FINANCIAL LITERACY FOR

SECONDARY SCHOOL STUDENTS

What is Financial Literacy ?
Financial literacy is ability of an individual to make informed judgments and to take effective decisions regarding the use and
management of money. Financial education can be obtained only through a systematic and continuous approach. It is the ability to
grow, monitor, and effectively use financial resources to enhance the well-being and economic security.

33% 27%
of adults worldwide are of adults in India as
financially literate compared globally

55-75
45-54
35-44
35% Men
VS 30%Women
25-34
0-24
No data Financial literacy of women is lower than men

According to Organisation for Economic Co-operation and Development

financial literacy has three main components
Knowledge Behavior Attitude

Importance of Financial Literacy for students

-Helps in understanding basics of financing -Helps in supporting family from a early age
-Helps them in creating an educational plan -Helps in understanding the concept of budgeting
-Prevents in taking too much debt too early -Understand financial products and market better

Around 13 Crore students CBSE provides students several streams to choose from like
Science Commerce Humanities Vocational
51.3% 16.2% 32.5%
But non of the subjects teaches even the basics of how to deal
Primary school Secondary school with money, how it works and anything related to personal
students students finacial management.

Primary stakeholders mapping Outcomes of primary research

Government
-Getting aware slowly
-Not understanding importance
-Creating basic policies
-Lack execution
Teachers
-Do not focus on practical
learning of students
-Lack knowledge themselves
-Often provide unreliable
information and advices
Students
-Need awareness
-Adaptive to change
-Dependent on parents
-Need to fall in system Students are interesting in Financial literacy is lower
learning about investing, in science, humanites & other
Parents stocks, banking activites students than commerce
-Not all aware
-Lack in guiding child
-Too much involved in
decision making of child Students lack practical Students are dependent
-Still follows conventional learning and personal on parents for guidance
ways of teaching financial management and advice

Government’s recent strategy to improve financial literacy

NSFE (2020-2025)
5 C approch Key focus towards students
-Include financial education into school curriculum
Content Capacity Community -Focus towards providing process education
-To improve financial behavior of students
Communication Collabration -Introduce target specific models

How might we :
Increase Understand Provide
Awareness Importance Knowledge

Department of Industrial Design

M.Des Industrial Design
Batch 2021-2013
Semester 4
Graduation Project

Mentor- Shyambihari Prajapati Rajshree Rathore