YWCO Prepares Young Generation Financial Independency

Much has been said about millennials and their financial habits that are in dire need of management and monetary allocation in the right places. For a generation that believes in splurging and living a flamboyant lifestyle, the lack of savings and investment raises a huge question mark on their future security. However, the two years of uncertainty and monetary fluctuations have taught one thing to young parents and professionals – the need for financial awareness and implementation at the right time for hassle-free living.

If only our schooling system paid more attention to financial literacy, a lot of us wouldn’t have to struggle to save our hard-earned money. In fact, the art of taxation, investments and making correct financial decisions from a young age is turning out to be an important skill in new age society. As children are learning and adapting to a fast-paced environment fuelled with modern technology and constantly changing economies, it is a must-have skill to learn for debt-free life and be financially sustainable in the long run.  

“Financial literacy is a core life skill for participating in modern society. Children are growing up in an increasingly complex world where they will eventually need to take charge of their financial future,” mentions Parichita Bansal, Founder, Young Wealth Creators Organisation (YWCO).

The YWCO is an educational programme designed for school kids that teaches them the value of investments and introduces them to the nitty-gritty of budgeting, savings, investments and risk management of assets for a rainy day. It is also an informative way to learn about money-related matters and plan a stable means of income for old age, health care and other types of crises. The curriculum is conducted for a period of five months in twenty weeks after school. It is designed by Parichita Bansal, a serial entrepreneur and retail investor, who comes from a strong business background. An engineering graduate and postgraduate from New York University, she is a firm believer in imparting financial knowledge to kids and teaching them the impact of short-term and long-term investments for building a corpus amount.

Some of the important topics covered under the YWCO curriculum are about making good money decisions, the art of budgeting and developing a financial plan, buying a home, banking services, credit and credit cards, buying a car and car loans, the influence of advertising, saving and investing, fundamental investing, value investing, consumer awareness and privacy, tax planning and Section 80D, insurance and protecting interests.