India’s leading maths learning app Countingwell has today launched a new course on Financial Literacy for school students of classes 6th to 8th. The course will impart learning of important financial concepts linked with Maths that the students can apply to learn about managing personal finance and money.
Countingwell’s Financial Literacy course will introduce students to real-life scenarios and situations where they make decisions about money and personal finances using maths concepts. In addition, the course will help students understand how easily all the maths they learn in the classroom, with formulas for interest and ratios and profit and loss, are applied to real life.
The course will cover ideas around budgeting, saving and investing, EMI purchases, cost of ownership of assets, the difference between money and weatlh, among others. Children will also encounter situations around dealing with online fraud, optimzing spending, dealing with credit card spends and interest, etc.
The course is currently available to a select set of internal users and will be available to the general public on the Countingwell Mobile App later this month.
Nirmal Shah, cofounder of Countingwell said, “The course emphasizes the fact that becoming financially literate starts at a young age, and more importantly, financial literacy is not just about learning formulae of interest, or profit and loss, but also about making smart financial decisions. This course aims to make the learning process more easy and fun and will make students understand that maths is more than just a subject, that it also has important life skills that a person needs in their day-to-day life.”
In a recent survey on Financial Literacy among school going students conducted by Countingwell, nearly 50% of middle school students were found to lack basic financial literacy knowledge. Further, 88% students showed interest in learning more about financial literacy.
“While many of these concepts are usually taught in the school, the children are taught to apply them to contrived and complex situations. That’s not what they would encounter in real life. Our goal is to help make kids aware of financial choices and decisions, and their consequences from an early age. We hope that, by doing so, they will not just be financially “literate” but also smart with handling their money.We want the kids in their tweens and early teens to learn things about money that started learning only in our late 20s.” Mr Shah added.