Empowering Youth through Financial Literacy | Anushree Barve | TEDxSJS Abu Dhabi Youth

Financial Literacy Importance - Financial literacy is crucial for managing money effectively from a young age [6][11] - Budgeting, saving, investing, and avoiding debt are four core skills for financial literacy [20] - Financial security is not about how much one has, but how well one manages what they have [37] Practical Application & Rules - The 50/30/20 rule suggests allocating 50% of income to expenses, 30% to needs, and 20% to savings [21] - Saving from childhood is important, and schools should teach money management [13] - Investment is essential to grow money, as saved money remains stagnant [13] Benefits of Financial Literacy - Achieving financial literacy leads to independence, confidence, and the ability to achieve long-term goals [23][24] - It enables smart decision-making and reduces stress for both individuals and their parents [25][26] Common Mistakes & Emergency Funds - Impulse buying and succumbing to peer pressure are common financial mistakes [26][27] - Building an emergency fund is crucial for handling job loss or business shutdowns [29] Global Perspective & Education - Western countries often encourage children to earn money from a young age [4] - Some colleges in India are introducing financial literacy courses, highlighting the need for such education [33][34]