The programme, called Bijak Belanja, aims to inculcate the value of thrift, encourage saving and teach families to manage their finances.

It was launched on Sunday by the Minister in charge of Muslim Affairs Yaacob Ibrahim at The Grassroots' Club in Ang Mo Kio.

Dr Yaacob, who is also Minister for the Environment and Water Resources, said the programme was designed to be simple, widely available and low-cost so all families can sign up for it.

Each participant pays just $5 to get on the programme, which is organised by the Family Development Network of the Community Leaders' Forum, a platform for Muslim groups to address issues such as education, youth, family and employability.

The core module homes in on values and the importance of saving, while electives will cover specific topics such as day-to-day spending, credit and debt management and home ownership and renovation expenditure.

Dr Yaacob noted that fewer than two in 10 intact Malay-Muslim families had dual-income earners.

It emerged in the 2005 General Household Survey that half the Malay-Muslim families here earn less than $2,830 a month; two-thirds earn below $3,830 - the level of income which half of all families here exceed, and the other half falls short of.

Dr Yaacob said: 'Without proper financial planning, many will be caught off guard when faced with crisis such as unemployment, divorce or long-term illness.'

As part of the programme's launch, 500 families sat in on an hour-long session on Sunday.