This course provides the foundation and understanding of savings, budgeting, credit, investment, insurance, retirement in one’s financial journey. This is suitable especially for those working in the gig economy.
To equip participants with basic financial literacy knowledge and skills in cash, debt management, personal insurance, investment and retirement planning.
1. PERSONAL FINANCIAL HEALTH
- Importance of financial goal-setting and setting financial goals
- Understanding key financial ratios (Net Worth, Emergency funds, Savings, Debt and Investment) to assess one’s financial health
- Taking remedial actions to restore financial health
2. CASH MANAGEMENT
- Tracking expenses and income using mobile cash budgeting apps
- Determining needs and wants
- Setting savings target
- Voluntary versus mandatory CPF contributions
3. DEBT MANAGEMENT
- Evaluating one’s circumstances when considering taking on a debt, capacity, amount of loan
- Understanding the dangers of borrowing
- Seeking help to manage debt
- Rental of vehicle versus Buying a vehicle (Case study)
4. PERSONAL RISK MANAGEMENT AND INSURANCE PLANNING
- Understanding types of insurable personal risks
- Calculating one’s insurance coverage
- Understanding the different types of insurance policies suitable for gig economy
5. INVESTMENT PLANNING
- Assessing personal risk tolerance
- Understanding common investment products and their risk classification- low, average and high risk
- Using dollar cost average to accumulate wealth over time
- Utilising online calculation tools for investment
6. RETIREMENT PLANNING
Never too early to plan for retirement Importance of long term planning and compounding CPF tools available
Course Date: TBC
Application Period: TBC
Duration: 8 hours
Time: 9am to 6pm
Delivery Mode: Classroom
Ngee Ann Polytechnic reserves the right to reschedule/cancel any programme, modify the fees and amend information without prior notice.
Kek Weng has been involved in academia for the past three decades in polytechnic education having assumed Course Chair in the Diploma in Banking & Financial Services, Ngee Ann Polytechnic. He is knowledgeable and experience in curricula development, pedagogy and delivery having assumed many teaching appointments as Module Leader, tutor in a myriad of modules including “Investments”, “Financial Markets & Services,” and “Credit Management“, “Treasury,” “Risk Management” “ Financial Management”, “Macroeconomics”, “Accounting & Finance”, “Business Statistics”. He is currently a Special Associate and Module leader helming the module in “Wealth Management”.
He completed and passed all the academic requirements leading to the CFPTM certification in Financial Planning. Besides teaching, he has conducted training courses for MOE to Commerce stream secondary school teachers, Civil Service College and undertaken curriculum development for Finance modules in Diploma Programmes for the Singapore Institute of Management. He has also conducted FinLit courses to secondary schools where it was very well received. He was also contributed to the preliminary concepts and discussions for the roll-out of a mandatory Financial Literacy programme for students in the Institute of Technical Education (ITE) and the polytechnics. He continues to pursue his interest and passion is in Financial Literacy where he currently volunteers in church both as a as a part-time counsellor as well as involved in the area of financial counselling.
Prior to joining Ngee Ann Polytechnic, he worked for 6 years in a Japanese merchant bank. During his stint in the merchant bank, he was responsible for the Corporate Banking Department and took charge of the funding, credit administration of the bank’s loan portfolio. He was subsequently seconded to the UK office for 2 years as a Bank Dealer and assumed responsibility for treasury operations in money market trading for the bank.
Participants who have attained 75% attendance and passed all assessments will be awarded certificate of participation.
Basic Proficiency in English
Funding period for this course is from 15 Jul 2021 to 30 Sep 2024.
All Singaporeans aged 25 and above can use their $500 SkillsFuture Credit from the government to pay for a wide range of approved skills-related courses. Visit the SkillsFuture Credit website (www.skillsfuture.sg/credit) to choose from the courses available on the Training Exchange course directory.
Enhanced Training Support
For enhanced training support, enter SME in the promo code during course application.
This course is eligible for Absentee Payroll.
Ngee Ann Polytechnic reserves the right to reschedule / cancel any programme, modify the fees and amend information without prior notice.
|Applicants / Eligibility||Fees|
|Full course fee after GST||$310.30|
|Singaporeans aged below 40, Permanent Residents & **LTVP+ qualified for SkillsFuture Funding||$93.09|
|Singaporeans aged 40 & above qualified for SkillsFuture Mid-Career Enhanced Subsidy||$35.09|
|Singaporeans, Permanent Residents & ##LTVP+ qualified for Enhanced Training Support for SMEs||$35.09|
|Others (and Repeat Students)||$310.30|