Divya Jain, Founder and Director, TCO1

Divya Jain, a commerce graduate from the Delhi University is presently running two schools in Noida successfully. She is full of ideologies, enthusiasm, indepth knowledge and intellect. A woman of few words who lets her work ethics and professional discipline speak on her behalf. She is well known for her integrity, humility and matured sense of discretion coupled with strokes of motivation and confidence. She is assiduous in whatever she does and her commitment to good governance, people management was honoured with “Design Thinking Leaders Award” by Education World Grand Jury.


Financial Education is one of the most fundamental and underrated aspects of an empowering career and holistic personality growth. It refers to a set of skills mastered by a person with adequate knowledge of various elements of finances, such as personal financial management, budgeting, and investing.

The application of financial education is equally important. Monetary wealth and resources cannot be efficiently managed in the absence of financial literacy. That is why it is essential for students to have a resourceful knowledge in finance academics so that it can be practically implemented while managing finances and regulating cash flows. The mention of financial academics in no way means to go through the litany of economics concepts and esoteric finance-specific studies. It denotes gauging an overview of mathematical metrics and financial prudence, which enables a person to manage their finances in an efficacious manner. As a result, frugal investments replace slipshod money management.

Although, the rate of financial literacy in India is a matter of concern. As per the SEBI report, only 27% of Indians are financially literate. It was a disquieting revelation and showed the need to reprogram policies and emphasise financial education among students, especially in Tier 1 and Tier 2 cities. Financially literate individuals prove to be sound decision-makers. They possess rational cogitative abilities and are independent thinkers. There are fewer chances for them to be susceptible to financial fraud, and they do not even need to rely on other sources or think tanks to taking decisions. 

A recent policy decision has thrown light on the institutional proactiveness of responding to the changing scenarios. The Central Board of Secondary Education (CBSE) has introduced a short-duration module related to Financial Literacy for classes VI, VII and VIII.  It has also outlined a sensitisation programme on Financial Literacy for all the teachers. The decision comes off a fresh change to tackle the facile state of financial literacy in the Indian education spectrum.

Another reason why students should be financially literate is because of the expansion of the market hegemony and the availability of a range of options. Students are young, docile and have impressionable minds, so it is easy for them to buy things they do not need and can waste their money on multiple channels of engagement. It can lead to shambolic money management and gross dissipation of financial resources.

The need for financial education is more prominent after the Covid-19 pandemic. The economic conditions of several families were in the doldrums. Many youngsters were jobless without sufficient savings. Clearly, there was a stark lack of financial planning observed among Indians. It highlights the urgency to plan out and initiate proper financial literacy subjects and programmes.

Students can turn out to be better and more efficient financial managers and allocate assets in a self-aware way. Financial Awareness is an end product of financial education. If students are well-educated in the realm of monetary finances and resource management, they are better able to assess investment worths, deals, and products and discern which ones are valuable and which ones are not. It is also helpful for them on a day-to-day basis as they will carefully manage their finances, make an expenditure list, and saving planner, and execute things in an organised and well-planned manner.

Financial education should not be an optional study paper, but compulsory rigorous learning for students to be financially sagacious and compatible and use cash and money outflows astutely.

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