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In today’s rapidly changing world, an area that is included in India’s educational system is financial education.
Here are the major factors that can help increase financial literacy among students:
Recognizing financial literacy difference
Today, young adults have a shortage of one of the most pressured challenges financial literacy.
Despite strong academic performance in traditional subjects, many students are ill to handle personal finance.
According to the National Center for Financial Education, only 27% of Indian adults are economically literate. Globally, an OECD report shows that less than a quarter of young adults feel confident in their financial understanding.
“Financial literacy is not only about numbers; Ajay Lakhotia, the founder and CEO of Stockgro, says, “It is about understanding, understanding, saving and understanding your money.
He said, “schools and colleges should bridge this gap by including financial education in their course in the first phase, students should help create confidence and skills to navigate their financial futures,” he said.
Include practical, experienced learning
Traditional methods of teaching financial concepts often decrease. Lakhotia advocates a more interactive approach to financial education.
“Instead of textbooks only, students need to join with practical equipment such as budget applications, investment simulators and industry experts,” they explain.
Experienced learning allows students to see theory in action, which provides budget, savings, investment and more tangible financial concepts.
Studies show that students only maintain 75% knowledge when they learn through practical experience, compared to only 5–10% through passive reading.
Role of schools and colleges in financial education
Educational institutions play an important role in shaping the financial future of students.
According to Lakhotia, it is important to identify for schools and colleges that financial literacy is not just an alternative skill – it is necessary for the personal growth and success of students.
By incorporating financial education in existing subjects, such as economics or mathematics, school can provide a comprehensive approach to how financial concepts apply in real life.
In addition, schools should organize interactive workshops and seminars with financial experts, which helps students gain a deep understanding of practical aspects of personal finance.
This may include topics like investment plan, debt management and financial target-defense.
Empowerment of individuals without formal finance background
For those without formal finance background, Lakhotia recommends starting with simple, accessible resources.
“The key is to start small and to create your knowledge slowly,” they say. “Look for online courses that break the basics of money management. Apps to track daily expenses can help you understand your expenses, and establish a simple budget can be a great first step. ,
Over time, individuals can refine their budget, experiment with savings, and detect investment opportunities for a safe financial future building.
Lakhotia also suggests learning from reliable financial experts. “Follow SEBI-Planned Advisers and see how they adjust their portfolio in response to market changes. This will give you an insight into informed making decisions and creating financial beliefs. ,
(Tagstotransite) National Education Day (T) Financial Education (T) Financial Education Bharat (T) Education System (T) Financial Awareness
