Finance is an important part of our lives. It holds all the pieces of our life together. But, if we raise the topic of financial literacy many of us will look clueless. The condition is even more critical for developing nations like India.

1. W H Y I N D I A N E E D S T O W O R K O N
F I N A N C I A L L I T E R A C Y

2. 2 5 %
7 6 %
In South Asian countries, only 25%
of the adults are financially
literate
Whereas, In India, 76% adult
population does not understand
even the basic concepts of
financial literacy

3. W H A T I S F I N A N C I A L L I T E R A C Y
Financial literacy, according to literal definition, is the ability to use
knowledge and skills to manage financial resources effectively for a
lifetime of financial well being
It plays a bigger role in a country like India, as it is considered an
important adjunct for the promotion of financial inclusion and
ultimately financial stability

4. F I N A N C I A L L I T E R A C Y - N E E D
As per the global survey by Standard & Poor’s Financial Services LLC
(S&P), In South Asian countries, only 25% of the adults are financially
literate
In India, 76% of the adult population does not understand even the
basic concepts of financial literacy. Hence, for an average Indian,
awareness of the importance of financial literacy is yet to become a
priority
Statistics

5. India is relatively young nation compared to developed western
countries. The youth that are joining the workforce today will
eventually grow older and will need to meet their living expenses
and medical expenses in old age
To meet the need people should be financially aware which is not
the case now
This conundrum is compounded by various other factors-
Demographic
- Social Factors
- Economic Factors

6. Nuclear families -Nuclear Families have become a lot more prevalent,
and older people might, in future, not be able to count on the support
of the joint family system
The rise of Consumerism- There are a lot more avenues to spend
money. Targeted advertisement make people attracted towards
various goods or services. Hence we see increasing cases of revolving
credit card debts, and payday loan debt traps
Savings and investments, on the other hand, are considered hard and
boring
Social Factors

7. Advent of Private Sector and Slower Government Hiring results in
more people joining the private sector. Govt.jobs offers various perks,
allowances, health care benefits and pension plans, which is not the
case with private organizations
As a result, planning for retirement is now left to individuals who do
not have adequate financial knowledge on how to prepare for the
future
The rise of Automation- Computerization and Automation
technologies are making many jobs redundant, hence, people need
to learn new skills to stay relevant and employable in the knowledge
economy
Economic Factors

8. F I N A N C I A L L I T E R A C Y - C O N S E Q U E N C E S
Financial illiteracy is a burden to our nation
Financial illiteracy results in higher cost of financial security and
lesser prosperity
According to a study, Indians resort to investing more on physical
assets like gold, land etc or in short investments
This conflicts with the greater need for long-term investments for
households and various steps of life
It also raises concerns for meeting the country’s capital requirements
for infrastructure

9. H O W P O W E R T O M E C A N H E L P Y O U ?
Looking at this urgent need of financial literacy in India, Power to
me came up with the concept of e-learning module on various
aspects of Financial literacy like--
Financial Literacy
Personal Empowerment
Business Institute of Growth
Investment Empowerment
They are designed in a way that it collectively helps you to gain in-
depth knowledge. It empowers you with the skill sets required for
lifelong financial planning

10. T H A N K Y O U
You are just one click far from your financial planning,
Get started right now.
To know more about Power to me and it's different modules,
contact us now.
FOR REGISTRATION CLICK HERE