Jim Kane
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ST School Pocket Money Fund supports 10,000 students from low income families yearly.
- How to Apply
The Straits Times School Pocket Money Fund partners the...
- Donate
One-Time Donation. Donation via credit card, DBS Internet...
- Contact
The Straits Times School Pocket Money Fund. 1000 Toa Payoh...
- Primary & Secondary Students
Applicants have to meet a fixed set of criteria in order to...
- Volunteer
Since the project started in October 2000, over 128,000...
- Planned Giving
The Straits Times School Pocket Money Fund: UEN No:...
- Board of Trustees
The Straits Times School Pocket Money Fund is a Trust...
- Fundraise
The Straits Times School Pocket Money Fund (STSPMF) rallies...
- How to Apply
- 3 Important Factors For Consideration
- Teaching Financial Literacy Through Allowance
- Estimated Cost of Living at Each Stage
- Conclusion
1. What is the pocket money for?
Before deciding on the amount, it is important to consider what the pocket money will be used for. Some parents assign the allowance purely for the child’s food expenses and their other wants and needs. Others give their child more responsibilities by getting them to use their allowance for their food, transport expenses, school supplies etc. It doesn’t have to be an all or nothing approach. For a start, it might be good just to help your child with purely controlling their expenses for food,...
2. What is the estimated cost of living at their different stages in life?
Being able to answer this question will require you to do some research. This estimated cost of living is focused purely on their expenses surrounding their schooling life. It will be good to take a trip down to their school canteen with them, and have a quick look at the average meal prices. This can vary greatly from school to school. Secondly, it is also important to consider the amount of time they will spend in school. If they have to stay back for CCA or after-school activities, you wil...
3. How will they travel to and from school?
Last but not least, travelling to and from school can also be a costly affair. If you would like them to learn to travel independently, it is important to research how much it will cost (even with the subsidy), and decide if you would like them to top up their EZ-Link cards on their own, or if it would be “GIRO-ed” into their account.
The weekly or monthly pocket allowance is a great tool to teach financial literacy to your children. To do it successfully, you will need to have a good balance between catering just enough for what they need, and leaving a little bit more to allow them to build up their own savings to purchase things they want. As parents, this means also having c...
With all that made clear, here’s the estimated cost of living at their different stages of life. These are estimates, and while they can give you a good ballpark figure, it would be best to look at your own child’s needs and to plan from there. In the figures below, monthly transport allowance is not included – from primary school to university yea...
It is good to start researching, and also to decide with your spouse what sort of values you would like to teach your children about money, and the importance of saving. Having a good plan can be a determining factor about how well your child is able to manage money responsibly, and set them up for life as they learn to budget for more needs as the...
The Straits Times School Pocket Money Fund partners the Ministry of Education (MOE) in disbursing school pocket money to students from low-income families. Students who meet the criteria will be able to apply for the fund through their respective participating mainstream schools.
Jan 15, 2024 · There are lots of things to consider (and no perfect formula) when it comes to pocket money. But if it means you can integrate financial skills into everyday life, it’s a fantastic investment...
The Straits Times School Pocket Money Fund (SPMF) started in 2000 as a community project initiated by The Straits Times to provide pocket money to children from low-income families to help them through school.
Giving pocket money to children as young as 4 or 5 years helps them start learning about the value of money and money management. For example, when children get pocket money, they have to make choices about spending or saving.
Oct 7, 2023 · SINGAPORE – More families will be able to apply for The Straits Times School Pocket Money Fund (STSPMF) from 2024 when the gross monthly per capita household income eligibility criterion is...
