This ten-module live-class series will cover the fundamentals of financial literacy, including the value of money, generating income, spending money, developing a personal budget, understanding banking and insurance, making sound investments, and understanding taxation concepts.
Students will learn how to use basic financial ideas in their everyday lives.
Certificate Programme in Everyday Finance - Weekend Classes
- Language : English
- Eligibility : Classes 7 onwards
- No of sessions : 40
- Duration : 1 hour per session
- Credits : 40
- Certification : Yes
This course is designed for beginners and anyone who wants to understand the fundamentals of financial literacy. This training requires nothing more than a desire to learn and an open mind. So this course is best suited for
- Students who wish to learn about basic money management
- Students who want a simple and straightforward way to begin managing their finances more effectively
- Parents who wish to teach their kids about money
- Students who are learning about money for the first time
Students can build a strong foundation and healthy money habits by understanding financial literacy and fundamental financial principles. To be wealthy, one must make sound financial decisions. Being financially literate is the first step.
The course is divided into ten modules with each module ranging from 2 to 4 hours. Each class will be of 1 hour duration. You will be assigned worksheets/projects which you are expected to complete and submit within the deadlines. You need to clear the Module-end test to proceed to the next module.
Depending on the batch that a student enrols, they need to devote 3-5 hours per week.
Students will receive a completion certificate and those maintaining high scores in each module will be eligible for merit certificate. Optionally, students can also appear for the NFLAT and get a certification from NCFE. We will provide requisite support to appear for the NFLAT exam. Student’s earn 40 credits for completing this course which can used towards earning Future CEO qualification.
Module 1: Money Matters
- Why do we need money?
- Types and functions of money
- Security features of our bank notes
- Needs and Wants
- Income, expenditure, and budgeting
- Assets, liabilities, and Net worth
- Simple and Compound Interest
- Inflation, GDP, Time Value of Money
- Nominal and Real rate of Return
- Saving and Investment
- Rule of 72, 114 and 144
- Setting up a SMART Goal
- How does the fluctuation in market price affect my savings?
Module 2: Banking – Deposits, Credit and Payments
- Functions of a Bank
- Current and Savings Accounts
- Term and Recurring Deposits
- Loans and Collateral
- Debit and Credit cards
- Is credit card boon or bane?
- Fixed and Floating Rate Loans
- Equated Monthly Installments
- Small Savings Products
- Importance of Credit Score
- Payment and Settlement Systems
- Banking alternatives
- Foreign Exchange and Conversion rates
Module 3: Insurance – Risk and Reward
- Concept of Insurance
- Fundamental Principles of Insurance
- Risk Premium and Sum Assured
- Insurance Products and Services
- Identifying Risk
- Pure and Financial Risk
- Risk Appetite
- Avoid, Ignore or Manage Risk
- Balancing Risk and Reward
- Behavioural Biases
- Preparing for Medical Emergencies
Module 4: Investment – Stocks, Bonds and Mutual Funds
- Investment Fundamentals
- Understanding Investment Returns
- Diversify to Manage Risk
- Long Term and Short Term Goals
- Demat and Trading Account
- Role of a Stock Exchange
- IPO, Primary and Secondary Market
- Investing in Stocks and Bonds
- Mutual Fund Basics
- Systematic Investment Plan
- Investing in Metals and Commodity Markets
Module 5: Pension – Retirement Planning
- Life Stages and Financial Goals
- Securing your Financial Future and Retiring early
- No loan for Retirement Goal
- Defined Benefit and Contribution
- Contribute to your Provident Fund
- National Pension System
- Accumulation and Distribution Phase
- Impact of Inflation
- Price of Procrastination
- Reverse Mortgage Loan
- Elderly Fraud and Financial Abuse
Module 6: Financial Inclusion
- Pradhan Mantri Jan Dhan Yojana
- Pradhan Mantri Suraksha Bima Yojana
- Pradhan Mantri Jeevan Jyoti Bima Yojana
- Atal Pension Yojana
- Sukanya Samriddhi Yojana
- Pradhan Mantri Vaya Vandana Yojana
- MUDRA Loans
- Educational Scholarships
Module 7: Tax System in India
- Understanding the Tax Structure
- Tax Authorities
- Direct and Indirect Taxes
- Types of Taxes
- Goods and Services Tax
- CGST, SGST and IGST
- PAN and TAN
- TDS and Professional Tax
Module 8: Consumer Protection
- Know Your Customer
- Unregulated Entities
- Reading the Fine Print
- Identity and Information Security
- Investment Scams and Frauds
- Phishing and Vishing
- Lottery and Email Scams
- Role of RBI, SEBI, IRDAI and PFRDA
- Grievance Redressal Mechanism
Module 9: Fin Tech
- Digital money, UPI and payment gateways
- Deciphering Crypto currency & Blockchain Technology
- AI and Data Analytics
- Online Scams and Cyber Fraud
- Using software and online tools to manage finance
Module 10: Business Finance
- Understanding the world of business finance
- Accounting Procedures
- Different Financial Statements and its implications
- Making sense of financial statements and their analysis
- Venture Capital and Crowdfunding
- Differentiating business and non-business accounting