Cops get financial management training

(CMR) This week, the Office of the Commissioner of Police began a financial management course in collaboration with RCIPS Police Welfare.

The overall objective of the course is to equip the participants with a thorough understanding of budgeting, getting out of debt, planning for the future, and the need for robust personal financial management tools and tips that link planning, budgeting, and results.

The course is based on the methods of the financial guru Dave Ramsey and is being facilitated by  Michael Myles from Inspire Cayman Training. Dave Ramsey’s seven baby steps promise to help persons achieve financial freedom, learn how to balance their funds, and grow their wealth.

“This course is about changing behavior, which in turn helps to improve the financial position of our officers,” said Myles.

“Financial Literacy is 80% behavior and 20% education. We are not taught financial literacy in our homes, high schools, and colleges. Because of this, our people face significant financial challenges in managing their finances and building wealth. Consistent research has highlighted the connection between financial struggles, and mental and medical illnesses,” he continued.

 “Our officers will be exposed to many challenges on the job, financial hardship should not be one of them. I applaud the OCP and RCIPS Police Welfare for gifting this course to their team. I look forward to working with these recruits to give them the resources to improve their financial habits for the better, especially at such an early stage in their careers. This will hopefully set them up for success from the start,” Myles explained.

The course runs for nine weeks, and this initial session began on Wednesday, 23 August. Because the number of participants is limited, there will be multiple sessions to ensure all staff have the opportunity to participate.

“The OCP is committed to developing our personnel and ensuring that they are equipped with the right skills to enhance our personal and professional capabilities. One of these skills is managing their finances responsibly. We are grateful to Mr. Myles for facilitating the training and to Police Welfare for covering the costs,” said Chief Superintendent Brad Ebanks.

 said Welfare Representative Inspector Dian Dyer-Alexander said, as the name suggests, the role of Police Welfare is to support the well-being of our officers and other staff.

“We were pleased to fund this training, as when it comes to overall well-being, financial literacy is one of the most important life skills one can have,” Dyer-Alexander said.

“We are happy to host this course as a supplement to the officer training program these recruits are already embarking on,” said Superintendent Adrian Seales, head of the Training & Development Unit.

“This will enable them to graduate as trainee constables who are equipped with the necessary knowledge and habits to succeed, not just professionally, but in their personal lives as well,” he added.