The Faculty of Accountancy and Management (FAM)
organised an engaging and educational Financial Planning Workshop tailored
to enhance financial planning skills among young learners on 13 December
2024 at UTAR Sungai Long Campus.
Eighteen students and three teachers from TDET
Homeschooling Centre participated in the workshop conducted by FAM
Department of Economics Head Mr Low Choon Wei and students. The session
aimed to provide participants with hands-on experience in managing personal
finances. The session also included a game that introduced essential
concepts such as income, savings, planned and unplanned expenses, and
financial decision-making by simulating real-life scenarios.
During the workshop, students participated in a
financial planning activity, starting with occupation cards outlining their
income and expenses. Before the game, they made initial cost-related
decisions, setting the stage for real-world financial scenarios, including
natural disasters, inflation, income changes, and illnesses. The interactive
game engaged students, encouraging critical thinking and adaptability
through unexpected challenges. Many found the unpredictability exciting and
enjoyed developing creative strategies in response to the dynamic
situations. The game emphasised budgeting, the value of savings for
unexpected expenses, and the role of insurance in managing financial risks.
It underscored the importance of planning for short- and long-term financial
goals, enhancing participants’ understanding of money management.
The session aimed to give students a realistic
financial planning experience, teaching them to balance income and expenses
while adapting to unexpected situations. It highlighted the importance of
careful planning and provided practical skills for real-life application.
The collaboration between TDET Homeschooling Centre
and UTAR reflects a shared commitment to fostering financial literacy among
younger generations.
Mr Low conducting the Cash Flow Game
Participants during the game
Group photo with participants
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