Download Introduction Financial literacy education has been introduced to high

Introduction
Financial literacy education has been introduced to high school students in many developed
countries, including the United States, United Kingdom and Australia. In Singapore, NIE is
promoting financial literacy in schools through its Citi-NIE Financial Literacy Hub, a nationwide
teacher development education programme. This programme not only aims to equip our teachers
with skills to manage their personal finances, it will also train them the pedagogy to teach
financial literacy to our students. The immediate priority of the Hub is to launch financial
education in secondary schools through teachers and those who could reach out to students
directly.
There is currently neither specific syllabus nor topic on financial literacy in the formal school
curriculum. The Ministry of Education advocates the approach of promoting financial literacy
through the infusion of key concepts in relevant subjects in the curriculum, in a way that is
engaging and meaningful to students. Teachers can infused these concepts through content-based
subjects like Mathematics, Principles of Accounts and Social Studies, as well as non-academic
subjects that centre on life skills such as Civics and Moral Education or Pastoral Care.
Key Financial Literacy Concepts
The Citi-NIE Financial Literacy Hub for Teachers aims to reinforce the following key financial
literacy concepts among our teachers and pupils:
Personal resources are limited and have to be allocated for different purposes. As a result, one
needs to:
• Make informed choices on the use of personal resources
• Understand that an opportunity cost will be incurred when a decisions is made
• Differentiate between a want and a need and
• Make rational decisions for purchases by considering the costs and benefits
Personal expenditure comes from one’s current or future income. As a result, one needs to
• Spend within one’s means
• Understanding that spending beyond one’s earning capacity will lead to incurrence of
debts which have to be repaid by drawing on future income
• Understand that falling into a debt trap will have long term negative impact on our lives
Personal financial stability and security are established through adequate personal savings, early
financial planning and prudent investments. This means one needs to
• Cultivate good saving habits from young
• Start financial planning early
• Increase one’s resources through investments, if possible.
Background of the Citi-NIE Financial Literacy Hub for Teachers
1
Organized by the National Institute of Education, Singapore, and funded by Citi Foundation, this programme offers teachers a
personal finance course for personal development and a pedagogy course on promoting financial literacy in schools. Research
into the effectiveness of the programme and a longitudinal impact study are underway. The Hub provides participating schools
funds for their financial literacy cluster events; a platform where students learn useful financial literacy tips in a fun way.
Teacher Training
At the launch on 31 October 2007, the Citi-NIE Financial Literacy Hub for Teachers announced
the roll out the Citi-NIE FinLit Seminars, a nationwide financial education programme for
schoolteachers, the Citi-NIE FinLit Pedagogy Workshops for teachers and the research that the
hub will embark on. The training programme is divided into two parts: personal development in
personal finance skills and pedagogical training for financial literacy teaching.
Citi-NIE FinLit Personal Finance Seminar
The Citi-NIE FinLit Personal Finance Seminar aims to raise the financial literacy levels of
teachers. The 2-day seminar provides information and help teacher participants to manage their
finances, plan for their longer-term financial security, and make prudent investments. Over the
last decade, Singaporeans have experienced economic and financial crises both from a personal
and national point of view. Realities like retrenchments, downsizing, mergers, acquisitions, CPF
contribution cuts and increasing global competition has washed to our shores. In view of these
realities, it is imperative that individuals, including teachers, learn to equip themselves with the
relevant knowledge and tools to manage their finances effectively. This course is designed to
provide participants with the essential financial planning knowledge, processes and tools to be in
control of their finances.
At the end of the Citi-NIE FinLit course, participants will be able to appreciate the foundation
and process of financial planning, with specific emphasis on growing one’s wealth through
investments. (See Annex 1 for the course outline of the Citi-NIE FinLit Personal Finance
Seminar).
Citi-NIE FinLit Pedagogy Workshop
The 12-hour workshop is specially designed for teachers to equip them with the confidence and
skills to conduct and infuse financial literacy lessons in their classes. Pedagogical ideas and
practices, as applied in the teaching and learning of financial literacy in day-to-day lessons, will
be presented in the workshop. Teachers will learn how different strategies including games, role
play, problem-based learning, self reflection & cooperative learning can be utilized to engage
students in learning, and also to understand the relevance of school subjects like Mathematics and
Principles of Accounts. Working together with schools and educators, we aim to ensure that our
students are equipped with this vital life skill that will be called upon at different stages of their
life. (See Annex 2 for the course outline of the Citi-NIE FinLit Pedagogy Workshop.)
Background of the Citi-NIE Financial Literacy Hub for Teachers
2
Organized by the National Institute of Education, Singapore, and funded by Citi Foundation, this programme offers teachers a
personal finance course for personal development and a pedagogy course on promoting financial literacy in schools. Research
into the effectiveness of the programme and a longitudinal impact study are underway. The Hub provides participating schools
funds for their financial literacy cluster events; a platform where students learn useful financial literacy tips in a fun way.
Annex 1
Course Framework for Citi-NIE FinLit Personal Finance Seminar
(A Personal Development programme for secondary school teachers)
Seminar description:
This seminar aims to:
• provide an overview of financial planning to all participants.
• introduce important components and processes of financial
• planning.
• familiarize participants with essential tools of financial planning.
• introduce participants to the retirement planning processes involved.
• enable participants to relate the various CPF schemes to retirement
• planning.
• equip participants with sound financial knowledge, values and skills to take
them through life as responsible adults and active citizens.
Seminar purpose and objectives:
• To address the importance of Financial Literacy
• To create awareness of the various Economic Cycles
• To experience the inter-relationship of some financial facets of the real world
• To introduce wise decision-making process and good financial habits
Duration: 12 hours
Participants: Minimum 40 persons, Maximum 80 persons.
Background of the Citi-NIE Financial Literacy Hub for Teachers
3
Organized by the National Institute of Education, Singapore, and funded by Citi Foundation, this programme offers teachers a
personal finance course for personal development and a pedagogy course on promoting financial literacy in schools. Research
into the effectiveness of the programme and a longitudinal impact study are underway. The Hub provides participating schools
funds for their financial literacy cluster events; a platform where students learn useful financial literacy tips in a fun way.
Citi-NIE FinLit: DAY ONE
Session One: Personal Finances Overview
Keywords:
1. Financial Planning
2. Cash Management
3. Credit Management
4. Personal Risk Management and
Insurance Planning
5. Income Tax Planning
6.
7.
8.
9.
10.
11.
Topic
Personal Finances
Overview
Coverage
Understand the Need for Prudent
Management of Personal
Finances
Economic Cycles
Impact of Economic Cycles
Protection
Leverage
Investment Planning
Retirement Planning
Estate Planning
Budgeting
Needs
Wants
Details and Learning Points
Issues that make it imperative for us to be
more financial savvy:
• Why Plan? Why do people fail to do
financial planning?
Understand the elements of • What is Financial Planning?
Financial Planning:
• Financial Planning Process
Cash Management
• Identifying Financial Goals
Credit Management
• Personal Financial Statements
Personal Risk Management and
(Balance Sheet, Cash Flow Statement,
Insurance Planning
Budget)
Income Tax Planning
• Steps to Preparing a Budget
Investment Planning
Retirement Planning
Learning Points:
Estate Planning
Understand the importance of personal
financial planning
Able to differentiate between alternative
products available
Background of the Citi-NIE Financial Literacy Hub for Teachers
•
•
•
•
•
•
•
•
Risk Planning
Types of Personal Risks
How to manage risk?
Rules on Risk Management
Investment Planning
Investment Objectives
Investment Instruments
Types of Investment Risks
4
Organized by the National Institute of Education, Singapore, and funded by Citi Foundation, this programme offers teachers a
personal finance course for personal development and a pedagogy course on promoting financial literacy in schools. Research
into the effectiveness of the programme and a longitudinal impact study are underway. The Hub provides participating schools
funds for their financial literacy cluster events; a platform where students learn useful financial literacy tips in a fun way.
Topic
Coverage
Details and Learning Points
• Risk Tolerance
• Investment Strategies
• Golden Rules of Investing
• 6 Financial Pillars in Retirement
Learning Points:
Understand the impact of economic cycles
on our financial well-being.
Understand the importance of risk
management and investing planning
Cash Management/
Credit Management
Understand that budget as a money
management tool to:
• Trace sources of income
• Track spending and borrowings
• Monitor progress of achieving
goals
• Review Cash flow
Compare different loans (interest rates
based on monthly rest and fixed rate)
Learning Points:
• Build up Emergency fund
• Pay yourself FIRST
• Keep to your BUDGET
• Get rid of high interest debts
especially credit card loan,
personal loan, car loan
Personal Risk Management
• Insurance Planning
• Survival Needs Analysis
Understand the typical risks:
• Premature death
• Health/ Medical
• Hospitalisation
• Longevity/ Age-related
• Disability
Learning Points:
Understand the types of insurance
available to manage such risks.
Background of the Citi-NIE Financial Literacy Hub for Teachers
5
Organized by the National Institute of Education, Singapore, and funded by Citi Foundation, this programme offers teachers a
personal finance course for personal development and a pedagogy course on promoting financial literacy in schools. Research
into the effectiveness of the programme and a longitudinal impact study are underway. The Hub provides participating schools
funds for their financial literacy cluster events; a platform where students learn useful financial literacy tips in a fun way.
Topic
Coverage
Details and Learning Points
Compare the different types of insurance
plans.
Citi-NIE FinLit : DAY TWO
Session One: Elements of Financial Planning: The nuts and bolts
Keywords:
1. Financial Plan
2. Financial Goals
3. Financial Planning
4. Financial Statement Analysis
5. Emergency Funding
6. Cash Management
7. Credit Management
8. Risk Management
Topic
What is
Financial
Planning
Investment
Instruments
9.
10.
11.
12.
13.
14.
15.
16.
Insurance Planning
Survival Needs Analysis
Investment Planning
Education Planning
Tax planning
Retirement Planning
Estate Planning
Financial Planner
Coverage
Details and Learning Points
Components of a Financial Plan: How to determine one’s financial goals:
Goals and Financial Objectives
• Measurable
• Financial Statement Analysis/
• Time Frame
Emergency Funding
• Priority
• Cash Management/ Credit
• Flexibility (when circumstances
Management
change)
• Risk Management/ Insurance
Planning/ Survival Needs Analysis
• Investment Planning
• Education Planning
• Tax planning
• Retirement Planning
• Estate Planning
Understand the difference between
investment versus speculation
• Understand the different types of
• Basic stock trading
investments and their characteristics
terminology
(bonds, shares, unit trusts, equity
warrants, covered/structured
• Alternative securities
warrants, REITs, Exchange Traded
Funds, Equity-Linked Notes,
Background of the Citi-NIE Financial Literacy Hub for Teachers
6
Structured Deposits and foreign
Organized by the National Institute of Education, Singapore, and funded by Citi Foundation,
this programme offers teachers a
currencies)
•
Different investment
instruments
•
personal finance course for personal development and a pedagogy course on promoting financial literacy in schools. Research
into the effectiveness of the programme and a longitudinal impact study are underway. The Hub provides participating schools
funds for their financial literacy cluster events; a platform where students learn useful financial literacy tips in a fun way.
Topic
Coverage
•
Insights into investment
strategies specific to the
Singapore equity market
Details and Learning Points
Funds, Equity-Linked Notes,
Structured Deposits and foreign
currencies)
• Understand the risks associated with
investment instruments
Learning Points:
• Determine investment objectives and
investment horizon
• Understand risk profile. Be aware of
how much you can afford to invest
and how much losses you can afford
to incur
• Investor education. Understand how
the product works before you invest.
Do not invest in anything you do not
understand or are not comfortable
with
• Stay invested long term to ride out
cycles
Investment Planning
Planning in the form of
Asset Allocation.
Understand the following:
• Effect of inflation
• Costs of Children’s Education
• The power of compounding
Asset Allocation refers to the
• Assets of various risk levels
distribution of EXCESS funds
• Different investment tools
after Emergency Fund and Insurance
coverage among
What is a Unit Trust?
assets of various risk levels as per your
• Basic Concepts
risk appetite
• Common Types
• Cost of Investing
Understand the various personal factors that
may affect your investment.
Learning Points:
• Know your financial objective
• Know your risk appetite
• Know what your are investing
Background of the Citi-NIE Financial Literacy Hub for Teachers
7
Organized by the National Institute of Education, Singapore, and funded by Citi Foundation, this programme offers teachers a
personal finance course for personal development and a pedagogy course on promoting financial literacy in schools. Research
into the effectiveness of the programme and a longitudinal impact study are underway. The Hub provides participating schools
funds for their financial literacy cluster events; a platform where students learn useful financial literacy tips in a fun way.
Topic
Investing in
the Stock
Market
Coverage
•
•
•
•
•
•
•
•
•
•
•
•
Stock Market performance
How to start investing?
- Account opening
Selecting a broker
SGX Securities Trading
Contra Trade
Financial Information
Websites
Reading the Money Page
Investment Terminology
Rights Issue
Straits Times Index
Investing Style: Value vs
Growth
Spotting Good Stocks
Tax Planning
Objective:
Tax minimisation by taking advantage
of:
• range of deductions and reliefs
available.
Background of the Citi-NIE Financial Literacy Hub for Teachers
Details and Learning Points
• Know when to cut loss
• Diversify diversify diversify
• Start early
•
•
•
•
•
•
Learn how to start trading (CDP
registration, broker, online account)
Learn the basic Stock terminology
(Book Value, EPS, PER, ROE, Debt
Equity Ratio, etc)
Understand the different styles of
investing e.g. Value Investing
Understanding the Money Page
Identify sources of financial
information
Case Study: Keppel Corporation
Learning Points:
• Invest within your budget
• Market timing strategy/Buy & Hold
strategy
• Set a profit target
• Diversification & risks spreading
• Averaging up and averaging down
• Spotting neglected stocks
• Tracking the big players
• Do not speculate on rumours &
corporate mergers
• Avoid the crowd
• Cut your losses quickly but not
blindly
• It pays to be patient
• Invest in a small portfolio of stocks
• Keep a record of your gain and loss
Tax Relief using Supplementary Retirement
Scheme (SRS)
Learning Points:
•
Understand the SRS Benefits:
8
Organized by the National Institute of Education, Singapore, and funded by Citi Foundation, this programme offers teachers a
personal finance course for personal development and a pedagogy course on promoting financial literacy in schools. Research
into the effectiveness of the programme and a longitudinal impact study are underway. The Hub provides participating schools
funds for their financial literacy cluster events; a platform where students learn useful financial literacy tips in a fun way.
Topic
Coverage
• utilising income splitting,
income deferral and income
transfer.
Tax is levied on income derived in
Singapore or remitted back to
Singapore.
Details and Learning Points
• Tax deferment now and upon
retirement, only 50% of sum
withdrawn is taxable
• Maximise tax concession by
stretching to 10 yrs and whatever left
after 10 yrs will be taxed at 50%
• Understand the Drawbacks:
o Early withdrawals
o attract 5% penalty and whole amount
taxable
Retirement Planning
Our average life expectancy
How much do you need?
Sources of Retirement Funds
Annuities
Sources of funds:
• CPF
• Insurance (not term plan though)
• Investments
• House through reverse mortgage
• Annuity (longevity insurance)
Estate Planning
1. Write a will (executor, guardian)
2. Update your CPF nominations
3. Ensure enough cash for estate duty. One
simple way is thru’ life insurance.
4. Reduce estate duty thru’:Gift (5 years to be exempt from estate duty)
Trust (testator does not benefit from the trust)
5. Organise and store legal documents of
assets and liabilities. Not in bank safe deposit
box.
Resources and reference materials for Session One
1. Financial Statements and Budget template
2. Their bills come up to $33,000 every month, The Straits Times, 18 November
2001
3. Drowning in credit card debt, The Straits Times, 5 November 2006
Background of the Citi-NIE Financial Literacy Hub for Teachers
9
Organized by the National Institute of Education, Singapore, and funded by Citi Foundation, this programme offers teachers a
personal finance course for personal development and a pedagogy course on promoting financial literacy in schools. Research
into the effectiveness of the programme and a longitudinal impact study are underway. The Hub provides participating schools
funds for their financial literacy cluster events; a platform where students learn useful financial literacy tips in a fun way.
4. 90% loan can mean financial pain, The Straits Times, 4 September 2005
5. Choosing an adviser for your insurance needs, The Straits Times, 14 October
2007
6. Medical insurance: which type should you buy first, The Straits Times, 26 June
2005
7. More turning to term insurance plans, The Straits Times, 12 November 2006
8. How to plug your savings gap for your retirement dream, The Straits Times, 19
November 2006
9. The sum total of ageing, The Straits Times, 21 September 2007
10. The “A” word, The Straits Times, 4 December 2005
11. Earning cash on your home when your retire, The Straits Times, 12 March 2006
12. Estate Planning by MoneySense, Smart Investor, December 2006
Reading Resources and Reference Materials for Session Two:
Bonds, shares, unit trusts, equity:
Safe haven instruments, The Business Times, 26 March 2007
Structured Deposits:
Tricky investment, The New Paper, 28 November 2006
Beware the risks, The New Paper,19 June 2007
Making Sense of Structured Deposits, MAS
REITs:
Investing in Real Estate Investment Trusts, Pulses, March 2006
In search of yields, The Business Times, 19 September 2007
S'pore listed REITS could hit 30, The Business Times, 21 September 2007
Warrants:
Structured Warrants, Singapore Exchange, December 2004
Warrants: success story, The Business Times, 4 Oct 2007
Warrants: benefit of leverage, The Business Times, 15 Oct 2007
Reading Resources and Reference Materials for Session Three:
Deciding between growth and value, Pulses, October 2006
Making Sense of Your Finance - CDP Account Statement, Singapore Exchange and MoneySense
Background of the Citi-NIE Financial Literacy Hub for Teachers
10
Organized by the National Institute of Education, Singapore, and funded by Citi Foundation, this programme offers teachers a
personal finance course for personal development and a pedagogy course on promoting financial literacy in schools. Research
into the effectiveness of the programme and a longitudinal impact study are underway. The Hub provides participating schools
funds for their financial literacy cluster events; a platform where students learn useful financial literacy tips in a fun way.
Shared Security, Streats, 31 March 2004
Information the key factor, Streats, 3 March 2004
Questions Answered, Streats, 14 April 2004
Market Talk, Streats, 21 April 2004
Understanding Risk, Pulses, August 2006
Dealing with Risk, Pulses, September 2006
Simple Solution, Streats, 17 March 2004
A nice alternative, Streats, 10 March 2004
Background of the Citi-NIE Financial Literacy Hub for Teachers
11
Organized by the National Institute of Education, Singapore, and funded by Citi Foundation, this programme offers teachers a
personal finance course for personal development and a pedagogy course on promoting financial literacy in schools. Research
into the effectiveness of the programme and a longitudinal impact study are underway. The Hub provides participating schools
funds for their financial literacy cluster events; a platform where students learn useful financial literacy tips in a fun way.
Annex 2
Course Framework for Citi-NIE FinLitPedagogy Workshops
(A pedagogy training course for secondary school teachers)
Workshop Description and Objectives:
This workshop is specially designed for teachers to equip them with the confidence and skills to
advocate financial literacy in school. Pedagogical ideas and practices, as applied in the teaching
and learning of financial literacy in day-to-day lessons, will be presented in the workshop.
Teachers will learn how different strategies including games, role play, problem-based learning,
self reflection & cooperative learning can be utilized to engage students in learning, and also to
understand the relevance of school subjects like English Language, Mathematics and Principles
of Accounts.
Duration: 12 hours
Participants: Minimum 20 persons, Maximum 40 persons.
Citi-NIE FinLit Pedagogy Workshop : DAY ONE
Topic
Introduction &
Overview
Coverage
• What is Financial Literacy?
• Why Financial Literacy for:
• Adults (Teachers)
• Students
• Objectives of Workshop
• Workshop Programme
Overview
Experience
Citi-NIE FinLit
Pedagogy
Workshop
•
•
•
Overview of Financial Literacy
standard programme
Financial Literacy programme
objectives
Infusion of Financial Literacy
Citi-NIE FinLit Pedagogy
Workshop programme into life
skills education & subjects in
schools
Pedagogy
Show and Tell using Powerpoint
presentation
Show and Tell using Powerpoint
presentation
Cooperative Learning
Activity I:
Financial Attitude Survey
• Objective of survey
Background of the Citi-NIE Financial Literacy Hub for Teachers
12
Organized by the National Institute of Education, Singapore, and funded by Citi Foundation, this programme offers teachers a
personal finance course for personal development and a pedagogy course on promoting financial literacy in schools. Research
into the effectiveness of the programme and a longitudinal impact study are underway. The Hub provides participating schools
funds for their financial literacy cluster events; a platform where students learn useful financial literacy tips in a fun way.
Topic
Coverage
• Results analysis
• Use of survey results in schools
Pedagogy
On-line survey (individual)
Exploration & Discovery through activity-based learning
Activity II:
Online Flash Game
• Objective of game
• Results analysis
• Use of game results in schools as pre & post-diagnostic tool
Computer game (individual)
Exploration & Discovery through activity-based learning
Discussion:
Lessons learnt through Activities I & II
Showcase I:
Infusion into Principles of Accounts or other cluster subjects
Show and Tell using Powerpoint presentation
Showcase II:
Infusion into Life Skills (Career Guidance for graduating students)
Smart Spending
Show and Tell using Powerpoint presentation
Students’ learning outcomes:
Show and Tell using Powerpoint
• Able to differentiate needs from
presentation
wants
• Learn how to delay instant
Activities:
gratification by cutting down
spending on wants
• Storytelling
• Learn to budget and save
• Hands-On
Activity III:
Exploration & Discovery through activity-based learning
• practise how to spend wisely with limited financial resources
• learn how a government also has to make choices on spending
Discussion:
Lessons learnt through Activity III
Background of the Citi-NIE Financial Literacy Hub for Teachers
13
Organized by the National Institute of Education, Singapore, and funded by Citi Foundation, this programme offers teachers a
personal finance course for personal development and a pedagogy course on promoting financial literacy in schools. Research
into the effectiveness of the programme and a longitudinal impact study are underway. The Hub provides participating schools
funds for their financial literacy cluster events; a platform where students learn useful financial literacy tips in a fun way.
Topic
Coverage
Pedagogy
Showcase III:
Infusion into Mathematics (Lower Secondary)
Buy Now, Pay
Later
Student’s learning outcomes:
• understand why people borrow
• able to differentiate good and
bad credit
Growing Your
Money Savings
Growing Your
Money –
Investments
• Case Studies
Newspapers
Showcase IV:
Infusion into Elementary Mathematics – Compound vs Simple Interest
• Hands-on
• Group Investigation
Field Trip
Student’s learning outcomes:
Show and Tell
• understand the need to save to
meet personal financial goals
• Amazing Race
• understand why banks pay
Online Calculators
interest
• learn the importance of starting
to save early
Student’s learning outcomes:
• understand the need to invest for
longer term goals
• know what is inflation and why
savings alone is not working
your money hard enough
• understand the Risk-return
relationship
• learn what are common
investment alternatives
Show and Tell
Online Game
Activity V:
Knowledge Quiz
Objective of Quiz
Results Analysis
Use of results in schools as post diagnostic tool
Panel Discussion
Questions & Answers Session
Background of the Citi-NIE Financial Literacy Hub for Teachers
14
Organized by the National Institute of Education, Singapore, and funded by Citi Foundation, this programme offers teachers a
personal finance course for personal development and a pedagogy course on promoting financial literacy in schools. Research
into the effectiveness of the programme and a longitudinal impact study are underway. The Hub provides participating schools
funds for their financial literacy cluster events; a platform where students learn useful financial literacy tips in a fun way.
Topic
Coverage
Online Feedback Survey (Individual)
Background of the Citi-NIE Financial Literacy Hub for Teachers
Pedagogy
15
Organized by the National Institute of Education, Singapore, and funded by Citi Foundation, this programme offers teachers a
personal finance course for personal development and a pedagogy course on promoting financial literacy in schools. Research
into the effectiveness of the programme and a longitudinal impact study are underway. The Hub provides participating schools
funds for their financial literacy cluster events; a platform where students learn useful financial literacy tips in a fun way.
Citi-NIE FinLit PEDAGOGY Workshop: DAY TWO
Topic and Coverage
Pedagogy
Brief introduction to course objectives
Appraisal of personal attitudes and beliefs
•
•
K-W-L
Likert Scale
Understanding the world of the adolescent needs, interests, attitudes, influence of peers,
parents, society, media and how these relate to
their
 income
 spending
 saving/investment
•
•
•
Group Investigation (Cooperative
Learning)
Gallery Walk
Post a question
Importance of being financially literate in a
fast-paced and changing world.
Compare the world then and now
Role of teacher as educator / significant other
•
•
Reflection
Rally Robin (Then and Now)
Recap key aspects of financial literacy –
earning, spending, saving, investing and
sharing
What and where to infuse financial literacy into
the curriculum.
Linking earning, spending, saving, investing
and sharing to the different subject areas
Game (Jeopardy)
Summing up
How to infuse financial literacy into the
curriculum:
 Designing lessons for different subject
areas using newspapers, print and online
resources
 Incorporating strategies like Multiple
Intelligence, Cooperative Learning, Role
Play and Concept Mapping
•
•
•
Learning Centres (Differentiated
Instruction)
Group Presentation
Lecture
Learning Centres
Forms and levels of infusion
Background of the Citi-NIE Financial Literacy Hub for Teachers
16
Organized by the National Institute of Education, Singapore, and funded by Citi Foundation, this programme offers teachers a
personal finance course for personal development and a pedagogy course on promoting financial literacy in schools. Research
into the effectiveness of the programme and a longitudinal impact study are underway. The Hub provides participating schools
funds for their financial literacy cluster events; a platform where students learn useful financial literacy tips in a fun way.
Topic and Coverage
Hands on:
 Designing lessons for different levels of
infusion
Pedagogy
 Lecture
 Learning Centre
 Group Presentation
Topic and Coverage
Pedagogy
• Class sharing and K-W-L
• Summing up by facilitator
Addressing issues and concerns:
Implementing in schools
• Planning and scheduling
• Collaborations
Summary
Questions & Answers Session
Evaluation
Background of the Citi-NIE Financial Literacy Hub for Teachers
17
Organized by the National Institute of Education, Singapore, and funded by Citi Foundation, this programme offers teachers a
personal finance course for personal development and a pedagogy course on promoting financial literacy in schools. Research
into the effectiveness of the programme and a longitudinal impact study are underway. The Hub provides participating schools
funds for their financial literacy cluster events; a platform where students learn useful financial literacy tips in a fun way.