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nie race 2008 director's - NIE Digital Repository - National Institute of ...

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HAPPENINGSFinancial Literacy OutreachBy Dr Koh Noi Keng, Chair, Citi-<strong>NIE</strong> Financial Literacy Hub for Teachers, SeniorLecturer, Humanities & Social Studies Education (HSSE) Academic GroupAs part <strong>of</strong> its outreach to the community, the Citi-<strong>NIE</strong> FinancialLiteracy Hub for Teachers recently organised two events to educatethe public in financial literacy. <strong>NIE</strong> News brings you excerpts <strong>of</strong> thesetwo events.Dollars & Sense Financial Literacy CarnivalThe Frontier Community Club at Jurong West was abuzz withactivities on Saturday, 26 July <strong>2008</strong> with the launch <strong>of</strong> Dollars &Sense, a financial literacy carnival. More than a thousand peopleattended this event g<strong>race</strong>d by Minister for Finance, Mr TharmanShanmugaratnam.Aimed at imparting budgeting and life skills to middle incomefamilies, this event was a tripartite effort between Citi-<strong>NIE</strong> FinancialLiteracy Hub for Teachers, Keat Hong Grassroots and Citibank Singapore.The event included carnival-style activities and talks for both adultsand children to promote financial literacy, such as the FinancialEducation Amazing Race and Finsy Litsy Spider.For Financial Education Amazing Race, participants travelledthrough different stations <strong>of</strong> fun-filled financial education adventures,getting their passport stamps at each station and accumulatingpoints for their teams.In Finsy Litsy Spider, aimed at secondary school children,blindfolded participants had to navigate a ‘spider-web’ guidedverbally by their team mates to pick up question cards to beanswered later for bonus points. Through the game, students weretaught not to get caught in a debt trap or make investment decisionsbased on hearsay.Besides the activities, financial education talks on "Saving for yourchildren's education" and "Is your CPF enough for your retirement?"were conducted by financial experts from Citibank and CreditCounselling Singapore. There was also a talk on energy saving bythe <strong>National</strong> Environment Agency to promote prudent usage <strong>of</strong>electricity and to help households reduce their utility bills.Students from Holy Innocents’ High SchoolFinancial Literacy And EnterprisingRetailing Team Challenge <strong>2008</strong>From 7 to 8 June, groups <strong>of</strong> Secondary Three students had a taste<strong>of</strong> what being an entrepreneur means. Participating in theinaugural Financial Literacy and Enterprising Retailing TeamChallenge <strong>2008</strong> held at Anchorpoint Shopping Centre, the studentshad to set up stalls and attract shoppers to buy their products.The challenge aims to foster and cultivate an entrepreneurialmindset among students by giving them an opportunity to putinto practice what they have learnt in the Elements <strong>of</strong> BusinessSkills (EBS), a new GCE ‘O’ Level subject that aims to impartfoundation knowledge and skills in the services sector.11 teams from nine schools participated in the competition. Eachteam, comprising 10 students, was given the autonomy tomanage all aspects <strong>of</strong> its business including marketing, customerservice and finance management.Mr Wong Kai Hong, advisor to the project said, "This inauguralretail competition challenges students to execute what they havelearnt in class in a real-life setting such as in a shopping mall,while experiencing first-hand what frontline operations in theretail industry is like,"Supported by the Ministry <strong>of</strong> Education (MOE), Financial Literacyand Enterprising Retailing Team Challenge <strong>2008</strong> was organisedby Yuying Secondary School and Citi-<strong>NIE</strong> Financial Literacy Hubfor Teachers, in collaboration with the Association <strong>of</strong> CommerceEducators Singapore (ACES).Schools that participated in the Financial Literacy andEnterprising Retailing Team Challenge <strong>2008</strong>:First Toa Payoh SecondaryHoly Innocents High SchoolMayflower SecondaryWestwood SecondaryZhenghua SecondaryGan Eng Seng SecondaryHong Kah SecondaryMontfort SecondaryYu Ying SecondaryMr Tharman Shanmugaratnam, Minister for Finance (in red)observing participants at the Finsy Litsy Spider gameStudents from Monfort Secondary School18

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