UTC trains Jabloteh footballers on managing $$

MANY athletes live fairly comfortably during their playing days. However, far too often, athletes find themselves in financial difficulties after their sporting careers are over.

A collaboration between Unit Trust Corporation (UTC) and San Juan Jabloteh is trying to educate athletes about being financially intelligent.

San Juan Jabloteh's football team got a few tips from UTC staff during a seminar held at San Juan North Secondary School on March 27.

Chief financial officer (CFO) Kerri Maharaj and head of fixed income investments Phillip Williams were among those interacting with the Jabloteh footballers, a team with mostly teenagers and players in their twenties.

Williams said trying to manage your money is a financial GPS, saying, "Sometimes when you are on a journey with money you may go off course."

The seminar was an interactive one as the footballers participated in the game Snakes and Ladders. However, the game had a twist as the players learned about the world of finance.

Williams also asked the athletes to write down what prevents them from achieving their financial goals.

Speaking to Newsday following the seminar, Maharaj said, "Unit Trust is way beyond being a normal financial institute. We consider ourselves partners with the community, we consider ourselves living with the community and being part of their growth and development, especially when we are able to partner and help shape young lives, to develop the skills that they need to become financially independent in the future...

"We hear so many stories of athletes who make money, but they going into retirement with pratically nothing. They are essentially broke."

Maharaj said this is where UTC steps in.

"If we could teach them from young the importance of money, the importance of learning about money, the importance of saving and investing, I think we have given them more skills than their athletic skills because they can take those skills into the future as they end their sporting careers."

Head of marketing Hema Ramkissoon also spoke about UTC's responsibility to pass on knowledge. "Like any other organisation in our ecosystem, UTC is open to (educating). Financial literacy, financial education is one of the pillars of which we exist.

"We saw it not just as a paper deal (with Jabloteh), but as CFO has indicated, this is a deeper, meaningful partnership with anyone who comes to UTC. We see this as our purpose to the country."

Jabloteh chairman Nirad Tewarie thanked UTC for its support of the club. Drawing reference to the board game the players participated in, Tewarie said snakes will try to pull you down financially.

The coaches and officials of the club also attended the seminar.

The partnership between UTC and Jabloteh is for one year.