Young Adults with Outstanding Bank Balances

A study by Citi Foundation-SMU Financial Literacy Programme for Young Adults found that a third of young respondents are not confident in managing debt. Furthermore, close to a fifth already find it difficult to make ends meet.

Most interestingly, the study also found that Financial Inclusion, Wellness and Resilience (FinWR) scores differ across different disciplines of study. Specifically, respondents from Business, Information and Digital Technology are more likely to score well compared to respondents from Art, Design, Media and Dentistry.

High FinWR scores generally relate to better financial literacy, and a higher resilience in withstanding financial challenges, in the light of poor job opportunities in the pandemic and the evolving financial landscape.

To find more about how your course of study fared, read here.