Chennai, 27 March 2023: Financial literacy is a critical life skill that is vital for creating a financially inclusive society. That’s why ACCA members in India have voluntarily created a financial literacy programme that helps children become aware of the importance of managing money.
By partnering with the Padma Seshadri Bala Bhavan Schools (PSBB) School in Chennai, the vision of equipping children with Financial Literacy, a life skill educational programme for schools has been turned into a reality. Over 500 Grade VI students in the three branches of PSBB have taken part in the programme during 2022-23 and completed the first module on the Evolution of Money.
At an event in Chennai to celebrate the successful completion of the pilot project, ACCA President Joseph Owolabi thanked the students, teachers, partners and ACCA members involved.
He said: ‘One of the greatest strengths of ACCA India is how members help each other and their communities. This programme has only been possible because of their passion, commitment and enthusiasm.’
The FL modules set out to develop financial confidence in young minds and to help middle school students feel positive about their future because financially aware young people are empowered to make good decisions and evolve as better consumers. Through games, discussions, activities and stories that formed part of the course content, students developed an understanding of how money evolved from a barter system to plastic and now digital money. They learnt about types of income and expenses, and about needs and wants, to enable them to manage money better by adopting positive behaviour.
By implementing FL as part of its curriculum, the PSBB School has created a valuable legacy, helping a generation to assimilate these basic financial concepts that will help them as individuals, their families and society at large. We’re grateful for the support and collaborative effort of the teachers and our Approved Learning Partner, ANSA.