Pocket Money – a financial literacy program for school students

National Institute of Securities Markets (set up by SEBI) has started a financial literacy program for school students. It is called Pocket Money.

NISM newsletter (Feb 2011) says today’s environment is impacting children in a big way from financial literacy angle. Influenced by media and peer pressure, children often end up buying/coercing latest material from the markets. Parents face a huge challenge in today’s world where children pick up messages from media and accept it as the truth. Hence, the idea to catch them young and help children understand the value of money and saving.

It would be available for class 8-12 in schools across India. The program explains basics of saving, planning and investing. The program has been developed to make the whole learning experience as fun and activity based.

First school teachers will get training at NISM and then they would impart the lessons to students. It welcomes the participation of the whole family as well. NISM conducts a short test of students with teachers to evaluate the students.

So far 5000 schools have enrolled into the program and others are welcome.

It will be interesting to see the results of this program. It will be great if NISM also does some random control/evaluation tests to see whether the program is beneficial. Another interesting variant could be to see whether program becomes more beneficial if parents are involved as well (picking from John List’s new project).

So one could have a couple of interesting learnings here on what works and what doesn’t. Or how could the program be made better. Comparing this with internationally run programs will also help share the experiences throughout the world.

4 Responses to “Pocket Money – a financial literacy program for school students”

  1. Teaching economic principles to children « Mostly Economics Says:

    […] financial literacy programs for children are for students in 8th-12th class. Through these books, one could begin much earlier as […]

  2. R. srimathi Says:

    a very good initiative of timely need. hoping to know more about it….

  3. chithra Says:

    can we get this book online.

  4. Sridharan Says:

    Is it possbile to send this book thro online

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