Financial Literacy For School

Financial Literacy For School

By Definition is financial literacy is “the ability to use knowledge and skills to make effective and informed money management decisions.” Spreading the concept of financial literacy and creating financial awareness among children is important in many ways, reasons

  1. This concept helps them to maintain a discipline of saving
  2. Helps them learn about investments and different instruments used for investments.
  3. If the students understand the basics of finance starting from their school age, they can make the right decision at the right time.
  4. Financial literacy can enable an individual to build up a budgetary guide to distinguish what he buys, what he spends, and what he owes.

 

So, financial literacy is the confident understanding of concepts such as saving expenses, investing, and debt that leads to an overall sense of financial well-being

Program Chart:
For Grades 7-10th

PROGRAM
 
Basic
 
Standard
 
Advanced
 
15 Classes
 
30 Classes
 
50 Classes
 
 Live Class
 
Yes
 
Yes
 
Yes
 
Batch Strength
 
25
 
25
 
25
 
Certificate
 
YES
 
YES
 
YES
 
Assignments
 
YES
 
YES
 
YES
 
Duration
 
1 hr
 
1hr
 
1 hr
 
Practical Projects
 
YES
 
YES
 
YES

Benefits of the Course

  1. Students would be able to understand the importance of saving money right from an early age
  2. Students will gain a basic understanding of financial policies, banking systems, budgets and day-to-day expenses, which will be very useful in the future
  3. Students will be able to gain basic knowledge on the tax systems operating in India.
  4. Get an understanding about Digital money and modern money systems
  5. Sensitise students to form better judgments about their expenditures

Course Structure for Grade 7th -10th

1. Basics of Money Management

  • Opening of a bank account
  • Book keeping
  • Cash, cheques and debit cards/credit cards
  • Opening a credit card account
  • Online payment services
  • Establishing payment terms
  • Fixed deposit

2. Basics of Banking and Insurance

  • Types of banks in India
  • Commercial banks in India
  • Functions of commercial banks
  • E- banking & Forms of e- banking
  • Types of bank accounts and their features
  • Other services provided by banks
  • Risk pooling – Insurance
  • Asymmetric information – Insurance
  • Types of risk in Insurance
  • Types of insurance

3. Understanding Investment and Various Tools

  • Meaning of Investment
  • Stocks
  • Bonds
  • Mutual funds
  • Index funds
  • Exchange traded funds (ETF’s)
  • Futures and options trading

4. Investing Instruments and Virtual Simulators

  • What are investing instruments
  • Virtual simulators and its benefits

Course Structure for Grade 7th -10th

  1. Content and learning outcomes are prepared to suit all students across different boards
  2. Labs are designed so as to give a real time practical exposure
  3. Course delivery centred around case studies done by professionals from  all over the country  with rich industry experience Assessments to improve learning outcomes
  4. Smaller batch size to improve the quality of Learning
  5. Access to knowledge-based webinars conducted by Finkomm on Money Matters
  6. Access to the Soft Skill program at Finkomm
  7. Access to Basic Psychometric Test/Mapping Skills and Career counselling sessions
  8. Opportunity to NETWORK with other student and finance professionals.

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