At Drushyam School, learning was no longer fixed to textbooks. Each morning was followed with a familiar rhythm – morning assembly, classrooms buzzing with lessons, and students immersed in textbooks. But one quiet room on the 1st floor held something new. A small green board titled “Money Lab.”
This was where Drushyam School’s journey with school financial literacy programs truly began.
When Money Became a Classroom Subject
For years, teachers noticed a pattern where students excelled in exams but took effort in understanding everyday financial choices. They could solve algebra, yet didn’t know how savings worked. This gap inspired the introduction of school financial literacy programs – and Drushyam School started the program as part of everyday classroom experiences.
The school started the program through storytelling, projects, and experiential learning. Financial education for students became practical, experiential, and engaging. They learned:
- Budgeting through event planning
- Saving through classroom goals
- Wise spending through community discussions
This approach ensured financial education for students supported real-world application, which aligned perfectly with NEP 2020’s focus on life skills and experiential learning.
By implementing school financial literacy for youth across grades, the school ensured there was continuity and relevance. Financial understanding became a lived experience for students.
Also Read: Why is financial literacy an essential part of education?
Why Financial Literacy is Essential for Students
One afternoon in the Money Lab, Ms. Ananya asked her students a simple question: “If someone gives you ₹500 today, what would you do with it?” The classroom came alive.
“Spend it!” one student said.
“I would save it,” another replied.
“I’ll split it – spending and saving,” said a third.
The discussion revealed why it is essential to have financial literacy for youth. Ms. Ananya explained, and students began to understand that financial knowledge helps them:
- Develop wise spending and saving habits from an early age
- Navigate the growing ecosystem of digital payments like UPI and mobile wallets
- Understand the need for planning for education, careers, and future goals
- Avoid poor financial decisions caused by a lack of awareness
- Build confidence in managing personal finances
Teachers at Drushyam School realised that when students understand money at an early age, they grow into adults capable of making thoughtful financial decisions. Over time, the financial literacy curriculum became a model for integrated learning.
Core Components of a Financial Literacy Curriculum for Schools
As the program was enhanced, the ‘Money Lab’ sessions began to follow a structured and engaging financial literacy curriculum for schools. Each module focused on a key financial concept that students would face in everyday life.
1. Basics of Money Management
The first module focused on understanding ‘needs vs wants’. Students understood how:
- Needs include food, transport, and education, which are essential for daily life
- Wants include gadgets or entertainment, which are for lifestyle purposes
- Budgeting helps to balance – spending and saving
To make it more practical, students were asked to create simple budgets for planning a class event.
2. Understanding Banking and Digital Payments
During a session, the class discussed how money gets transferred in today’s digital world. Students learned about:
- The role of banks in maintaining savings and transactions
- Safe usage of UPI, debit cards, and mobile wallets
- Awareness about security on digital payment and fraud prevention
For many students, it was their first clear understanding of how modern financial systems work.
Why Curiosity Is Essential in Education
3. Introduction to Savings and Investments
Ms. Ananya introduced the idea of increasing money over time. Students studied concepts such as:
- The difference between saving and investing where saving is setting aside money safely for future use. Investing means putting money into alternative options that can grow over time.
- Long-term savings, where we save money steadily over many years, while earning interest, like the Public Provident Fund (PPF)
- Investment plans are where we can invest small amounts regularly and allow our money to grow gradually, such as mutual funds and SIPs
Students came to know that small contributions made today could lead to financial security in the future.
4. Loans and Interest Rates
One curious student raised a question: “If loans cost extra money, why do people take them?” This opened a conversation about:
- Education and business loans
- The concept of interest rates and repayment
- Responsible borrowing and avoiding needless debt
Students realised that loans can be useful but only when managed wisely.
5. Taxes and Their Importance
In a social science class, the conversation was on the role of taxes in society. Students learned about:
- The basics of income tax
- How GST applies to everyday purchases
- How tax contributions help fund public services like roads, healthcare, and education
This helped students see how financial systems connect directly to national development.
6. Financial Goal Setting and Planning
Ms. Ananya asked students to write down a personal financial goal, such as:
- How would you save for higher education?
- How would you start a small business?
- How would you support your family financially?
They learned that to achieve these goals, they require planning, disciplined saving, and wise decision-making.
Effective Teaching Methods for Financial Literacy in Schools
How was the financial literacy program successful at Drushyam School? It was the way Ms. Ananya taught by implementing interactive and experiential teaching methods to make learning relatable and engaging.
Students started participating in activities such as:
- Students practiced in budgeting and financial planning through experiential learning
- Students mimicked real-life financial decision-making through simulation games
- Students acted as bankers, customers, and entrepreneurs through role-playing activities
- Students planned events within fixed budgets through project-based activities
- Students explored everyday financial challenges through group discussions and debates
These approaches transformed financial education for students from a theoretical subject into a practical life experience.
Varthana helps institutions invest in infrastructure, strengthen learning environments, and build greater trust within their communities by supporting schools with responsible and transparent school financing solutions.
Also Read: The Benefits of Teaching Financial Literacy to Children at an Early Ages
Overcoming Challenges in Implementing Financial Literacy Curriculum in India
Do you think that Drushyam School faced challenges while introducing financial literacy for youth in school? Yes, as teachers found it difficult to explain financial concepts because many had never studied finance themselves. To address this challenge, the school arranged training sessions and workshops.
Another challenge was implementing financial literacy into an existing curriculum, instead of adding a new subject. The school integrated financial topics into existing subjects, such as:
- MathematicsIn a lesson on percentages and ratios, students were asked to calculate interest on a small savings amount:“If you save Rs. 1,000 in a bank with 5% annual interest, how much will you earn after one year?”When students worked on this question, they realised that the formulas they learned could explain real financial concepts like interest, savings, and budgeting.
- Social scienceWhile discussing the Indian economy, students were asked about taxes. Students were asked questions like:
- Why do we citizens pay income tax?
- How does GST have an effect on our everyday purchases?
- By paying taxes, how do we help build roads, hospitals, and public schools?
These questions helped students understand and connect economics lessons with real-life financial initiatives.
- CommerceOlder students worked on small projects where they:
- Designed a simple business idea
- Calculated expected costs and profits
- Created a basic budget and financial plan
These exercises gave students early exposure to entrepreneurship and financial planning.
- Language classesIn language classes, students were asked to write short essays or debate topics on:“How can youths develop good saving habits?”“Why is budgeting important for us?”
“Digital payments and their benefits in India”
This helped students articulate financial ideas clearly while improving communication skills.
This approach allowed the program to grow naturally within the school’s learning structure.
Outcome
Years later, Drushyam School alumni displayed confidence in budgeting, saving, and ethical financial decision-making. The implementation of school financial literacy programs, structured financial education for students, effective teaching of finance in schools, financial literacy curriculum, and continuous student financial education has created a lasting impact.
FAQs:
1. What age is best to start financial literacy programs in schools?
It is ideal to start in the primary school years (ages 6–8).
2. How can schools measure the success of financial education for students?
- By tracking learning outcomes and real-life applications
- By observing their behaviours in budgeting skills, spending choices, and participation in discussions.
- Feedback from students, parents, and teachers – provides a holistic competency-based evaluation approach.
3. Are financial literacy programs mandatory in Indian schools?
They are not mandatory. Under NEP 2020, it is suggested as a part of life skills, experiential learning, and multidisciplinary education.
4. Can technology improve teaching finance in schools effectively?
Yes, when it is used wisely and age-appropriately.
5. How do financial literacy programs impact students’ future financial behavior?
- By building strong foundations
- By developing habits such as savings, budgeting, and wise spending and borrowing
- By increasing confidence, reducing impulsive choices, and encouraging long-term planning
6. What resources are needed to implement a comprehensive financial literacy curriculum?
- Trained teachers – Who understand financial concepts and know experiential teaching methods
- Learning resources – Resources such as activity guides, case studies, simulations, and digital tools
- Support from administrative support, time allocation, partnerships with financial institutions or education-focused organisations like Varthana.
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