Deep Dive: Financial Literacy Module for School Kids.
This is the second article in our series on the significance of financial literacy among school children. In the first article, we explored the importance of financial literacy and its inclusion in the high school curriculum of Delhi’s ASOSE schools.
The Financial Literacy module is designed to be more than just another subject—it's a toolkit for life. As students approach adulthood, managing money effectively becomes one of the most important skills they'll need. This module breaks down the essentials of financial management in a way that’s practical, relatable, and meant to help them feel confident about their future financial choices. Every chapter aims to empower students to make informed decisions, from their first salary to long-term goals like investing and retirement. One of our intentions was also that even as students, this module should help them participate more meaningfully in the family financial decision-making and even educate their parents on some topics!
?Session 1: Introduction to Financial Literacy
We kick things off by unpacking what financial literacy really means and why it matters. It’s not just about money—it's about making smart decisions with it. In this session, students examine their personal views on money and challenge some common misconceptions (“investment is for older people” and “careful of putting money in a bank account, the government will deduct money against your wishes”). We revisit the idea of ‘needs’ and ‘wants’ where we are often tempted into spending on non-essentials to our long-term detriment. We talk about budgeting to manage ongoing expenses. This chapter lays the foundation for a lifetime of financial stability, making money management less intimidating and more accessible.
?Session 2: Foundations of Financial Management
In this chapter, we get into the mechanics of how money works—think of it as financial physics! We introduce some key ideas and concepts underlying money. How does inflation impact savings? A big idea is about interest and the power of compounding, which explain why saving from early in your career makes such a big difference. We go back to budgeting cover the basics of creating a budget and show how to balance expenses against their income. Plus, we explore the world of banking—from savings accounts to loans—so they are better informed when it's time to open their own accounts or make their first big financial decisions. This knowledge is essential for building strong money habits from day one.
?Session 3: Investments, Insurance, and Pensions
This is where students start thinking ahead. In this session, they learn about different investment options—stocks, mutual funds, fixed deposits. The key principle here is risk vs. reward and how each instrument has its own risk vs. reward profile. But it’s not all about growing money; it’s also about protecting it. We introduce them to the concept of insurance and why it’s crucial to safeguard their health, property, and life. The chapter also touches on pension planning, helping students understand how the choices they make today can affect their future financial security. This session is all about learning to build wealth while preparing for the unexpected.?
?Session 4: Remuneration and Taxation
This chapter breaks down the details of getting paid—what’s included in a salary, how bonuses work, and the all-important tax deductions. Students learn how to read a pay slip and calculate their take-home salary after taxes. This knowledge will be indispensable as they transition into the workforce, equipping them to manage their income, budget for goals, and avoid any tax-related/deduction issues.
?Session 5: Fraud Protection and Technology in Money
In today’s digital world, knowing how to protect yourself is a must. This chapter helps students identify financial frauds, from Pyramid schemes to phishing scams, and how to avoid falling victim to them. We’ll also explore the digital side of money—online banking, digital payments, mobile wallets—and discuss the importance of cybersecurity. As technology continues to evolve, so do the risks, so this session ensures students are well-equipped to navigate the digital financial landscape safely and with confidence.
Every chapter of this module builds on the last, guiding students step-by-step through the essentials of financial literacy. Whether it’s learning to budget their first paycheck, investing in their future, or navigating the world of taxes and fraud protection, the lessons here are designed to help them handle the financial challenges of adult life with confidence and clarity. The knowledge gained will not only help them avoid financial pitfalls but also set them up for long-term success, independence, and financial stability.
Stay tuned for our third and final article, where we’ll dive into the practical assessments for this module!