Marriage & Family

4 Important Things Teens Don’t Know About Finances

An eye-opening study showed that only 17% of teenagers between the ages of 12 and 17 knew how to manage their money. Among these respondents, 24% said they did not know the difference between credit and debit cards. Budgeting was a concern as well as learning how to save money. One of the reasons why the teenagers lack knowledge of money matters boils down to their parents. They elaborated that their parents were not doing an excellent job in teaching

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Personal Finance

Your Ultimate Guide To Financial Literacy: What It Is & How To Improve It

DEFINITION Financial literacy is the ability to understand and efficiently use various financial skills including financial management, investing, and budgeting. Financially literate consumers not only manage their money with confidence, but also have a better chance of handling the inevitable ups and downs of their financial lives. It is the foundation of your relationship with money, which enables you to create a lifelong journey of learning. It will help you understand how to prevent and manage financial issues as they

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Investments

Should you let a robo-adviser dictate how you invest your money?

UOBAM robo-adviser

Several consumer-facing Financial Technology (FinTech) companies, from digital payments to insurance and transfer payments, have arisen to support Singaporeans’ personal finances. You may have heard of robo-adviser companies such as StashAway, Syfe, and AutoWealth that help with investments. What are robo-advisers? To optimise investment portfolios according to the risk profile of the customer, Robo-advisers rely on algorithms. In reaction to market changes, portfolio readjustment is performed automatically. As such, there is little need for active monitoring by the investor with

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Personal Finance

Sign your kids up for these useful enrichment classes to teach them about money management

Money management for kids

According to the Ministry of Education’s (MOE) mathematics syllabus, your child would begin learning more about money from primary one. To be more specific, they will start learning how to count in cents up to a dollar, and in dollars up to 100 SGD. By the end of their primary one academic year, they should be able to solve one-step problems like the addition and subtraction of money in dollars or in cents. But learning how to count is vastly

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Personal Finance

Overcoming 3 Financial Issues That Young Singaporeans Face

We encounter several new hurdles as young adults. We no longer receive a daily allowance from our parents and we have to pay the bills. Not to mention, our financial capabilities are seemingly low at the start of our careers. On that note, here are three financial issues that young Singaporeans face and ways to overcome each one… ISSUE #1: LACK OF FINANCIAL KNOWLEDGE We cannot deny the fact that personal finance is rarely taught in schools. According to Kevin

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