FINANCIAL LITERACY FOR YOUTH

A person’s ability to fulfil fundamental requirements, ensure their safety and security, pay better attention to their wants for love and belonging, and fully realise their extreme demands depends on their ability to manage their finances. As far as my perspective is concerned, I have always believed that managing one’s funds is a need for everyone.

Since I come from a business background, I should point out that I am aware of the different financial factors that might influence a choice regarding day-to-day company operations. But why are we talking about it, and why am I utilising money as a backdrop or a support system for any stage of the human life cycle? Most individuals choose finance as a course topic in their post-graduate programs or learn about it after graduation. Some programs teach accounting but not finance. And I believe everyone knows the distinction between finance and accounting. My goal here is to promote the teaching of finance in the early grades of the educational system. According to a person’s viewpoint on learning, class 10 is the optimal stage. Because class 10 in Indian education includes a fundamental introduction to the disciplines, pupils should be given a fundamental grasp of money. This may include topics like fund management, stock management, and other aspects of financial management that students can learn through simple examples of their savings and pocket money. As a result, I believe I have succeeded in conveying that early financial education is important since it forms the basis of the human life cycle.

Young children won’t absorb significant lessons, in my experience, unless you explicitly explain why they’re important. This is unique in the case of money, which they should be aware of from an early age. It has been observed that the world is changing quickly, and our courses need to include a variety of financial literacy-related topics. I want to provide the example of a pupil from my dear friend’s class in the eleventh grade. He finds it very difficult to budget the pocket money his parents provide him, and he often makes unnecessary purchases at the start of each month. Even though I stayed in the family company, this is everyone’s tale, including mine. 

Poor financial management and money management skills in this condition influence the early years of our lives. It has been noted that financially educated people are better equipped to handle the money they have on hand and find it helpful in trying times. The introduction of financial literacy in class 10 will aid the students in bettering their comprehension and expanding their options to select accounting or finance as a profession in subsequent semesters. Edwin increased the proportion of financially literate people. He strengthened India’s financial system, enabling the government to swiftly implement policy changes without incurring significant costs for publicity promoting its advantages and education.

-Aishwariya Joshi

(PGSM2206)

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