Twenty students from various primary and secondary schools in Samoa were awarded prizes by the Central Bank of Samoa on Friday. 

The prize giving wrapped up Global Money Week 2018 with the theme “Smart Spending = Brighter Future”.

Global Money Week is an annual event coordinated by Child and Youth Finance International and is celebrated through events and activities to help empower children and youth to be confident and responsible citizens. 

For Samoa, the Central Bank held a “Be Money Wise Poster Competition and Build Your Savings Piggy Bank/Money Box Competition”. 

Build Your Savings Competition targeted college students from Years 9-12 challenging them to be creative in building their own piggy bank. 

The top five winners of this savings competition were awarded $300 each.

The poster competition focused on primary school students and was divided into three categories - category 1 for Years 3-4, category 2 for Years 5-6 and category 3 for Years 7-8. 

The top five winners from each poster competition category won a cash prize of $100 tala. 

Their respective schools were awarded $100 tala for each winning entry. The winners also received stationary prizes thanks to Business Systems Ltd (B.S.L.).

One of the winners, Eneliko Laimani, from Paul VI College, said it’s good to understand ways of using money wisely.

“My poster is about a chair with money on it, meaning that we need more chairs in the future. Our family needs to work together to earn and save more money,” Eneliko said.

“We all know that maintaining a healthy level of finances is the same as keeping yourself physically fit because if each and every one of us achieved our ideal weight, we will cease making an effort to live a healthy lifestyle.”

“For the future, once I’ve reached my goal of saving more money than I can be able to help and pay my parents back.”

Eneliko believes managing money wisely is really important because it helps anyone make smart decisions.

“I thank the Central Bank for the opportunity given to each and every one of us,” he said.

“We are not only drawing posters but at the same time, we’ve learnt a lot from managing money wisely when we grow older.”

During the week, the Central Bank also coordinated its first school visit programme for Year 13 Commerce students in rural areas. 

Selected colleges were Safata College, Anoama’a College, Wesley College and Pope Paul VI College. Each of the commercial banks hosted one of the schools in the morning providing them with guided tours and presentations on the bank’s operations.

At the conclusion of their bank visit, the four schools then had an afternoon session with Samoa National Provident Fund and the Central Bank of Samoa at the T.A.T.T.E. Conference Centre. 

The poster competition was a creative outlet for kids to demonstrate their imaginations and knowledge about money choices with regards to spending.

The Central Bank of Samoa thanked B.S.L. Manager and Owner, Meilan Meredith and the management team for the kind donation of stationery supplies.

B.S.L. representative, Nigel Stowers said being part of the competition since 2014 is an effort to inspire Samoa’s youth to become more effective with saving their money.

 “The competition has encouraged students to be creative and to demonstrate their knowledge. It has also given them the opportunity for their artwork to be recognised.”

 “I continue to be amazed at the level of understanding that these students have about this topic and expressing it so vividly.” 

“Congratulations to all the winners and I do hope that you are further inspired and continue to be money wise.” 

The Central Bank hopes to conduct many more financial fitness activities in the years to come to continue financial literacy awareness for children and youth.

Poster competition winners: 

Category 1 

Sifusi Seiuli (Ah Mu Academy), Stella Raccuglia (Vaiala Beach School)Kirra Bragg (VaiaIa Beach School) Michelle Alex (Vaiala Beach) and Solantessa Hansell (Vaiala Beach School)

Category2   Christina Slaven (Vaiala Beach School),Charles Slaven (Vaiala Beach School) Erich Retzlaff (Vaiala Beach School), Leroy James Tupuola (Marist Brothers School) and Sulvann Kose Tevaga (Vaiala Beach School)

Category 3

Rosie Tautogi (Faleula Primary School), Jeff Van Heeswyk (Vaiala Beach School) Charity. E, Soliola (George Brown School), Vienna Tuiatua (George Brown School) and Jonathan Schuster (Vaiala Beach School).

The Build Your Savings Competition winners:

Tauiolealofa Akeripa (Leulumoega Fou College), Eneliko Laimani (Pope Paul Vl College), Alexia Slaven (Samoa College), Robert Papali’i I (Pope Paul VI College) and Pili Penitito (Pope Paul VI College).