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Citi-Tsao Foundation Financial Education Programme for Mature Women
The Citi-Tsao Foundation Financial Education Programme for Mature Women helps women to manage their finances better. It aims to provide practical suggestions for understanding how money works and how women can take charge of their finances to be financially independent in their older years.
The programme is open to women aged between 40 and 60 years old and with monthly household incomes ranging from S$1,500 to S$3,500.
Through the series of facilitated learning sessions, participants will be equipped with critical life skills such as saving and planning for the long term, growing their small surpluses and negotiating for their financial options successfully.
What’s in it for the women?
The programme curriculum covers five modules with 20 weekly sessions. Each session is conducted for 3 hours and designed to include training, workshops and support groups.
At the end of the 20 sessions the participants prepare and draft a clear financial plan for their own old age.
The curriculum focuses on two major areas:
1. Personal finance
2. Social empowerment
Personal finance covers topics such as savings, debt, investments and insurance among others. Social empowerment aims to build the women’s capability to understand their roles and the relationship dynamics within their families; to negotiate for support among their family members; to be equipped with the appropriate knowledge in having transactions with financial institutions, and to be adequately prepared for old age.
MODULE 1: SELF-ASSESSMENT AND LOOKING INTO THE FUTURE
in this first module, participants assess how they manage money and manage their lives – as mature women. They will be assessing their ability to handle finances, as well as their attitudes to ageing. By the end of the module, they should get to the point where they know what they want to do with the rest of their lives and can set goals for themselves.
Session 1: Overview of the programmme
Session 2: Appreciating Ageing
Session 3: Balancing the Finances
Session 4: Facing the Future
MODULE 2: FINANCIAL SAFETY NETS
The second module is about knowing what they have to fall back on in case of emergencies. The first two sessions are about CPF and life insurance. The second two sessions explore the importance of having good negotiating skills and being able to handle problems.
Session 1: Understanding Safety Nets and CPF
Session 2: Life Insurance
Session 3: Negotiation (Getting to Yes)
Session 4: Relationships and Communication
MODULE 3: COMMON FINANCIAL INSTRUMENTS
The third module looks at the how banks operate, different kinds of savings products, the importance of understanding how credit cards work and how to check up on their financial well being. By the end of the module they should be able to see the importance of being able to be a good money manager.
Session 1: Banking Services and Products
Session 2: Savings
Session 3: Loans
Session 4: Debt (Being Careful About Borrowing)
MODULE 4: INVESTMENTS AND ENTREPRENEURSHIP
The fourth module is equally divided between the topics of investments and entrepreneurship – both, in their own way, ways of ‘making money. The women will be seeing what is needed to be a good investor and a good business woman.
Session 1: Basics of Investment and Risk
Session 2: Making Investments Work
Session 3: Entrepreneurship
Session 4: Business Management
MODULE 5: EMPOWERMENT AND THE FUTURE
The fifth module begins with the very important issue of how to make a good will and then tackles the important issue of preparing for retirement. The third and fourth sessions are mostly devoted to the subject of financial planning. In many ways, the whole programme leads up to the task of developing their own financial plan.
Session 1: Estate Planning
Session 2: Coping with Crisis
Session 3: Financial Planning
Session 4: Owning the Programme
Interested to participate in the training? Download the Registration Form
Here is a list of Community Centres where the programme is being offered.