Financial Literacy Training for Kishoris, Manori - 17th Sept, 2015

Financial Literacy Training - Importance of Budgeting

On the 17th Sept, 2015 a group of enthusiastic Kishoris (adolescent girls) met together in Our Lady of Perpetual Succour Church Hall and were led together through a Financial Literacy Training on the 'Importance of Budgeting', by the CCO staff, Ms. Suvarna Bandya. 

She began the session by asking questions to the young girls on 'what is meant by budget?'. Budget is prepared in order to estimate an expense for the future. It is prepared on a weekly, monthly or periodical basis. for e.g. the monthly expense of rations, electricity bill etc. 

Budget is important as if conduct a careful study on our required expenses then we get a clear idea on how much money we  need to keep aside for our expenses. The girls were led through a series of exercises that enabled them to calculate, where they spend their money for e.g. typical household expenses like transportation, food, clothing, medical, recreation etc. The girls then calculated their monthly income and expense and were led to realize what action they could take to save or use their savings wisely. For e.g. if they had a surplus then they could save their money, or they were overspending then they would need to reflect and stop expenses. 

Report prepared by Ms. Snehal Patil.