WHY INDIA NEEDS TO WORK ON

FINANCIAL LITERACY
 In South Asian countries, only 25%

of the adults are financially

25% literate 

Whereas, In India, 76% adult

population does not understand

even the basic concepts of

76%
financial literacy
 WHAT IS FINANCIAL LITERACY

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

 FINANCIAL LITERACY- NEED

Statistics

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
Demographic

 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-

- Social Factors

- Economic Factors
Social Factors

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
Economic Factors

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 
 FINANCIAL LITERACY- CONSEQUENCES

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
 HOW POWER TO ME CAN HELP YOU?

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--

Personal Empowerment
Financial Literacy
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 

 THANK YOU

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