Data on Government's Financial Literacy Initiatives for Young Persons

Debated in Parliament on 2 Apr 2024.

Summary written by AI (learn more)

The Government incorporates financial literacy education across all levels of schooling, with modules and activities at polytechnics, institutes of technical education, and autonomous universities covering sound financial habits and investment basics, and the Ministry of Education regularly updates these programmes.
Beyond formal education, MoneySense supports youth through talks, virtual carnivals, social media collaborations, and engagement sessions on topics like investing, overspending, and scams, partnering with the Ministry of Culture, Community and Youth and the National Youth Council.
The MoneySense National Financial Capability Survey 2021 indicates that youths generally have higher financial literacy than the general population, and Monetary Authority of Singapore warnings about digital assets are amplified through MoneySense social media efforts.
The Government monitors participation rates and effectiveness metrics through surveys like the NFCS, though specific percentage data for youth participation was not provided in the response.

Questions identified by AI (learn more)

Full Transcript

See Jinli Jean

Ms See Jinli Jean asked the Prime Minister (a) what are the initiatives introduced by the Government to guide young persons to develop financial literacy, including the sensible investing in digital assets; (b) what is the percentage of young persons participating in these initiatives; and (c) what are metrics that the Government is monitoring to evaluate the initiatives' effectiveness.

Summary written by AI (learn more)

The Government incorporates financial literacy education across all levels of schooling, with modules and activities at polytechnics, institutes of technical education, and autonomous universities covering sound financial habits and investment basics, and the Ministry of Education regularly updates these programmes.
Beyond formal education, MoneySense supports youth through talks, virtual carnivals, social media collaborations, and engagement sessions on topics like investing, overspending, and scams, partnering with the Ministry of Culture, Community and Youth and the National Youth Council.
The MoneySense National Financial Capability Survey 2021 indicates that youths generally have higher financial literacy than the general population, and Monetary Authority of Singapore warnings about digital assets are amplified through MoneySense social media efforts.
The Government monitors participation rates and effectiveness metrics through surveys like the NFCS, though specific percentage data for youth participation was not provided in the response.

Questions identified by AI (learn more)

Data on Government's Financial Literacy Initiatives for Young Persons

Debated in Parliament on 2 Apr 2024.

Summary written by AI (learn more)

The Government incorporates financial literacy education across all levels of schooling, with modules and activities at polytechnics, institutes of technical education, and autonomous universities covering sound financial habits and investment basics, and the Ministry of Education regularly updates these programmes.
Beyond formal education, MoneySense supports youth through talks, virtual carnivals, social media collaborations, and engagement sessions on topics like investing, overspending, and scams, partnering with the Ministry of Culture, Community and Youth and the National Youth Council.
The MoneySense National Financial Capability Survey 2021 indicates that youths generally have higher financial literacy than the general population, and Monetary Authority of Singapore warnings about digital assets are amplified through MoneySense social media efforts.
The Government monitors participation rates and effectiveness metrics through surveys like the NFCS, though specific percentage data for youth participation was not provided in the response.

Questions identified by AI (learn more)

Full Transcript

See Jinli Jean

Summary written by AI (learn more)

The Government incorporates financial literacy education across all levels of schooling, with modules and activities at polytechnics, institutes of technical education, and autonomous universities covering sound financial habits and investment basics, and the Ministry of Education regularly updates these programmes.
Beyond formal education, MoneySense supports youth through talks, virtual carnivals, social media collaborations, and engagement sessions on topics like investing, overspending, and scams, partnering with the Ministry of Culture, Community and Youth and the National Youth Council.
The MoneySense National Financial Capability Survey 2021 indicates that youths generally have higher financial literacy than the general population, and Monetary Authority of Singapore warnings about digital assets are amplified through MoneySense social media efforts.
The Government monitors participation rates and effectiveness metrics through surveys like the NFCS, though specific percentage data for youth participation was not provided in the response.

Questions identified by AI (learn more)

Lawrence Wong (for the Prime Minister)

Financial literacy education is incorporated into the curriculum from the primary to the tertiary level. Students from the Polytechnics and the Institute of Technical Education take financial education modules that encourage sound financial habits and cover the fundamentals of investment literacy. At the Autonomous Universities, students can access course modules to build up their investment literacy, or participate in various campus activities, workshops and talks to learn about good money management and financial planning. The Ministry of Education regularly reviews its financial literacy programmes to keep up to date with the evolving financial landscape.

Beyond schools and tertiary institutions, MoneySense supports youths with access to financial literacy messages that supplement what they have learnt in school. These include talks on how to invest, and the virtual My Money@Campus carnivals that feature interactive learning and game booths. MoneySense, the Ministry of Culture, Community and Youth, and the National Youth Council (NYC) has also collaborated with social media content partners to engage youths on topical issues such as overspending on luxuries. Together with the NYC, MoneySense also organises regular engagement sessions with youths to discuss issues, such as good financial habits, investments and scams. The MoneySense National Financial Capability Survey (NFCS) 2021, which seeks to better understand behaviour in dealing with financial matters, attitudes towards financial planning issues and general financial knowledge, found that compared with the general population of Singapore, youths generally had higher levels of financial literacy.

Regarding digital assets, MAS has consistently warned the public against trading in cryptocurrencies given their lack of intrinsic value, volatile prices and highly speculative nature. MoneySense regularly amplifies these warnings to youths on social media, including through collaborations with content creators.

Data on Government's Financial Literacy Initiatives for Young Persons

Summary

Questions Identified

Full Transcript

See Jinli Jean

Summary

Questions Identified

Data on Government's Financial Literacy Initiatives for Young Persons

Summary

Questions Identified

Full Transcript

See Jinli Jean

Summary

Questions Identified

Lawrence Wong (for the Prime Minister)