The SMU Financial Literacy, Inclusion, & Technology Programme is a transformative education initiative meticulously designed to empower young adults with essential financial knowledge and skills.
According to the most recent study, Klapper and Lusardi (2020) highlighted young adults aged between 15-35 ranked second lowest among groups who are financially literate among advanced economies based on the 2015 S&P Global Financial Literacy Survey. In 2023, the Etiqa Financial Fitness survey further highlighted that 1 in 3 Gen Z and millennials today lack confidence in making sound financial decisions during economic stress.
In a competitive landscape where money often has the final word, there is a pressing need for young adults to learn about taking control of their finances. Many will want to start planning a roadmap to financial success. This is where the programme aims to help answer the million-dollar question: how to stay the course and build lifelong wealth?
All of the essentials are included in this world-ready programme. These include finance skills that will help young adults to manage their money, accumulate wealth and gain a solid head start in life.
The one-of-a-kind financial education programme was initiated after a 2005 National Financial Survey reported that young people need expert help to understand their finances. Next to retirees and the unemployed, young people rank as the least prepared when it comes to financial management and planning for their financial milestones. These are the critical skills, essential to survival in the 21st century.
