TAR UMT Students Learn about Financial Literacy

Date: 5 December 2023

Time: 3 p.m. to 7 p.m. 

Venue: TAR UMT Penang Branch

To enhance the financial literacy of young individuals, the Accounting and Finance Society of TAR UMT Penang Branch collaborated with Ultimate Solutions Consultancy (USC) to organise a Cash Flow Games event on December 5, 2023.

The event served as a valuable platform for young participants to bolster their financial literacy and investment skills. Through engaging in Cashflow board games, participants had the opportunity to grasp the fundamentals of investing within realistic scenarios. This hands-on experience proved beneficial, allowing them to test their financial knowledge and learn from mistakes, all without the risk of losing their actual funds. Consequently, participants gained insights into critical thinking, problem-solving, and risk management—skills essential for navigating the complexities of society.

The pinnacle of the event was the spirited competition among 8 teams vying for the titles of Best Player and Best Team. The criteria for Best Player were based on the player who swiftly exited the Rat Race and successfully achieved their dream or accumulated $50,000 in new business. Best Team honours were determined by a collaborative effort, with teams earning 40 points for each player successfully escaping the Rat Race.

Emerging victorious in the Best Team category was Group E, showcasing their collective prowess. Additionally, Tan Chun Keat from Group A clinched the Best Player award for being the fastest player to exit the Rat Race.

This event not only fostered financial awareness among the youth but also underscored the importance of teamwork and strategic thinking in the realm of financial management.