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  • FLC - Session 1

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    Vishakha Singla
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    This document contains information about various banking and financial literacy topics for children, including: 1) It defines what a bank account is and explains that money can be deposited and withdrawn from an account, and that interest can be earned. 2) It discusses e-banking services that allow customers to conduct transactions via mobile phones, as well as UPI payment apps. 3) It introduces budgeting and the 50-30-20 rule for allocating spending between needs, wants, and savings. 4) It lists some benefits of savings such as being able to purchase large items in the future or having funds for emergencies. 5) It provides examples of government schemes and options for

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    This document contains information about various banking and financial literacy topics for children, including: 1) It defines what a bank account is and explains that money can be deposited and withdrawn from an account, and that interest can be earned. 2) It discusses e-banking services that allow customers to conduct transactions via mobile phones, as well as UPI payment apps. 3) It introduces budgeting and the 50-30-20 rule for allocating spending between needs, wants, and savings. 4) It lists some benefits of savings such as being able to purchase large items in the future or having funds for emergencies. 5) It provides examples of government schemes and options for

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    © All Rights Reserved
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    2 views15 pages

    FLC - Session 1

    Uploaded by

    Vishakha Singla
    This document contains information about various banking and financial literacy topics for children, including: 1) It defines what a bank account is and explains that money can be deposited and withdrawn from an account, and that interest can be earned. 2) It discusses e-banking services that allow customers to conduct transactions via mobile phones, as well as UPI payment apps. 3) It introduces budgeting and the 50-30-20 rule for allocating spending between needs, wants, and savings. 4) It lists some benefits of savings such as being able to purchase large items in the future or having funds for emergencies. 5) It provides examples of government schemes and options for

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 15

    SAATVAAN

    AASMAAN

    BHAVYA, VISHAKHA, ANN


    What is a bank account?
    A bank account is opened by a person when they give a sum of money to be kept
    safely in a bank.
    The money can be withdrawn at any time. Usually, people earn some interest on the
    money they keep as well.
    Another type of Banking-
    E Banking
    E-Banking is a service offered by banks through which customers can carry out transactions
    through their mobile phones. Closely related are UPI apps like Paytm, GPay etc.
    What would you do with
    1000 Rupees?
    Spending Saving
    In simple words, SPENDING means to use SAVING means not spending your money
    money to pay for something. straight away, but putting it away so you can
    spend it later.
    BUDGETING
    BUDGETING
    BUDGET is a plan for how much money will be spent and earned during a certain period.

    20% 20%
    GOES TO YOUR
    NEEDS
    GOES TO YOUR
    SAVINGS Housin
    g
    50-30-20 Transportatio
    GOES TO YOUR RULE
    50%
    n
    WANTS Healthcare
    Eating Out 30% Groceries
    Shopping 30%
    Hobbies
    50%
    Benefits of Savings
    01 02
    Saving lets you Saving can keep
    eventually buy you out of financial
    things you might trouble in
    not have enough emergencies
    money for right
    now

    03 04
    Saving offers Saving means
    greater financial self-reliance
    freedom for the
    future
    Government Schemes
    Midday Meal Scheme

    Sukanya Samridhi Yojana

    National Child Labour Projects

    Integrated Child Development Services


    What to do with
    your Savings?

    Open a Bank A/c Fixed Deposit Stock Markets


    Credit Debit
    Lets
    Lets take
    take a
    a fun
    fun quiz!
    quiz!
    Suppose you have a bank account with ₹ 5,000 in it. You
    deposit ₹ 5,700 more into it.

    Next you debit ₹ 480 from it to celebrate your Birthday


    Party!
    But your grandparents gift you ₹ 500 which is credited
    to your bank account.

    How much money do you have in your bank account


    now?
    ANSWER

    You now have ₹ 10,720 in your bank account!

    Solution:

    ₹5000 + ₹5700 -₹480 + ₹500


    Suppose you have a bank account with ₹ 5,000 in it.

    Accordig to the 50-30-20 Rule, what amout should you


    allocate to each header?
    ANSWER

    You shall allocate:


    ₹2500 to needs
    ₹750 to wants
    ₹500 to savings

    Solution:

    Just use percentages!


    TIME
    TIME FOR
    FOR A
    A RECAP
    RECAP QUIZ
    QUIZ

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