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In October 2003, the Singapore Government launched a national financial education programme called MoneySENSE. MoneySENSE brings together industry and public sector initiatives in financial education to enhance the basic financial literacy of consumers. MoneySENSE is a collaboration among various government agencies - the Monetary Authority of Singapore (MAS), Ministry of Community Development, Youth and Sports (MCYS), Ministry of Education (MOE), Ministry of Manpower (MOM), Central Provident Fund Board (CPF Board) and People's Association (PA) - and other private sector bodies and community organisations.

In conjunction with the Family Festival 2004, MoneySENSE has worked with the Insurance and Financial Practitioner Association of Singapore (IFPAS) and the Life Insurance Association, Singapore (LIA) to jointly launch this financial planning guide, "Planning For Your Family's Financial Future" Through the daily exploits of the Lim Family, this guide explain the key concepts of financial planning. It also provides practical tips on how a family can draw up a financial plan, develop a family budget, ensure sufficient coverage for their medical and insurance needs, and consider plans to build up a retirement nest-egg.

The information in this guide is of a general nature and may not apply to every situation or to your own personal circumstances. For more tips and educational resources on personal financial matters, visit the MoneySENSE website at www.moneysense.gov.sg.

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