South East Community Development Council (CDC) launched the MoneyWise Programme in 2006 to equip low-income families with valuable financial planning skills such as budgeting and good saving habits. Our initiatives impart useful life skills and knowledge that enable the families to achieve longer-term self-reliance
In 2011, Citi Singapore became the title sponsor and introduced the Matched Savings Programme for students from low-income families.
Citi-South East MoneyWise Matched Savings Programme
This programme is targeted at primary school students who are under the Ministry of Education’s (MOE) Financial Assistance Scheme (FAS) within South East District. It seeks to achieve the twin objectives of financial education and asset building. The long-term goal is to enhance the financial capability of children from low-income families.
Throughout the entire programme’s eight-month duration (April to November), students are encouraged to save from between $1 to $10 per month. Their savings will be matched dollar-for-dollar, up to a maximum of $80, at the end of the programme.
Citi volunteers will conduct monthly mentoring sessions for the students, and will impart useful financial skills and knowledge; guide and advise them on how they can overcome barriers that they may encounter in trying to achieve their savings goals.
Students may receive up to a maximum of $170 worth of incentives like bookstore vouchers or cash top-ups, including the matched savings, for their commitment and effort in attending the mentoring sessions and in saving regularly.
A financial literacy workshop will be conducted during the June holidays to increase the students’ interest and knowledge in financial literacy through fun and hands-on activities.
The programme will conclude with the annual Appreciation Ceremony for participating students and their families. Students will be presented with a certificate of achievement to recognise their effort.
We recognise that financial education is an integral life skill and is important to children of all backgrounds. We intend to broaden our outreach to more students through roadshows. We hope to use fun and interactive activities to impart financial knowledge to students.
The roadshows would be cohort-based, with the aim of reaching out to at least 200 students per session. Each session will last between one to three hours, depending on the needs of the school and the participating students.
Partners who are interested in Citi-South East MoneyWise Programmes, please contact Ms Pang Siew Luan at 6319 8756 or Siew_Luan_PANG_from.TP@pa.gov.sg.
Moneywise Train-the-Trainers Workshop
There's an age-old adage that goes "give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime." Instead of solving the immediate problem, it is better to equip someone with the life skills needed to support themselves in the long run.
The train-the-trainers workshop is targeted at partners such as, Family Service Centres (FSCs) and Voluntary Welfare Organisation (VWOs), who are keen to conduct financial literacy workshops but lack the necessary skills, support and materials.
Under the guidance of a qualified trainer, they will be taught on the necessary skills to become a trainer by themselves. At the end of the workshop, a copy of the trainer’s guide and instructional video will also be given to them. In addition, South East CDC will also provide collaterals and resources.