By: PanzerGrenadier Originally Posted by Panzer at kidsRICH. Singapore has one of the world’s highest literacy rates in writing, arithmetic and reading (3Rs - reading, ‘riting, ‘rithmetic), but we also have one of the highest financial illiteracy rates. Why are most Singaporeans financially illiterate? Financial literacy in my days of schooling was not taught in any formal way. About 50% of my financial literacy knowledge was gained from getting educated through reading personal finance books in the public libraries and in the last couple of years through financial blogs and websites. So where does the other 50% of financial literacy come from? It comes from my parents. Now that I am a father myself, I realise that besides providing the basic necessities and love for my daughter to thrive in this world. I also need to impart to her financial literacy skills even as I teach her the 3Rs. So how can you as a parent or concerned relative teach your child, nephew, niece or student financial literacy? You can of course borrow books from the library about financial literacy and personal finance and a good starting point is this article on the MoneySense website which is sponsored by the Monetary Authority of Singapore. I will review their article titled, “Getting Your Kids Started on Money Management.”