The Bishop’s School (Camp), The Bishop’s Co-ed School (Kalyani Nagar), City International School & Junior College and Silver Crest School amongst others engage with muvin to instil financial literacy students from Grade 7 to 12
Over 5000 students from Pune participated in FINMANIA, India’s largest Money Olympiad for Students
Pune (Voice News Service): Pune schools are fast embracing and building on the principle that students learn best when they are given a chance to take charge of their own learning. Over 5000 students from Grade 7 to Grade 12 from city based prestigious institutions like The Bishops School (Camp), The Bishop’s Co-ed School (Kalyani Nagar), City International School & Junior College and Silver Crest School amongst others participated in FINMANIA, India’s largest Money Olympiad for Students. The first initiative of such scale is being hosted by muvin, India’s leading pocket money app for teens empowering Indian students with digital financial literacy and inclusion.
India’s teens are increasingly showing a strong inclination towards learning about new age digital financial solutions. Aligned with their sentiment, Pune schools are encouraging its students to test their financial literacy levels through offline and online exams which will then be followed by the zonal exams and the finale, with the winning prizes worth up to INR 10 lacs. Students from these schools are being exposed to age-appropriate financial literacy skills via graded curriculum specifically designed for Grade 7 and 8, Grade 9 and 10, and Grade 11 – 12, focusing on the following areas:
| Grade 7 and 8 | Grade 9 and 10 | Grade 11 and 12 |
| Needs and WantsNeeds are items that are essential for our living, while wants are items that are good to have Goods and Services We satisfy our needs and wants by consuming goods and services. Goods are stuff that are tangible. Services, on the other hand, are not tangible.Getting Money We all need a continuous stream of money to live a comfortable life. Most adults usually make money in one of the 2 ways – doing a job or running a business.Concept of Money We use currency notes and coins issued by the government. Human societies have been using money for over 5,000 years. | Know your Money Knowing these security features of Indian currency notes can ensure that we do not get fooled by fake currency notes.Taxes Taxes are mandatory contributions levied on individuals or corporations by a government entity—whether local, regional, or nationalCompounding Compound interest is interest calculated on the initial principal, which also includes all of the accumulated interest from previous periods on a deposit or loan.Inflation A general increase in the price levels of goods and services. There could be a variety of reasons for inflation.Calculating Interest Understanding how Simple Interest is fairly straightforward to calculate. | Time Value of Money The concept that a sum of money is worth more now than the same sum will be at a future date due to its earnings potential.Stock Markets The stock market is the economic engine that connects innovative companies looking for capital and investors looking to beat inflationCredit cards vs debit cards Much of shopping has shifted online, and we need a credit card or debit card to transact online.Mutual Funds Financial products that enable investors to create well-diversified portfolios even with a small amount of capital. But how does the mutual fund perform this magic? |
Shayne McPherson, Principal, The Bishop’s Co-ed School (Kalyani Nagar) says, “Participating in FINMANIA has been an enlightening and a unique experience not only for the children but also for the teachers, staff and myself. We often fail to give importance to a topic as crucial as financial literacy at this stage. With the help of this unique money olympiad, our children will now be able to control their finances efficiently when they enter adulthood. We are impressed by the positive effect FINMANIA has had on our children and how it helped them develop a curiosity in the different domains of finances”.
Anuja Yerudkar, Principal, Silver Crest School remarks, “We are thankful for the excellent support provided through FINMANIA in shaping the young minds with the concept of money management. Associating with muvin’s initiative was a valuable learning opportunity for these youngsters to get an exposure on varied aspects of banking and finance which will be beneficial for them in the long run”.
Mukund Rao, Co-Founder, muvin adds, “Indian teens are becoming financially independent, more than ever before. As young consumers, they are opinionated when it comes to their personal life and the choices they make, whether it is related to gadgets, fashion, food or travel. Partnering with over 200 schools across India for the Olympiad has brought us closer to our vision of empowering India’s 200 million teens with financial inclusion and literacy”.
