Monetary Authority of Singapore Annual Report 2012/2013

EDUCATING CONSUMERS

MoneySENSE - Singapore Polytechnic Institute for Financial Literacy

A highlight of the year was the launch of the MoneySENSE - Singapore Polytechnic Institute for Financial Literacy on 16 July 2012. Its launch was a significant development in the MoneySENSE financial education agenda and facilitates the delivery of financial education to the public in a regular and structured manner.

The Institute aims to build core financial capabilities across a broad spectrum of the Singapore population. The core financial capabilities are

  1. understanding money and having numeracy skills to be able to evaluate costs and benefits;
  2. understanding yourself, your rights and responsibilities;
  3. managing money to live within one’s means;
  4. planning ahead for your financial needs and goals; and
  5. selecting financial products suitable for you.

Initially the Institute will focus on delivering financial education to working adults. To improve access for working adults, the Institute conducts free talks and workshops in workplaces. The Institute is also working with community organisations to develop and conduct customised programmes for Singaporeans in lower income groups.

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