Class 12 D spoke about something very personal and near and dear to us… Money! A shockingly large amount of the Indian adult population, 

63% are not financially aware, sadly that means that most of the adults we know, our parents and teachers are financially unaware and the number of financially illiteracy is surprisingly even higher among students, around 83% That is bad news!

Financial literacy is the ability to understand and effectively use various financial skills, including budgeting, investing, managing debt, and saving. It enables individuals to make informed, confident decisions about their money, leading to long-term financial stability and security. 

They mentioned that having financial literacy can put you 53% higher than the average net worth! 

Data shows that 58% of money earned in Indian households is idle money, that means it stays stagnant and can lose its value at any point of time. Over 80% of Indian households cannot manage a financial emergency for over 3 months. 90% of Indian startups fail because of poor financial planning. All of these problems can be solved with one solution and that is, financial literacy

Students suggested that you can start simple, saving your pocket money if you have it can be a great start. 

Financial literacy is not just about growing your money. It's about also knowing how to spend it wisely. Think twice before buying anything. Ask yourself, do I need this? Research shows that around 50% of purchases online are impulse purchases, that means they weren't what the buyer needed and wanted. That's half of what you buy!

“Time is money”, quite literally! You see compounding is something we as students can use with extreme power! Think about it… you get some pocket money you can do 3 things, you can save it… now that's will power, or you could spend it on snacks or if you were smart and financially literate you would invest it. You can start simple.

Start by investing in index funds and fixed deposits if you do not wish to take risk with the help of an adult to manage your money effectively. Some index funds offer enough returns to help you retire early if you start investing early. You can also invest in SIP (Systematic Investment Plans) as a higher risk option after consulting a suitable adult who can monitor your finances. Understand that once you go on to live in the real world you will face financial challenges and this is a stepping stone towards managing your money.