I do not think Singapore does a better job at financial literacy education than other countries. There are no official lessons in schools about saving, the proportion of one’s allowance from parents/ income that should be saved, on how to manage money and on how to invest. Growing up, I do not recall any lessons like these when it is essential for survival. I do however think that many are financially literate because of self learning and there is an abundance of resources available to facilitate that. Parents teach their children based on what they know. So, I think education at home plays a far bigger part than schools.


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!
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