In today's rapidly evolving world, financial literacy is a vital skill that children need to navigate their future successfully. At instrucko, we understand the importance of equipping young minds with the knowledge and tools to make informed financial decisions. That's why we're excited to introduce our Financial Literacy Online Course designed specifically for kids.
Understanding the Basics:
Our Financial Literacy course begins by laying a solid foundation of financial knowledge. Through engaging lessons and interactive activities, children learn essential concepts such as budgeting, saving, spending wisely, and the value of money. We believe that instilling these fundamental principles early on empowers children to develop healthy financial habits that will serve them well throughout their lives.
Exploring Real-World Scenarios:
One of the highlights of our course is the incorporation of real-world scenarios and case studies. By immersing students in practical situations, we enable them to apply their newfound knowledge to everyday life. From planning a budget for a family vacation to setting financial goals for a future purchase, children learn to think critically and make sound financial decisions in various contexts.
Interactive Learning Experience:
At instrucko, we believe in making learning fun and engaging. Our Financial Literacy course features a range of interactive activities, games, and quizzes designed to capture children's attention and keep them motivated. Whether it's managing a virtual bank account or participating in a simulated stock market game, students actively participate in their learning journey and develop a deeper understanding of financial concepts.
Expert Guidance:
Our course is led by experienced educators who are passionate about empowering children with financial knowledge. With a blend of expertise in both finance and education, our instructors provide personalised guidance and support to every student. Through mentorship and feedback, children gain confidence in their financial abilities and are encouraged to ask questions and explore new ideas.
Preparing for the Future:
Ultimately, our Financial Literacy Online Course aims to prepare children for the financial challenges and opportunities they will encounter in adulthood. By arming them with essential financial skills and fostering a mindset of financial responsibility, we empower them to take control of their financial futures and make informed decisions that lead to financial success and security.
instrucko's Financial Literacy course covers:
Teamwork | • Describing team and team works • Requirements of teamwork • Benefits of team work |
Introduction to financial literacy | • Basic financial concept • Concepts of the Barter system • Needs vs wants • Trade and Money • Bills/Cash Memos |
What is money? | • Evolution of money • History of money |
Money exchange system | • Money as a medium of exchange • Bartering • Use of currency |
Key characteristics of money | • Functions of money • Medium of exchange • Standard of value or unit of account • Store of value |
Banking | • Evolution of money • Origin of bank • Types of banks - their services and products • Key banking operations • Importance and purpose of Banks • The functions performed by Banks |
What is a bank account? | • What is a bank, and what does it do • How to open a bank account • How to deposit or withdraw cash • What are the bank account holder's document • Types of bank account • Electronic banking |
Security | • Role and importance of the Reserve Bank of India (RBI) • Introduction to digital banking and the Digital India Initiative |
Modes of Digital payments - Card based | * Kinds of bank cards * POS and mPOS * Types of ATMs |
Debit and credit cards | • What is a debit card • What is a credit card • Pros and cons of debit and credit cards • Do's and don'ts • How to choose a card • Financial identity theft • Safeguard |
Using credits wisely | • What is credit • Components of a loan • Types of credit • Benefits of credit • Cost of credit • Why do people want credit • Cash flow • Impact of credit decisions • Tips to use credit wisely |
3C's credit | • Credit report and its elements • Credit bureaus • 3C's of credit • Credit score, its factors and importance • Credit application |
Modes of Digital Payments − Biometric Based | • Role and definition of UIDAI, Aadhaar and AePS • Purpose and benefits of Micro ATM machines |
Modes of Digital Payments − Mobile-Based Banking and others: | • Various forms of digital payments including Internet banking and mobile banking • Digital Platforms: UPI and mobile wallets • USSD and its application |
Financial planning (I) | • What is financial planning • Importance of financial planning • Components of financial planning • Financial planning process • Types of risk • Factors influencing financial planning • Life situation • Money values and economic conditions • Benefits of financial planning |
What is financial planning? (II) | • Setting goals • Analysing information • Creating a plan • Implementing the plan • Monitoring and modifying the plan |
What is income? | • Income • Taxes and other deductions |
Types of income | • Heads of income • Income from salary • Income from business and profession • Income from house property • Conditions for taxation • Capital gains |
Components of salary | • What is salary • Types of pay • Basic salary • Different types of allowances • Perquisites • Deductions • EPF • TDS • CTC |
What are expenses? | • Fixed expenses • Variable expenses • Building your budget |
Why save | • Disposable income and saving • Calculating simple and compound interest |
Setting goals | • Goals • How to set a goal • SMART goals • How to achieve goals |
Systematic savings and investments | • What is savings • Investment and types of investments • Time value of money • Systematic investment plan • Net asset value |
Decision making | • What is decision making • PACED decision-making model • Trade off • Opportunity cost • Decision-making biases • Benefits of decision-making • Skills needed for making good decisions |
Making a budget | • Budgeting • Household budgeting • Tips for preparing household budgeting • Personal budget • How to adhere to your budget • Types of expenses |
Insurance | • What is insurance • Risk and its management • How does insurance work • Component of insurance • Cost of insurance • Advantages and disadvantages • IRDAI & insurance ombudsman |
Types of insurance | • Life insurance • Linked insurance plans and their pros and cons • Endowment plan • Child insurance plan • Retirement insurance plan • General Insurance • Health insurance • Home Insurance • Motor insurance • Travel insurance • Commercial insurance |
Debt management | • What is debt • Credit and debt • Types of debt • Good vs bad debt • Signs of a debt trap • How to get out of debt • Debt to income ratio • Debt action plan • Repayment strategies |
Taxes | • What are taxes • Income tax • What are taxes used for • Tax collection • Taxable and non-taxable income • Income tax department of India • Income tax return • Form 26AS • Form 16 • PAN and TAN |
Types of taxes | • Different types of direct and indirect taxes • GST • Import duty • Administration of tax laws • CBDT and CBIC |
Investment basics: | • What is investment • Purpose of investment • When to start investing • Care to be taken while investing • Interest and rate of interest • Short and long-term financial options for investment • Stock exchange • Equity/share • Mutual fund • Debt instrument • Derivatives • Index • Depository • Dematerialisation |
Securities | • What are securities • Function of securities markets • Regulator • Participants |
Primary market | • Role of primary market • Issue of shares • Market capitalisation • Foreign capital issuance |
Secondary market | • What is secondary market • Difference between primary and secondary market • Stock exchange • Stock trading • Products in the secondary market • Equity investment • Debt investment |
Derivatives | • Types of derivatives • Commodity exchange |
Depository | • Depositories in India • Benefits of participation in a depository |
Mutual funds | • SEBI • Benefits of investing in mutual fund • Types of mutual fund • Investment plans under mutual fund • Rights available to mutual fund holders in India • Active and passive fund management • Exchange trade fund |
Corporate actions | • What is meant by 'dividend' declared by companies • Stock split • Buyback of shares • Index (NIFTY) • Clearing & settlements and redressal |
Concepts and modes of analysis | • Simple interest • Compound interest • Time value of money • Annual report • Balance sheet • Profit and loss account |
Money decision | • Money choices • Money style • Saver, spender, and avoider • Money circle • Money values |
Early entrepreneurship | • Entrepreneur • Skills requires • How to become an entrepreneur • Challenges |
Crypto | • Web 3 • Blockchain • Cryptocurrency • NFT • Metaverse |
Fintech | • What is Fintech • Technologies in Fintech • Fintech applications |
Conclusion:
At instrucko, we believe that every child deserves the opportunity to develop the skills and knowledge they need to thrive in an increasingly complex world. Our Financial Literacy Online Course is just one example of our commitment to providing high-quality education that prepares children for a bright and prosperous future. Join us on this journey of empowerment and equip your child with the tools they need to achieve financial literacy and independence.
