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Awareness and impact of financial literacy among secondary School students

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Author Affiliations

  • 1Podar International School (Cambridge International), Kalyan, India
  • 2Gurukrupa College of Education & Research, Kalyan, India

Res. J.Educational Sci., Volume 10, Issue (1), Pages 1-5, August,1 (2022)

Abstract

Sustainable Educational Practices involves developing life-skills including leadership, communication, collaboration, cooperation and management; all of which are extremely important for personal development of students. Financial literacy involves an individual’s ability to interpret and understand basic financial concepts and apply that knowledge to make informed decisions related to finance in their day to day activities as also applicable as lifelong learners. There are many benefits to being financially literate which definitely brings more development, innovation through use of more technologies and more economic and social prosperity. The key role students would be playing at saving, managing pocket money, understanding the power of compounding, retirement planning, accumulating wealth, and avoiding debt. Financially literate students are able to understand better, macroeconomic problems and make informed decisions related to fiscal and monetary policies, scope and limitations of new start-ups and how to take calculated risks. Hence based on the research, we would like to bring the awareness and impact of financial literacy to secondary school students (age 12+) which was not included in any of the Education Policy nor NEP 2020.

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