Photo Caption: Errol Allen, operations support officer at JN Bank Westmoreland delivers a presentation at the Manning’s School Male Empowerment Seminar on Thursday, November 23, 2023.
Amid continued concern over the marginalization of boys and men across the country and their descent into violence, Errol Allen, operations support officer at JN Bank Westmoreland, sought to equip boys at the Manning’s School recently with tools to achieve personal and financial success.
Speaking at a one-day Male Empowerment Seminar organised by the school on November 23 under the theme, “TRENDing Males: Cultivating Character and Integrity”, the banker underscored the importance of getting a good education and provided the students with practical steps to assist them with achieving financial freedom.
“You must be hungry for knowledge, and you must be willing to put in the work to get the rewards. Take on habits that will help you to achieve a goal, build your character and improve the decisions you make in life,” he advised the young men.
Mr Allen emphasised that education and discipline are important factors to becoming financially independent and urged the young men to become exemplars and make habits, such as saving and budgeting, trend throughout their lives.
“Saving is a small step that can lead to big financial rewards and that’s a trend you should follow. It doesn’t matter how much you can afford to put away, but you should be putting something aside,” he urged.
He encouraged the students to consider saving towards things that will appreciate in value over time, rather than trying to impress friends or to be “trendy.” He recommended applying the 10/10/80 savings rule to whatever money they receive or earn, with 80 per cent going towards things they need, such as lunch and fare, and the remaining 20 per cent set aside for charity or church and saving.
“That is your income until you start working, so budget it carefully,” he told the student body of young men, while encouraging them to open bank accounts.
The banker also recommended technology that can help the students easily budget and set aside savings. “On our website, jnbank.com, we have budgeting and savings tools, or you can download free budgeting apps. We also have a savings hub on our website with lots of resources, advice and tips,” Mr Allen advised.
He also enlightened the students on how they can use their own talents to earn money legitimately.
“I don’t want to hear anybody saying school is a waste because you can go ‘chop the line’. That’s not sustainable and, of course, very dangerous for you and your family,” he said. “Maybe you could get a weekend job or if you have some skills you could exploit to earn an honest side income, use your spare time wisely to do so,” he added.
Mr Allen told the students that while the journey to financial freedom takes time, it is possible for them to get there and become independent and confident men who can take care of their families and loved ones.
In addition to sharing tips to save and budget, he also advised them to start doing their own research about investing and insurance which they can use later in life to secure and protect their futures and also that of their families.
“Before you do any investment take time to educate yourself. The future is yours for the taking and you have the power to control your destiny,” he said.
The male empowerment seminar was organised by the Personal Development department of the Manning’s School to uplift the male student body and motivate them to reach their full potential.