National Development Minister Khaw Boon Wan encourages Singaporeans to save more given current economic uncertainties. He likens saving to a soccer player focusing on scoring goals, with savers focusing their efforts and time on saving for short-term needs and wants as well as long-term goals. Short-term goals are inexpensive items that can be saved up for within days or weeks, while long-term goals are more costly and require much longer saving periods.

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4. Newspaper Extract:
With greater economic
uncertainties today, National
Development Minister, Mr Khaw
Boon Wan, encourages more
Singaporeans to save in case the
going gets tough in future.© 2012 Citi-NIE Financial Literacy Hub for
Teachers, All Rights Reserved

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10. Just like how a soccer striker
focuses on scoring the ball into
the goal, a saver will focus his
energy and time on saving for
what he needs/ want (his goal).
Short-
term
Goals
Goals
Long-
term
Goals
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Teachers, All Rights Reserved

11. Short-
term
Goals
Goals
Long-
term
Goals
Short-term or Long-term
goal?
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12. • Things that do not
cost much
(compared to the money that
you get)
• Take a few days or a
few weeks to save up
for.
Short-term Goals
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13. • Things that cost much
more
(compared to the money that
you get)
• Take a much longer
time to save up for
Long-term Goals
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