Financial literacy test for wannabe hawkers?

I ended Double confirm GE in 2019: Free lunches for two yrs for KPKBing hawkers saying “Dollars and Sense” of a Hawker Stall should be required reading for wannabe hawkers.

I’m still unable to find out from their agitator friends if the newbie hawkers had read and understood what they were signing up for. If they had (have to assume they are not cybernuts, but educated S’poreans: yes, yes a big assumption), then the real issue is whether their projected revenues were overoptimistic. And if so, did the operators over-promise but the newbie hawkers didn’t realise that they were being taken to the cleaners, or did the hawkers cock up their estimates of footfall etc?

So maybe budding hawkers got to pass a financial literacy course?

After all

A financial education curriculum will be rolled out to all polytechnic and Institute of Technical Education (ITE) Year 1 students from next year, as part of government efforts to boost financial literacy among Singaporeans and help them manage their money well.

The mandatory module, which will not be graded, will focus on budgeting, goal-setting and financial basics such as the effect of compound interest on debt and savings.

Additional modules will also be piloted with some Year 2 and 3 students over the next few years to help them become more savvy consumers and learn how to use insurance, investments, and national schemes such as the Central Provident Fund.

This was among several new initiatives announced on Saturday (Nov 17) by MoneySense, Singapore’s national financial education programme.

An online financial health check tool for all Singaporeans and permanent residents was also launched at the roadshow at Our Tampines Hub, which will run until Sunday before moving to the HDB Hub in Toa Payoh on Dec 8 and 9.

The questionnaire, which is available on the MoneySense website, helps to assess progress in areas such as money management, insurance, investment, retirement and estate planning, and provides recommendations to address the gaps identified.

Services at key government touchpoints will also be enhanced to help Singaporeans better understand their financial options at milestones such as buying a flat and preparing for retirement.

ST recently

Another constructive suggestion: include a module on how to make realistic projections and another on “take nothing the operator of hawkers’ centres says on trust”.

Yet another constructive, nation-building suggestion: screen out the cybernuts especially those from TRELand.

Because if the newbie or wannabe hawkers are anti-PAP cybernuts, no point even trying to educate them, let alone subsidise them in the hope that their revenues will grow because of improving footfalls by 2020. It’ll be a waste of tax-payers money that can better go to fund our ministers millionaire life styles.

Worse, there’ll be a spate of food poisoning as cybernut hawkers would prefer to read TOC and TRE and KPKBing on these sites rather than cook good, hygienic food. Morocco Mole tells me that his cousin in NEA tells him that many of the recent fatal food poisoning cases are suspected to be the consequence of employees reading and posting on TRE rather than on focusing on food preparation.

 

Cynical Investor

Cynical Investor blogs at Thoughts of a Cynical Investor

 

 

 

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2 Responses to “Financial literacy test for wannabe hawkers?”

  • HarderTruths:

    These hawkers know more about finance than the pappy clowns.

    How do the clowns expect to test some hawker with more know-how than themselves?

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  • LIONS:

    Oh,btw,IRAS N OTHER AGENCIES are already collecting so much REVENUE that more than cover EXPENDITURES NATIONALLY.
    If govt just wants to COLLECT MORE N MORE MONEY from ordinary citizens n every govt agency aims for PROFITS N BUDGET SURPLUSES,i dont know what the GOVT IS FOR THEN.

    Might as well allow other businesses to collect money as well?

    Private sector is not the same as PUBLIC SECTOR.
    But,in $in City,the govt keeps $ucking $$$ from its citizens non-stop.

    Is this the right kind of govt?
    Are they doing things for the people,the PUBLIC,or are they doing things for $?

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