Author
SMU Office of Corporate Communications
Date
13 September 2021
Inaugural study by Citi Foundation-SMU Financial Literacy Programme for Young Adults suggests the need for more efforts to improve young adults’ financial literacy and financial resilience.
Researchers at the Citi Foundation - SMU Financial Literacy (FinLIT) Programme for Young Adults hosted in the Sim Kee Boon Institute For Financial Economics at the Singapore Management University conducted the inaugural Financial Inclusion, Wellness and Resilience (FInWR) survey between March to April 2021. This national benchmarking survey included 1,068 respondents who are young adults aged between 18-30. It aims to understand the factors influencing financial wellness - including financial literacy – amongst young adults in Singapore, and to ascertain their capacity (i.e. resilience) to withstand financial challenges, in light of potential disruptions caused by the ongoing pandemic, the changing financial landscape and the evolving job market.
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