Board games – by Vrinda, Delhi School of Economics, Delhi

Financial illiteracy is a burden on the nation in the form of higher cost of financial security and lesser prosperity.  Research shows that women typically have lower numeracy levels and have more difficulty making finance-related decisions than men and hence bear a higher burden of financial illiteracy adding to their social exploitation. In this light, there is a need for women-oriented financial literacy programs. Since people are unwilling to spend time on tedious, expensive and untailored financial training, there [...]

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Women helping women – by Anjali, MKS College of Commerce and Economics, Mumbai

Husband, children, parents and household chores; these are basically the four spheres that a typical Indian woman’s life revolves around. Starting at around five in the morning, the woman follows a very routinely disciplined schedule to facilitate an accurate management of the chores. Her work involves utmost sincerity and concentration, and yet, it has no financial benefits. She remains unpaid for the jobs she does with such humility. Those who do work as housemaids and other small scale workwomen [...]

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Team Work – by Bhavyata, South Calcutta Girls’ College, Kolkata

To improve the economic condition of the women of the country, United Public of Tanzania actively promoted savings and credit societies in both rural and urban areas of the country. Government-established women’s bank provided training and credit that complemented other micro-financing and entrepreneurship programmes which benefited women a lot. In India, the scheme – DWCRA is aimed to improve the socio-economic status of the poor women in the rural areas. Women are assigned in groups of 15 to 20 as [...]

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Incentivised workshops – by Garima, Guru Gobind Singh Indraprastha University, Delhi

The most common word we hear these days is feminism and even though everyone, everywhere is talking about it, if we look closely we’ll still find how little we’ve achieved of its purpose. A very basic example of this is finance. Most of the financial decisions in any household are generally taken by the male members of the house because in most cases women don’t have the knowledge or information needed to take these decisions as financial literacy among women is [...]

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Multi-pronged approach – by Anurag, Jadavpur University, Kolkata

Financial literacy is one of the most pressing necessities for an adult individual to possess, particularly in the context of India, residence to approximately 17.5 percent of the world’s population of which 76 percent of the total legal adults are peculiarly ignorant of the terminologies and dealings of basic finance. To make matters worse, India’s antiquarian history of misogyny and female repression had relegated female knowledge regarding financial literacy almost void for the longest time. Situations have improved, owing [...]

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Recorded tapes – by Vidyashree, Parvatibai Chowgule College of Arts and Science, Mysuru

In general,  women have lower financial literacy levels than men in the world. Working women usually tend to focus on earning their living rather than knowing about money.  Women fail in the step of organizing money according to their needs. The process of handling money for them is to earn and spend on a daily basis, but they should be told to include one more step i.e., think before you spend and save some amount if possible. ‘The Reader’ is [...]

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Student initiative – by Rashmi, Jaipur Engineering College, Rajasthan

“She fears to walk outside the room, she has to stay in confinement, the society suppresses all around, but then she brings the environment.” An educated mother is the pillar of an educated nation. Literacy in itself is not sufficient for creating stepping stones for women empowerment. Rather it should be extended to financial literacy. The ability of women in making financial decisions could contribute a lot in the economic development of the nation. It is very essential to make the [...]

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