Insight 1
Competitor Analysis
1. Online Financial Websites
Seedly is one of Singapore's biggest personal finance communities/websites.
​
Seedly focuses on helping its community take control of their personal finances through crowdsourced knowledge from peers.
Hover here for more information
Strengths?
Mobile Application
Seedly has an expense tracking app which allows users to manage their finances, learn from the community and compare financial products.
Convenient, Fuss-Free and Actionable
Weaknesses?
Posts in community forums may potentially be biased & mislead youths who follow it.
Potential Biasness
What did we learn?
Seedly's main selling point is their interconnected community forums.
IFL can start by providing youths a forum to discuss about their personal finances with the master trainers. As well as developing students who are interested in personal finance.
Moneysmart is one of the leading Singapore personal finance websites.
Their websites main purpose is to empower financial consumers to make more financially smart decisions
Hover here for more information
Strengths?
1
User Friendly Website
Covers a wide range of up to date financial topics on their website in an easily understandable manner.
Content and topics are organised in a orderly and efficient manner
Weaknesses?
1
Poor Youth Engagement
Only shows articles and they are at times very lengthy and can make youths bored easily and forget about what they are reading.
Learning Points
MoneySmart’s manner of laying out financial topics in a simple and easy to understand manner is good to adopt. However, it is important to have a strong online presence to ensure that the content are continuously circulated peer to peer.
2. Online FinLit Programmes
CITI-SMU FinLit Programme
The program aims to help young people improve their financial management skills and make more financially informed decisions.
​
To help youths get a head start in building a solid foundation before embarking on their next stage of life.
Hover here for more information
What they did this year
Virtual Carnival
For 2021, they organised a “My Money @ Campus” Virtual Carnival, partly organized by Moneysense.
The goal is to impart financial literacy and money management concepts to students through online games
Hover here for more information
DBS-ITE FinLit Curriculum
Rolled out in 2020, engaging over 27,000 youths, while introducing their financial planning tool “NAV Planner".
​
Through implementing MoneySense’s financial education curriculum, the program teaches youths on the importance of adopting a good financial behaviour
Hover here for more information
Outcome of the program
95%
Survey respondents from the programme stated that it helped them learn and implement the basics of managing their finance.
What are they doing well at?
The program focuses on very specific modules and has a clear start to end objective in mind.
Youths learn better by doing, and so there is a need to incorporate hands-on activities to help them internalise learning by putting concepts into practice.
