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Publication: The Business Times, p 14
Date: 8 June 2015
Headline: Gain financial literacy the fun way
Gain fmancialliteracy the fun way
A three-day event jointly organised by SMU and Citi will feature interactive funfair activities, talks and workshops. BY FIONA LAM
F
INANCIAL Literacy Fiesta
2015, an educational car­
nival and symposium to
be held from June 12 to 14
on SMU campus grounds,
will teach participants from varying
age groups how to better manage
their money. The event is being
jointly organised by Singapore Man­
agement University (SMU) and Citi
Singapore.
Through interactive funfair activi­
ties and a series of talks and work­
birds also receive complimentary
shopping vouchers, while stocks last.
The fiesta caters to children, teen­
agers, young adults, families and the
elderly, who will gain financial know­
ledge and tips relevant to different
life stages to help them make deci­
sions for their financial future.
Free admission, SMU School of Accountancy
12.30pm
Fiesta
Stock
Exchange
to 2pm
FUNDAMENTALS TO EQUITY
PLANNING TOWARDS AND
VALUATION
PLANNING IN RETIREMENT
By Don Low from voyage Research
By Christopher Tan from the
Seminar Room 2.3
securities Investors Association
(Singapore) (SIAS)
YOUR WAY TO ELIMINATING DEBT
Seminar Room 2.2
By Hon Lee woon from credit
Fund (CPF), real estate investment
trusts (Reits), debt elimination, and
retirement planning.
THE Fiesta Stock Exchange game sim­
exchange, to give participants a feel
counselling Singapore
BUYING YOUR FIRST FLAT
Representatives from Singapore
Exchange, CPF Board, Voyage Re­
Seminar Room 2.4
By Jerry Su from the Housing
search, Credit Counselling Singapore,
Development Board (HOB)
YOUR RETIREMENT AND CPF
Seminar Room 2.4
Institute of Financial Literacy, Securi­
ties Investors Association (Singa­
By Georgina Gao from the central
pore), HOB and SMU will conduct the
workshops. Seating for each session
Provident Fund (CPF) Board
is limited to 50 people.
Seminar Room 2.2
4.30pm
to 6pm
INVESTING IN REITS AND
As for the carnival's financial litera­
delivering more innovative and effec­
tive financial education initiatives.
The panel will comprise Michael
Housing & Development Board (HOB)
Zink, head of Asean and country offi-
flat purchase, the Central Provident
[email protected]
Opening the event will be a
two-hour symposium on Friday titled
Securing the Future: Building a Finan­
cially Literate Society. The symposi­
um features a dialogue on how Singa­
pore can be a more future-ready socie­
ty, starting with financially literate
young adults as tomorrow's leaders.
To be held at the Mochtar Riady Au­
ditorium in the SMU Administration
Building, the symposium is targeted
at tertiary students, faculty, PMEBs
BUSINESS TRUSTS
By Chua I-Min from SGX
TRADED FUNDS (ETF)
Seminar Room 1.2
By Phua Soon Lim from the
101: WHAT TO
Singapore Exchange (SGX)
INVESTMENT
Seminar Room 2.5
CONSIDER IN PLANNING FOR
RETIREMENT
FINANCIAL PLANNING BEGINS
By Jerry Cao from SMU
NOW: MEASURING YOUR
Seminar Room 1.3
FINANCIAL FITNESS
(workshop is in Mandarin)
By Ferris wee from the Institute of
Financial Literacy
To pre-register for the work­
seminar Room 2.3
shops, visit smu.sg/fiesta
include
cer for Singapore at Citi; Shrikant
Senior Minister of State for Finance
Bhat, managing director and head of
Symposium
speakers
(professionals, managers, executives
and businessmen), and community
and Transport josephine Teo, who
wealth management at Citi Singapore;
will be the guest of honour, as well as
Liew Heng San, advisory board mem­
partners involved in financial literacy
outreach efforts. Industry practition­
Gerry George, dean of SMU's Lee Kong
ber of SMU's Sim Kee Boon Institute
Chian School of Business (LKCSB) and
for Financial Economics; Winnie Lim,
ers and academia will gather at the
symposium to discuss the efficacy of
financial education programmes,
bringing in perspectives from civil
society and the private and public sec­
professor of innovation and entrepre­
director and head of the Consumer
neurship. The symposium's panel dis­
Issues Division at the Monetary Au­
cussion will be moderated by jeremy
thority of Singapore; and Susana Con­
Goh, associate professor of finance at
cordo Harding, director of the Interna­
LKCSB and principal investigator at
tional Longevity Centre Singapore.
the Sim Kee Boon Institute for Finan­
On Saturday, free-of-charge work­
shops will cover topics including
the risks and returns involved.
Participants will purchase either a
share or a bond using a certain
number of carnival stamps.
They then spin the carnival wheel
to determine the economic climate
which will affect their investments
cial Economics.
offices around the world give back to
the community they operate in which falls onjune 13.
to 4pm
INVESTING IN EXCHANGE­
of how investments work as well as
for their turn - "Recession" takes up
tors. They will share their insights, ex­
periences and potential next steps for
Community Day - when Citibank
2.30pm
ulates the workings of a real stock
cy games, examples are Fiesta Stock
Exchange (which simulates a real
stock exchange), The Price Is Right
(which challenges participants to
spend within a given budget), Matchy­
Match (which involves matching fi­
nancial concepts such as the Goods
and Services Tax to figures that re­
flect their corresponding values, and
Words of Wisdom (which requires
participants to piece together well­
known sayings such as "Buy low, sell
high").
Participants can earn points at the
game booths to redeem prizes such
as pocket -sized calculators and DIY
money banks. To showcase Singa­
pore's significant financial mile­
stones and currency evolution over
the decades, the fiesta also features a
specially curated Financial Heritage
Trail on Saturday and Sunday, put to­
gether by SMU students.
The heritage trail will provide a
nostalgic throwback to the old days
when Singapore's currency notes fea­
tured birds, boats and orchids. Partici­
pants can also learn about the stories
of entrepreneurs young and old, on
their journeys to financial freedom.
Members of the public can find out
more about the event and pre-register
for the Saturday workshops at
smu.sg/fiesta.
The three-day event is a communi­
ty give-back project in celebration of
Singapore's jubilee year, which coin­
cides with SMU's 15th anniversary
and Citibank's lOth annual Global
Fiesta Stock Exchange
June 13 (Saturday), 12.30pm - 6pm
shops on financial literacy, the fiesta
aims to make learning about money
management enjoyable for the every­
day Singaporean. Admission is free,
with food and drinks provided. Early
CARNIVAL GAMES
workshops at the fiesta
20 per cent of the wheel, "boom"
takes up 35 per cent, and "stable"
takes up 45 per cent.
The reward for participants will
depend on three things: the number
of carnival stamps they decided to
invest, whether it was a share or a
bond that was purchased, and the
result of the spun carnival wheel.
This game simulates the workings
of a stock exchange. The objective
is to give a feel of how
investments work, and the risks
and returns involved.
Participants choose to purchase
either a share or a bond, and
specify the amount of carnival
stamps they wish to invest. Then,
they spin the carnival wheel to
determine the current economic
climate. 20% of the wheel is titled
"Recession", 35% of the wheel is
titled "Boom" and 45% of the
wheel is titled "Stable". The
participants' decision on the
number of stamps to invest.
whether to purchase a share or a
bond, and the result of the spun
wheel would determine the
reward they receive.
Matchy-Match
THIS is an association game in which
participants are required to match
Matchy-Match
commonly known financial concepts
to figures that reflect their corre­
sponding values.
The Matchy-Match game's objec­
tive is to promote a higher degree of
familiarity with important financial
figures. At the start of the game, par­
ticipants will be given flash cards
showing the concepts and numbers,
and they are expected to pair them up
correctly. For example, the "Goods
and Services Tax (GST)" card will be
paired with the "7 per cent" card.
Other concepts tested in the game
are the withdrawal age for the Central
Provident Fund (CPF), the CPF Mini­
mum Sum, the inflation rate, and the
expected rates of return on equity
over 10 years and on a risk-free invest­
ment product. Also featured is the
expected return of a high-grade bond
-that is, a bond that has been given
the AAA or AA credit quality rating by
a bond rating agency such as Stand­
ard & Poor's to indicate a relatively
Matchy-Match is an association
game where participants must
match a well-known financial
concept to its associated value.
This is to promote higher degree
of familiarity with commonly-used
financial numbers. At the start of
the game, a participant would be
given flash cards and be expected
to form pairs correctly.
The pairs are: eg " Inflation - 3%",
"GST- 7%", "CPF withdrawal age
55 years old"
-
low risk of default.
The Price Is Right
THIS game seeks to inculcate in parti­
cipants the important financial princi­
The Price Is Right
ple of spending within their means,
seeing as spending beyond budget
will usually result in debt, which is
undesirable.
Participants first pick a budget
card- for $5, $8 or $10- which
determines the maximum amount
they can spend. With that budget in
mind, they must purchase items from
four categories: chocolate, ice cream,
drinks, and chips.
The actual prices of the items will
not be stated, so participants have to
rely on their contextual knowledge of
each item's value to make their deci­
sion. If the total expenditure turns
out to fall below the stipulated budg­
et, the participant wins the game and
receives a prize; if it is over the budg­
et, he loses the game.
Source: The Business Times © Singapore Press Holdings Limited. Permission required for reproduction.
Pick a budget card, and then
based on that budget buy one
item from each of the four
categories (chocolate, ice cream,
drinks, chips). The actual price
of the items would not be stated,
so the participant has to rely on
contextual knowledge to make
choices. If the total expenditure
is below the budget, he wins
the game and gets a prize.