Young people encouraged to embrace ‘saving habits’

A senior banker Bank South Pacific in Madang has encouraged young people in the province to develop strong saving habits and financial discipline at an early age.

They were given this challenge by Gaudi Manu of BSP Madang during the launch of the Centre of Excellence in Financial Inclusion’s Young Mind Savings Campaign at Sagalau Primary School last Wednesday.

Speaking at the launch under the theme “Empowering Young Minds Through Saving Campaigns in Madang Province,” Mr Manu said the initiative was aimed at equipping young people with the financial knowledge and confidence needed to plan for their future.

He said the campaign was not simply about opening bank accounts but about empowering students to take control of their lives through financial literacy and responsible money management.

“Financial inclusion is not about banks. It’s about power.

“The power to pay school fees because you saved, to start a small business because you planned, and to dream beyond today because you have prepared for tomorrow," Mr Manu said.

He said Madang as a province rich in resources, talents, and opportunities, but noted that many young people leave school without the financial knowledge and saving habits needed to achieve their goals.

He stressed the importance of teaching children to save from a young age, adding early financial education would help create lifelong habits of planning, discipline, and independence.

Using a practical example, Mr Manu said a student who saved only K2 a week from Grade 7 to Grade 12 could accumulate more than K600 by graduation, which could assist with school fees, trade tools or starting a small business.

“The real value is not only the money saved, but the mindset developed through planning ahead and avoiding unnecessary spending,” he said.

Mr Manu said the Centre of Excellence in Financial Inclusion would focus on bringing financial literacy programmes into schools and communities through practical learning methods in both English and Tok Pisin.

The initiative would also provide students and young entrepreneurs with access to safe savings options, digital financial tools, and mentorship opportunities.

The campaign aims to encourage students across Madang Province to open savings accounts, set financial goals, and develop positive money habits from an early age.

Mr Manu also called on teachers, parents, government agencies, churches, banks, and community leaders to work together in supporting financial inclusion initiatives throughout the province.

“To every student here, your journey to financial freedom starts with one decision today to save,” he said.

Manu added that the campaign would help build a generation of young savers, responsible leaders, and financially empowered citizens for the future of Madang Province and Papua New Guinea.