Financial literacy is a crucial life skill that equips individuals with the knowledge and understanding needed to make informed financial decisions. In this pursuit of fostering financial literacy among the youth, a session was conducted at Patan Secondary School, Patandhoka Lalitpur. The session aimed to enlighten students about various financial concepts, including budgeting, saving, distinguishing needs from wants, understanding insurance, and the importance of investment.
A total of 118 students actively participated in the session. Among these, 34 students were from Grade VII, 37 from Grade VIII, and 47 from Grade IX. The diverse age groups provided an excellent opportunity to cater to various levels of financial understanding and curiosity.
The session commenced with an engaging video presentation that shed light on the significance of saving money. Students were introduced to the concepts of the power of compounding and the critical need to distinguish between needs and wants. The video was not only informative but also served as a catalyst for a lively discussion that followed.
The open discussion and Q&A session proved to be an excellent platform for students to clarify their doubts and share their thoughts on financial literacy. The top 5 students who were particularly active and enthusiastic during this session were rewarded with piggy banks, symbolizing encouragement to start saving money for their future. This simple yet effective gesture conveyed the message that small savings can lead to substantial financial growth over time.
Understanding the importance of budgeting can help students manage their finances effectively, while knowing how to save for the future is a skill that can have a lasting impact on their financial well-being. Distinguishing between needs and wants is a crucial aspect of making responsible spending decisions, and students learned the significance of insurance as a safeguard against unexpected financial burdens. Lastly, the concept of investment was introduced, highlighting the potential for wealth creation over time.
In conclusion, the financial literacy session at Patan Secondary School was a resounding success. It provided students with valuable insights into the world of finance and encouraged them to start their journey toward financial responsibility. The gesture of gifting piggy banks to the most interactive students not only motivated them to save but also served as a symbol of encouragement for the entire student body. We must continue to promote financial literacy among our youth, empowering them to make informed and responsible financial decisions in the future. This session was just one step, but it was an essential one in that direction.