The Be$mart Financial Literacy Programme, an initiative by the CIMB Foundation, was held on the 8th and 9th April 2017 at Taylor’s College Subang Jaya. Organized by the Taylor’s College South Australian Matriculation/SACE International Economics Department, the focus of the two-day programme is to educate young adults on the importance of financial literacy and provide the basic skills for practical and successful financial planning.
The interactive 2-day programme was attended by students from the South Australian Matriculation/SACE International as part of their out-of-classroom learning activities in the year. Using collaborative and experiential learning methods aligned to the SACE International classroom experience, participants learned how to read the stock exchange page in the newspaper, how to manage their monetary investments in make-believe companies and learn how to bounce back from bankruptcy through role-play, competitive games and group work where they apply their knowledge from classroom learning coupled with the hands-on learning conducted throughout the financial literacy programme.
The concept of delayed gratification, one of the many important habits that would help in achieving financial success were also discussed. Participants were further motivated to apply their knowledge and hone their skills during the on-the-spot quizzes where they were rewarded with “money” that they used to accumulate their group’s “wealth”. Adding on the excitement is the face to face Q&A sessions with guests from the finance industry where participants were given practical advice on managing money and spending habits as well as tips on becoming prudent investors.
The forum sessions were well-received by the participants as they were conducted informally with many opportunities for sharing and discussion amongst them. Participants not only got to learn and apply their acquired knowledge, they were also encouraged to become the group with the highest wealth accumulated at the end of the two-day programme thus becoming the winners of the Be$mart competition. Winners received individual PRS (Private Retirement Scheme) accounts under CIMB.