Financial literacy is the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being. For many young professionals, they are not receiving financial education. According to the National Council on Economic Education, only a handful of states require students to complete a personal finance course in school. A financially-educated population is a community asset, and the current population is largely unprepared to face their financial future.
Financial literacy at workplace helps the employees learn ways to better manage their money. From utilizing the resources available for employees to learn how to handle their finances and the basics of finance - making a budget and sticking to it, setting aside savings, evaluating spending, etc. Research has claimed that one in four employees are suffering from serious financial distress. Nearly half of those who are financially distressed report that their health is negatively impacted by their financial worries; and 30% to 80% of financially distressed workers spend time at their place of employment worrying about personal finances and dealing with financial issues instead of working. Hence, apart from physical wellness, the focus for the companies today should also be financial wellness.
To take this initiative ahead, The Economic Time is pleased to announce the 3rd Edition of The Money Gurukul Series to be held across 12 cities - Bangalore, Chennai, Mumbai, Noida, Ghaziabad, Delhi, Kochi, Trivandrum, Pune, Hyderabad, Vishakhapatnam, Chandigarh