7 Best Websites To Increase Your Financial Literacy
Singapore boasts one of the top-ranking education systems in the world, with the nation-state ranking third out of 39 countries in a global study carried out by forecasting service Economic Intelligence Unit.
Yet, it is strange that Singapore's financial literacy rate fails to be on par with our educational ranking, placing us at the sixth place out of 16 in Asia-Pac.
For a country known internationally as a crucial financial hub in Asia, surely Singaporeans can do better.
Even if you are not looking at investing or buying into any financial products, increasing your financial literacy will help you personally in terms of striking up conversations during networking or during a job interview.
We've listed 7 of the best websites here to help you increase your financial literacy; remember, consistency is key and do visit the pages from time-to-time to keep yourself updated on the latest happenings!
One of the most comprehensive websites you can find that introduces financial products, trading and anything under the roof about finance. Each section is also broken down into bite-sized chapters so that you can always take a break and continue later when all that information is too much for your brain. Topics and articles on the site range from personal finance, hot topics happening in the current markets, trading strategies to wealth management.
Prefer something more local that you can relate to? Moneysense is the national financial education programme for Singapore providing educational information to help you better understand financial products and learn how to manage your money. The site is a treasure trove for the absolute newbie who wants to find out about the investments products available in Singapore, what they need to look out for and the risks involved.
There's also a huge focus on insurance education and financial planning. While the content may be a little dry and technical, it is a great place to start for those who have the time and patience to comb through the site.
3. SGX Academy
For those who are into stocks trading or what's to get a headstart into it, the SGX academy provides a great resource for those who wants to learn about investing in a fun and easy way. Unlike other sites who stick to written content, SGX academy provides free e-courses as well as video tutorials to get you to learn trading. Using videos to learn is a great way for those who prefers visual stimulation; on top of that, there's also lots of examples used to help you better understand the mechanics of stocks-trading.
The foreign exchange market is probably one of the biggest in the world due to its high liquidity and huge trading volume. Because of the easy access and the market operating 24 hours a day (except weekend), it is a popular choice for traders all over the world.
Babypips provides a great resource for anyone who wants to learn Forex trading and has a very cool “school system” that lets you chart your process when you go through the different levels, starting from preschool all the way to graduation. Other than that, the site also has an active forum where traders exchange views and update each other about market happenings.
- Financial Market News
The financial market never sleeps, since there's always an active market going on round the clock. It is thus extremely important to follow financial news closely to get yourself updated about the latest happenings. There are many websites online where you can get the latest financial markets news, but some of our favourites include:
No doubt the authority in financial media – get the latest updates on what's happening in trading, upcoming economic indicators, as well as overviews and insightful articles about various asset classes.
6. Yahoo finance Singapore
For a more local take on financial news, Yahoo Finance Singapore doesn't only talk about the macroeconomy stuff, but also touches on policy changes in Singapore, property news as well as personal finance articles.
7. The Edge Property
The Edge Property focuses on the property market; while having its roots in Malaysia, the financial media has established a foothold in Singapore and covers analytical pieces on the state of the real estate market, latest launches, transactions and sales and even works as a property portal for one to search out potential purchases.