Money and finances are an integral and important area of our life. Everyone has different relation with money. Some are very comfortable discussing and handling their financial matters. While there are others who feel dreaded with mere conversation of it. People develop notions about themselves in this area and accept it as an eternal truth. Even today we have clients who have been working for more than a decade and cannot fill their tax declaration form without consultation. While there is nothing wrong about it, but probably one of the reasons of this fear is that they were exposed to money management at a very matured stage in life.

The challenge now for them and for others as well is to make sure their children are not left with similar experience. While many tools and games are being developed to overcome these, but it generally requires involvement of parents. We came across this phenomenal initiative by FSDC (Financial Stability and Development Council) a government body, called NCFE (National Centre for Financial Education)

NCFE has representatives from all regulatory bodies like RBI, IRDA, SEBI to name a few. The vision of NCFE is “A financially aware and empowered India.”. NCFE is doing fabulous job by creating wonderful content for financial literacy which can be downloaded from their website. One of their most commendable work is to conduct Financial Education Training Program across India for school teachers of class VIII to class X, and make them “Money smart Teachers”. So that children in these classes can be introduced to the concept of money management.

NFLAT – National Financial Literacy Assessment Test

Currently NCFE is accepting registrations for NFLAT. This is a first of its kind national level test, conducted by the NCFE, to measure the level of financial literacy among school students. Through this test NCFE aims to encourage school students to obtain basic financial skills which are essential for their full participation in society.

Targeted towards school students of Class VIII to X, NCFE-NFLAT would assess their knowledge on topics such as Money, Savings, Banking, Budgeting, Insurance, Investment, Retirement planning, etc. The test is conducted online across the country, both in English and Hindi. The last for registration is 17th October.

We urge you to take this program to your school, and get as many children registered for this test. It not only creates awareness but also a new inquisitiveness in child about money. Please  click here to know more about NFLAT.

Please write back for your comments and suggestions, and most importantly if you need any assistance from us to spread this.

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