A Model for Money Education? Is SG Leading in Financial Literacy?
As one of Asia's financial centers, some say Singapore is a country where the local specialty is “money.” Despite its land area of 728 square kilometers, it manages over $4 trillion in assets.
As a financial hub, most Singaporeans also have a strong foundation in financial literacy.
For example, the auntie next door uses dividend income to pay for her grandson’s kindergarten fees.
And financial literacy is taught from a young age — primary school students have dedicated financial education classes.
In Grade 6, the time value of money is a mandatory topic. Many kids are more familiar with compound interest formulas than multiplication tables. I, on the other hand, only encountered these concepts in university, we had no such courses growing up.
In the US, financial literacy education is often described as “a lifelong happiness plan”
📌 Financial Literacy Focus for Ages 6–12: Build good habits and values related to money:
Practice buying learning/school supplies independently and getting the correct change
Create an allowance spending plan — teach not to spend recklessly
Learn to compare prices and spend wisely
Understand that money can earn interest and grasp the concept of time value of money
Learn to recognize unhealthy money attitudes and spending behaviors like keeping up with others, chasing brand names, or overspending
📌 Financial Literacy Focus for Ages 12–18:
Acknowledge their own needs and develop a rational view of spending
Encourage kids to have dreams and goals
Understand the power of credit and the concept of risk
Do you think Singapore does a better job at financial literacy education than other countries?
At what age do you think children should start learning about personal finance and investing?
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I think it is improtant to start young even preschoolers need to be taught the value of money. The content should of course get progressively deeper with age as the children’s ability to understand improves. It is a life skill like swimming— the learning should start as soon as possible!
@LuckyPiggie @Success88 @DiAngel @SPOT_ON @SR050321 @Universe宇宙 come join
I think I have a better deal than my friends [LOL][Happy][Smile][Chuckle] as whenever I want to go out, I just have to inform my father and he is my ATM. I thank him and out I go - as fast as the roadrunner beep beep. 🤭🤣😇
@MHh @Wayneqq @HelenJanet @melson @Universe宇宙 @rL
I think it is the mindset and difference in culture. Asian country parents have the mindset to save up for the rainy days and keep some money or assets for their children. From young, we are taught by parents saving is very important.
As for the western, they have a mindset of work to enjoy hard. They only worked for a few years and travel around the world to enjoy life. When they are out of money then they return to work.. this is totally different from Asian. We work hard for our retirement during younger days.
在新加坡，孩子小学阶段确实有接触到理财的基本概念，比如零用钱管理、储蓄和简单预算，但整体上还是偏向“讲理”多于“实践”。相比之下，美国更强调让孩子在真实情境中做决定，比如用自己的钱去买文具、规划生日预算，甚至鼓励青少年通过兼职感受赚钱的辛苦。这种沉浸式体验，效果更深远。
至于孩子几岁该学理财？我认为从6岁起就可以开始引导。不需要讲什么“资产配置”或“投资组合”，而是教他们区分“需要”和“想要”、如何存钱买玩具、怎么记录零用钱花到哪了。到青春期，再逐步引导他们理解信用、利息、风险，这样等他们成年后，面对贷款、投资、消费选择时，才不会毫无准备。
理财不是某一节课，而是一种生活态度。越早启蒙，越容易建立健康金钱观。