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Money Matters- An initiative to spread Financial Literacy




 

Source:http://educationtimes.com/educationTimes/CMSD/Newsroom/1/2012052220120522121753409733a2e50/Money-Matters.html

Money Matters

Posted On: Tuesday, May 22, 2012
Workshop on Financial Literacy organised by The Heritage Academy Kolkata for its faculty members was successful
Kolkata: The Heritage Academy, Kolkata organised a workshop for staff and faculty members on May 4, 2012. Rishi Khator, eminent chartered accountant; Prof Gour Banerjee, principal of Heritage Academy and Pradip Agarwal, CEO of Heritage Group of Institutions, provided insights to those who attended the workshop.

The workshop focused on the topic ‘Right now: Financial Literacy’ where Khator spoke about the ingredients of personal financial planning and financial decision making process which can make one’s life happy to overcome difficult situations. “Right attitude towards money making is the key to a happy life,” said Khator.

The focus was on the right attitude towards managing money for personal satisfaction. “People tend to make common financial mistakes which result in major losses and one should be very careful when it comes to dealing with personal finance,” said Khator. He cited some of the common financial mistakes like incurring too many loans, inadequate insurance policies for security, guessing the stock market based on tips which are abundant in the market, spending unnecessarily on luxury, impulsive financial investments and many more. The workshop also depicted the modern investment alternatives available for a person to invest, like mutual funds, exchange traded funds, innovative bonds, initial public offerings, real estates, commodities, gold and many more.

“When the mind is in harmony with the present moment then only happiness in life can be achieved,” said Khator reflecting on the requirement of right mindset for effective financial management. Khator had also published a book on this topic and presented the same in many other institutes. Such event reminds us of the contributions of Dr Prasanna Chandra, an eminent professor in the field of Investment and Financial Management for making the subject financial management lucid for non-finance executives.

The workshop was very simple. The faculty and staff members appreciated the motive behind organising the workshop in the campus. “Such workshops are very much necessary to know the current financial instruments that are available in the market for effective investment,” commented one of the participants.

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