CPF Board and MoneySense Bring Financial Education to ITE Students
Singapore, 1 November 2007...The Central Provident Fund (CPF) Board and MoneySENSE Financial Education Steering Committee, in collaboration with the Institute of Technical Education (ITE), will be holding a carnival-style, ITE Financial Education Outreach Finale on Thursday, 1 November 2007 at ITE College East. The event will be graced by RADM (NS) Lui Tuck Yew, Minister of State for Education.
2 The carnival marks the finale of the CPF - MoneySENSE ITE Financial Education Outreach 2007. The ITE outreach programme, a first for MoneySENSE and CPF, comprises a series of activities which began in September 2007 and includes talks on financial matters, my cpf Voyage of Life online game competition and a financial education carnival.
3 The programme has received positive feedback from students and lecturers. Dr Yek Tiew Ming, Principal of ITE College West said, “The MoneySENSE financial education outreach programme has been very effective. The activity-based approach to student engagement has worked well in reaching out, and getting the messages across. We have certainly achieved our goal in raising the financial literacy of our students.”
4 The outreach is an extension of CPF Board’s and MoneySENSE’s concerted efforts to raise financial literacy among youths. The national financial literacy survey conducted by MoneySENSE in 2005 revealed that the average financial literacy scores, both in terms of knowledge and action for adults aged between 18 and 24, were lower than the population average.
5 The outreach does not end at ITE. ITE students will share the money management messages that they have learnt through the programme with members of the public. The students will set up MoneySENSE game booths at the upcoming Active Ageing Carnival, organised by the Council of Third Age (C3A), on 18 November 2007 at Dhoby Ghaut.