Author
Chandra Gunawan
Date
21 July 2021
In an interview with Currently.sg (by SPH), Assistant Professor of Finance Aurobindo Ghosh, Program Director for the Citi Foundation-SMU Financial Literacy Program for Young Adults, and Christopher Yap, President of the Citi Foundation-SMU Financial Literacy Club discussed and shared their insights on the financial literacy of young adults in Singapore.
In 2005, Singapore’s first national financial literacy survey conducted by the MoneySENSE Financial Education Steering Committee showed that young adults aged from 18 to 29 were at greater risk of having the lowest level of financial literacy.
On this, Professor Aurobindo Ghosh outlined, "Singaporean millennials and fresh graduates are quite financially literate, as is evident from both interactions and assessments we conducted. However, while young adults have a good grasp of knowledge about financial literacy and products, they might not be as financially savvy as they have less experience making financial decisions independently."
What exactly is financial literacy?
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