Inflation is at an all time high,at 8.1%. Knowing what this means is essential for a student of high school. Being taught about the services a bank has to offer is not enough. Almost every student today is not only aware but also operates his own bank account as most schools have an extension counter on their premises. Pocket money has to be managed judiciously. Money management is extremely important.
Mathematics is essential for every student,atleast till the 10th standard. I often give examples for my students to understand why they need to learn all about numbers. Some students are averse to numbers and therefore dread maths. And I find that in today's scenario, choices are many, regarding financial products,loans,investment and insurance products. Banking sector has improved greatly with competition from foreign players.
Speaking to a software manager of a prestigious IT company,who has more than 70 software engineers under her, I understood that very few of them,actually sought any financial advisers to help in their financial planning. Most were only spending on luxuries and latest gadgets. Salaries today are good, but one must learn how to manage their finances, and stay on top-inflation or otherwise. Students are only taught academics, but if they are also taught to be wise with money that they will earn in future, it is real education.
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