Families are opting for money management classes over traditional enrichment activities.
In Singapore, parents are increasingly prioritizing financial literacy over traditional extracurricular activities such as art or dance. Stella Hoh, a mother of three, chose to equip her children with essential money management skills from a young age.
Early Lessons in Financial Education
Ms. Hoh’s youngest son, Ku Yu Heng, attended his first financial literacy class at just 10 years old. Now 16, Yu Heng has developed a strong foundation in budgeting and money management—skills that many adults struggle to master.
“While creativity and physical activities are important, I felt that understanding how to manage money is a life skill that can’t be overlooked,” said Ms. Hoh.
Learning Through Play
The family makes financial education enjoyable by playing board games like Wealth and Joy Simulation, designed to teach budgeting, investment strategies, and the value of saving. These games provide an interactive way to reinforce lessons learned in class.
“By using these games, my kids not only learn but also enjoy the process, which helps them retain these essential skills,” she explained.
A Growing Trend
Financial literacy programs are gaining traction as parents recognize the importance of preparing their children for real-world financial challenges. Educators and financial planners encourage starting these lessons early to instill good habits and confidence in handling money.
From understanding needs versus wants to basic investment concepts, these classes aim to bridge the gap left by traditional schooling.
Building a Financially Savvy Generation
As the demand for financial education grows, programs are evolving to cater to different age groups, ensuring children can progressively build on their knowledge. Parents like Ms. Hoh believe these skills will give their kids an edge in managing personal finances and making informed decisions in adulthood.
