We have great pleasure in presenting First edition “Financial Literacy” written for students of UG courses. The related matters are written in a simple and easily understandable.
This volume is an attempt to provide the students with thorough understanding of Financial Literacy. We have presented the subject matter in a systematic manner with liberal use of charts and diagrams where ever necessary so as to make it interesting and sustain students’ interest.
Contents –
Unit – 1 Introduction to Financial Literacy
Introduction
Definition of Financial Literacy
Importance of Financial Literacy
Objectives of Financial Literacy
Impact of Financial Decisions on Personal Well-being
Financial Goal Setting
Setting SMART Financial Goals
Prioritizing Financial Goals based on Needs and Values
Developing a Personal Financial Plan
Review Questions
Unit – 2 Budgeting and Expense Management
Introduction
Basics of Budgeting
Tracking Income and Expenses
Creating and Managing a Budget
Saving and Emergency Funds
Importance of Saving
Strategies for Building Emergency Funds
Savings Accounts and other Saving Options
Review Questions
Unit – 3 Introduction to Investing
Introduction
Basics of Investing
Types of Investment Options (Stocks, Bonds, Mutual Funds, etc.)
Risk and Return
Investment Strategies
Diversification and Asset Allocation
Long-term vs. Short-term Investing
Understanding Investment Risk
Credit Management
Importance of Good Credit
Credit Scores and Reports
Managing Credit Cards and Loans
Debt Management and Repayment
Understanding Different Types of Debt
Strategies for Debt Repayment
Debt Consolidation
Refinancing Options
Review Questions
Unit – 4 Evaluating Financial Products and services
Introduction
Importance of Insurance (Life, Health, Property)
Understanding Insurance Policies and Coverage Options
Financial Decision Making
Making Informed Financial Decisions
Avoiding Common Financial Pitfalls
Review Questions
