Approaches to teaching financial literacy: Evidence-based practices in Singapore schools

Abstract

As financial literacy is quickly becoming one of the most important twenty-first century skills, educators worldwide are striving to develop and implement financial literacy programmes that are targeted at different age groups and education levels. This chapter gives an overview of the Financial Literacy Hub for Teachers that was established in the National Institute of Singapore in 2007 and has become an incubator of innovative financial literacy programmes that have been introduced and effectively implemented at all levels, from preschools to tertiary institutions. The chapter outlines evidence-driven approaches to curriculum development and programme implementation that have been informed by the latest research findings in the field of financial literacy education. The Hub's approach that emphasizes partnerships with educational institutions, development of scalable programmes through gamification and ICT-enabled learning can serve as a model for financial literacy education worldwide.