Every great journey starts with a first step

Importance of Knowledge

Money matters to all of us, but not many of us get to learn about it early enough. The fact is the more knowledgeable you become, the more likely you are to reach success. Studies have shown that people who have financial knowledge are better off because they can:

  • Accumulate 3 times more wealth through retirement planning in advance. [1]
  • Minimize mistakes in money management and investment through financial knowledge. [2]
  • Organize financial plans according to life and business goals

3 Essential Elements

There is a 3 - legged stool theory according to behavioural economists [3] [4]
needed to strengthen financial competency: Three elements –  “knowledge, numbers, and action”.

Just as a stool is useless without all three legs, with just one or two elements,
it is difficult to expect the most out of your financial success.


Remembering and understanding financial concepts
and jargons for long-term success
Being able to make make sound financial decisions
by applying simple math
Behavioural facilitation
Getting people to act on their intentions (e.g. open bank accounts, set up investments, make a budget and follow)

Nothing Happens Without Taking Action

Having knowledge is one thing, putting it into action is another.
We all know how hard it is to get started and keep it going.
Money Sherpa aims to develop more features that connect financial education
with behavioral changes.

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