Citi-SMU Financial Literacy Awareness Day 2017

By Ms Kiran Kaur, Lecturer, Lifeskills, School of Business & Services

On 12 July 2017, ITE College East in collaboration with Citi Singapore and Singapore Management University, hosted an exciting and interactive “kampong-themed” carnival for all students. The event – a highlight of its Financial Literacy Programme for Young Adults, employed an interesting and nostalgic concept to achieve the objectives of raising students’ awareness of early financial planning and making prudent and sound decisions.

That morning, the Atrium was transformed into a Malayan Village, dotted with booths aptly named “Gotong Royong Farm”, “Lucky Longkang”, “Ulu Pier” and “Kin Seng Provision Shop”. Each station presented a problem-based scenario requiring students to think on their feet and make quick decisions. One such scenario called for students to imagine themselves as farmers who noticed their crops being repeatedly destroyed by snails. Their task was to solve an investment pyramid puzzle in order to harvest more crops and maximise earnings.

Students who were thrilled for successfully completing the “Investment Pyramid Puzzle”

Successful attempts allowed students to collect stamps which earned them attractive prizes at the end! More importantly, each station had key takeaways for the participants, such as budgeting to achieve financial goals and considering options before purchasing protection plans.

Students contemplating over the best protection plans to meet their “kampong” needs

Aiming for “Needs” before “Wants” to achieve financial goals

Over the course of the day, twelve ITE students volunteered together with their SMU counterparts at the carnival. The peer-to-peer collaboration allowed for an even more enriching learning experience for these lucky few.

Apart from the game booths, there was also active recruitment for ITE College East’s flagship “Cashflow Competition”. Scheduled to take place on 3 August 2017, this competition aims to impart money management skills to students through gamification.

All in all, it was indeed a fun-filled day for everyone and we look forward to more exciting ways of inculcating financial savviness in our youth in the future.