NYC Youth Panels - LifeHacks

THE CHALLENGE:

How might we improve financial literacy among youth and enable them to take the necessary actions to improve their financial resilience to adapt to changes in the present cost-of-living climate?

RECOMMENDATIONS:

To support youth in becoming financially resilient, the #LifeHacks panel proposes a Financial Literacy Excellence (FLEX) Guide, a one-stop resource that aims to guide youth to make informed financial decisions at important life stages, and a Starter Savings Plan to support lower-income Singaporeans in building emergency funds and improving their financial well-being.

Answer These 5 Questions to
Contribute Your Insights

Q1. How likely are you to make changes to your financial habits, based on the suggestions and goals shared through the Financial Literacy Excellence (FLEX) Guide?

Very unlikely

Unlikely

Neutral

Likely

Very likely

Q2. What kind of financial goals would you like to see the Financial Literacy Excellence (FLEX) Guide address?

Q3. What incentives and systems could be introduced to incentivise and support lower-income Singaporeans to build up three to six months of emergency savings?

Q4. What steps do you currently take to reach your financial goals?

Build income (e.g., jobs, side hustles)

High-interest savings account

Financial instruments (e.g., stocks, bonds, options, REITS, crypto)

Budgeting

Nothing

Q5. Any other comments for #LifeHacks?

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