Teens to learn how to manage finances

Deputy Prime Minister Tharman Shanmugaratnam, who is also Finance Minister, speaking at the MoneySense 10th Anniversary Roadshow held at the HDB Hub Mall in Toa Payoh on Saturday, Oct 19, 2013. From next year, students at the lower secondar
Deputy Prime Minister Tharman Shanmugaratnam, who is also Finance Minister, speaking at the MoneySense 10th Anniversary Roadshow held at the HDB Hub Mall in Toa Payoh on Saturday, Oct 19, 2013. From next year, students at the lower secondary level will be taught money management skills to help them form the right attitudes towards spending and saving early in life, said Mr Tharman. -- ST PHOTO: NEO XIAOBIN

From next year, students at the lower secondary level will be taught money management skills to help them form the right attitudes towards spending and saving early in life, said Deputy Prime Minister Tharman Shanmugaratnam.

The initiative, which will be rolled out by the Ministry of Education for secondary one and two students, will also help equip teachers with the necessary skills and knowledge to improve their pupils' financial literacy.

Mr Tharman, who is also Finance Minister, was speaking at Saturday's MoneySense 10th Anniversary Roadshow held at the HDB Hub Mall in Toa Payoh. He added more avenues of help will also be made available to those who are in financial distress under the national financial education programme.

A pilot programme, he said, has been launched to train social workers and counsellors on financial literacy. This is to enable the social workers to provide advice to low income households and those who see them for help.

Another move was that MoneySense will deliver targeted messages at key points in a person's life. These could range from helping people to plan for their wedding expenses, ensuring they buy affordable flats and advising parents on saving for their children.