GE Money scheme to help 'girls-at-risk'

GE MONEY has launched the first financial education programme in Singapore directed at troubled teenage girls aged between 14 and 16 years.

The lender is partnering Children-at-Risk Empowerment Association (Care) Singapore - a non-profit, voluntary welfare organisation - to address the learning needs of this group.

With about 90 per cent of Care's students coming from the Normal (Technical) Stream, the scheme will reach out to girls from Secondary 2 to 4 in its network of eight neighbourhood schools.

The scheme has been designed to address the needs of 'girls-at-risk'. They are most commonly those facing academic weakness, financial risk, social adjustment issues or even juvenile delinquency.

Under the programme, each student will be trained to have a better understanding of how to best use and manage money. By participating in games and learning activities, they will be exposed to understanding the differences between needs and wants, and how to save for financial goals.

'We hope to provide a greater sense of hope by instilling a better understanding of the value of money and a stronger sense of responsibility,' said GE Money's chief marketing officer, Mr Alok Kumar. 'We believe that these values will play an important role in helping 'girls-at-risk' break free from the cycle of disadvantages and they will also serve them well as they grow into adulthood.'

The programme will reach out to about 600 such girls over three years.

The focus on 'girls-at-risk' is in line with GE Money's Banking on Women philanthropic programme that invests in women by creating opportunities for them and their families.

Teachers welcomed the move, saying the programme will equip students with the values of responsible saving.

'These basic values are essential for our students and will help them to contribute positively to their families and the community,' said Mr Adrian Tan, current head of department for the Normal (Technical) stream at Shuqun Secondary School.

But for the scheme to be more effective, the girls participating could be of an older age, said Ms Felicia Low, a teacher at NorthLight School, which provides secondary education for primary school leavers not eligible for mainstream secondary schools, or who have dropped out of secondary school.

She said girls between 14 and 16 years old deal more with esteem issues and that money management may not be a top concern for them.

Once these girls are older, such as when they are 18 or 19, they may start to work and then money management skills will come in handy, she said.