Money lessons I share with my children
June 15, 2026
Should I write about money lessons for children? Two years ago, I wrote the blog post “Teaching children about money”. However, unlike the very popular post “Another PSLE result release day”, not many read it. Apparently, blogging about PSLE has nine times more views.
Obviously, Singapore parents think helping their children to score well in public exams is far more important than teaching them how to manage money. Many parents believe doing well in studies promises a good job in the future. And money will come and grow naturally.
Typical bankrupts are middle-income earners in their 40s and 50s
According to a Singapore debt counselling organization, among people who seek help for serious debt problems, 85 percent are middle-income earners. Only 10 percent are from the low-income groups. As for high-income earners, they usually have much larger debts.
Contrary to what everyone thought, a typical bankrupt in Singapore is not a young person who overspends. Government data show that almost half of bankrupts are between the ages of 40 and 54. It is because this group of people have higher income, more financial commitment, and better access to bigger loans. Unfortunately, they are also highly susceptible to retrenchment, investment loss and business failure.
One day when our children reach their 40s and 50s, if they don’t have financial literacy or the right concepts of money, are we still around and able to help when they run into financial troubles?”... read more