Martin Lee @ Sg
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Launch of Institute for Financial Literacy

Yesterday, the MoneySENSE Financial Education Steering Committee and Singapore Polytechnic (SP) launched the Institute for Financial Literacy (IFLS).

The Institute aims to build core financial capabilities across a broad spectrum of the Singapore population. As the IFLS is a full-time dedicated effort in financial education, it will be able to deliver financial education to the public in a regular and structured manner.

The idea for such an institute was actually mooted about three years ago by MAS. It certainly took a while for the idea to come to fruition but I think it is a great initiative!

The IFLS will build on MoneySENSE’s work on basic money management, financial planning, and personal investing. It will offer free talks and workshops to help consumers develop capabilities to make financial decisions that directly affect them and their families.

Initially, the programs hope to reach out to the middle and lower income working adults segment. This group is typically too busy with their families and their work to attend financial talks. Thus, IFLS will bring the talks to them in their work-place.

When the IFLS is fully operational, it will be able to conduct 220 lunch-time talks per year.

For a start, talks covering the following topics will be offered starting from October 2012:

  • Making the Most of Your Money
  • Financial Planning Begins Now
  • Are You Borrowing Too Much?
  • Do I Need Every Type of Insurance?
  • Building Your Nest Egg
  • Investment and Financial Products

Organisations and associations that are interested in bringing these programmes to their staff or members or the public can contact the Institute at 6870 8383 (phone) or [email protected] (email).

The website of the IFLS can be found at http://finlit.sg

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