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Financial Literacy is empowering

‘Make the money work for you,’ is a famous saying around the world and that is only possible when an individual is aware as to how to handle their finances and make the right financial decisions. This is where financial literacy plays a major role.

Financial literacy is said to be one of the ways of being empowered. People who are empowered with even a basic level of financial literacy are much more likely to have less debt, greater savings, and more assets than those who don’t, according to the National Financial Educators Council (NFEC). But in India, the Financial literacy rate of young adults is only 27% as per the 2019 SEBI report. Therefore, today financial literacy is gaining importance as a new academic domain.

According to the National Bureau of Economic Research, more than 40% of people with insufficient financial literacy rely on friends, family, and acquaintances for financial knowledge. But for the financially educated, that percentage is cut in half — financial literacy, it turns out, leads to empowerment and self-reliance. It is believed that financial literacy at a young age will help rising investors to understand the risk factors and help in building wealth.

Considering the necessity, the BSE Institute Ltd. aims at making more and more people money literate by providing them with basic to advance level courses taught by experienced industry experts, to know more visit-  https://www.bsebti.com/

 

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