Financial Literacy should be FUNancial Literacy

Financial words can make or break your way. They can shape entire economies. They can empower or weaken a person’s ability to make them believe in a different future for themselves.

I honestly had an issue with financial terms when they got introduced to me through newspapers and business channels. I started with confusion and mistakes, and this led to a great understanding. When I first wanted to invest in the stock market, the broker explained some terms to me but I was only able to remember them until I left the office.

Soon I realized that actually, we lack financial literacy. This wasn’t just with me and you.

According to a global survey, about a staggering 76% of Indian adults do not understand basic financial concepts and are unfortunately financially illiterate even today.


I decided and made a firm decision to overcome this. I began with reading books, articles, journals, and financial newspapers. After practicing this habit I got aware of all the financial lingo, now I started to understand it and practice it.

I came to a concept called “Financial Independence“, meaning the status of having enough income to pay one’s living expenses for the rest of one’s life without having to be employed or dependent on others. I decided at that moment and worked toward achieving it.

In December 2019 when I came to know about a practical mini MBA fellowship program by Enterprise I was like dude I have to be part of it.

But it has got a heavy price tag, at that moment I decided I want to be part of it and I would pay off the fees on my own. I have paid the fees for this program through the prize money I won at the IIT Bombay Techfest event. At this moment, I was Financially Independent

In our schools and colleges, we study various subjects and topics, but they do not educate us about financial literacy. Even the economics curriculum taught in high school only describes theoretical aspects of it, without touching day to day practical use of it.


I think financial literacy should be treated as an important element of our education system.


When we complete our technical education we begin to deal with our finances. The real aspect gets exposure to the financial world, as we no longer rely on pocket money. We begin to earn and our actual dreams begin to fulfill like buying a first house, a car and many things; and then the actual problem begins. People (just like you and me) are unable to understand the financial lingo and procedures about the loan, taxation, legal aspects, etc.



Some of the hacks I would like to share

  • Budget for shorter periods.

Manage uncertainty by preparing for next week, not next month.

  • Use apps to budget and track your spending

  Seeing money go hurts more

  • Struggle with shopping or eating out?

Separate money into different accounts to control the amount you spend

  • Find an accountability partner

 Stay on track and don’t overspend

I think every Indian must have financial freedom, by being financially literate.


I should put more emphasis on Personal Finance as every individual deal with it since childhood and this needs to be well versed with all of us. Be aware of our savinginvestment, and spending. We should be able to track our expenditures and incomes.

So are you spending or investing?




1 Comment
  • Sayali Shelke
    Posted at 11:07h, 28 April Reply

    Concept of financial literacy is rare, it is as important as other aspects in life. So,kudos to the work and keep writing.

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