Why is financial education important? To answer this question you must know, what is financial education? Financial education is the ability to understand how money works. It is the art of investing and managing money and the ability to make sound financial decisions. Crores of Indians cannot make sound financial decisions and the consequences are terrible to imagine
People make the wrong financial decisions losing money saved for years. Loans are availed without understanding interest payments and the consequences of a default. No financial education = No money for retirement. Lack of financial education is a heavy burden on the Nation, as expenses on financial security rise .
Financial education can be a stepping stone to complete financial Freedom .
How Financial literacy can work for companies,institutes
Every person working with you , Your Firm has need to earn money for one or the other prupose in his life . If they learn to manage money well then it will help them plan their monthly budgets , Loans and savings . Not only this it can guide them of choosing Right investment options to grow their money well and better. As a employer or owner of the business it's Good that you have manpower who have peaceful minds since they understand finance better. It will result in better productivity and performance for your firm. one more important thing is that , it can help you to retain talented people in your organisation at best Cost to your Company .