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Instructor: Team Uplift
"Financial Education for School Children" aims to provide the financial education for school children. It encourages them to develop knowledge and skills related to financial matters from a young age. It includes various learning sessions and activities designed to enhance their understanding of concepts like net worth, assets, liabilities, budgeting, and investment.
The importance of planning and setting SMART goals is emphasized in another session. Students are encouraged to think about their goals, whether it's buying a cricket bat, going on a picnic, purchasing a cycle, or getting admission to a specific college. It also highlights the significance of having a well-defined plan to achieve these goals and distinguishes between SMART goals (specific, measurable, achievable, relevant, and time-bound) and vague goals. By setting SMART goals, students can increase their chances of success and develop valuable planning skills.
It also covers topics such as prioritizing needs, budgeting, and understanding the concepts of cash flow, surplus, deficit, and opportunity cost. Students are presented with practical scenarios where they have to analyze and prioritize family demands based on their importance and urgency. By learning to budget effectively, they can optimize savings, allocate funds to various areas of expenditure, and make informed decisions about their financial choices.
In the context of investments, it introduces the three pillars of investment: safety, liquidity, and growth. It explains the concept of interest and how it contributes to the growth of investments. The importance of distinguishing between a piggy bank and a real bank is highlighted, emphasizing the benefits of depositing money in a bank for safety, liquidity, and potential growth. It encourages students to explore different avenues of investment, broadening their understanding of financial instruments and opportunities.
"Financial Education for School Children" serves as a valuable resource for students to develop financial literacy, understand essential concepts, and acquire practical skills for managing their finances effectively. It empowers them to make informed decisions, set financial goals, and lay a strong foundation for their future financial well-being.
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Interact and network with like-minded folks from various backgrounds in exclusive chat groups.
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With the quizzes and live tests practice what you learned, and track your class performance.
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