Financial literacy is a crucial life skill that empowers students to make informed decisions about money from an early age. Manish Rastogi, CEO of Zee Learn Ltd, discusses going beyond theory, using interactive activities like budgeting exercises, real-world case studies and entrepreneurial projects to ensure students grasp essential financial concepts
Financial literacy is a fundamental life skill that helps individuals make informed financial decisions. Despite its importance, financial education is often overlooked in traditional school curricula. However, Zee Learn Ltd. has taken significant steps to change this through its Financial Literacy Programme (FLiP) at Mount Litera Zee Schools (MLZS). In an exclusive interview with The Pioneer, Manish Rastogi, CEO of Zee Learn Ltd., discusses how financial literacy is integrated into their curriculum, why it is crucial for students and the innovative methods they use to prepare young minds for the complexities of personal finance.
According to him, financial education should start early to ensure children develop responsible financial habits that last a lifetime. He believes that introducing children to budgeting at an early age helps them understand how to allocate money for different purposes, such as saving, spending, and sharing. To make these concepts practical, students participate in exercises like creating a budget for a small project or managing a limited allowance.
“The Financial Literacy Programme (FLiP) at Mount Litera Zee Schools started almost a decade ago and is one of our flagship programs. We have printed and digital resources for both learners and facilitators. The approach is friendly and functional, with the right mix of theory, activities, reflective journals, financial planning templates and case-based studies,” Rastogi explains.
Unlike many schools that follow CBSE’s recommendation of introducing financial literacy as a vocational skill in Grade 6, they begin financial education as early as Grade 4. The FLiP curriculum is designed to gradually introduce students to financial concepts in a structured and engaging manner.
Financial literacy at Zee Learn is not limited to basic money management; it is a structured program that helps students understand essential financial concepts in depth. As part of the curriculum, students participate in activities such as planning a birthday party or a family vacation within a specific budget. The program also ensures that students clearly understand important financial distinctions, such as the difference between needs and wants, saving and investments, money and wealth, assets and liabilities, active and passive income and deficit and surplus.
Rastogi emphasises that senior students at MLZS receive an introduction to financial markets, including stocks, mutual funds, systematic investment plans (SIPs) and real estate. These topics are seamlessly integrated into students’ daily vocabulary alongside conventional saving methods such as bank savings and fixed deposits. He believes that providing early exposure to these concepts ensures students develop a strong foundation in financial management, allowing them to navigate real-world financial challenges with confidence.
He firmly believes that financial literacy is more than just an academic subject—it is a crucial life skill that prepares students to make informed financial decisions throughout their lives. He sees schools as playing a vital role in shaping students’ financial habits and believes that it’s approach ensures students are empowered with financial knowledge without any commercial bias.
“Schools serve as the cradle of knowledge, offering a unique opportunity to instill financial values early on. We advocate for a curriculum that imparts practical financial skills without commercial intent. By introducing basic financial principles in schools, we empower students to navigate the complexities of an ever-changing economic landscape. Such knowledge fosters a sense of financial responsibility and resilience,” he says. By fostering financial literacy from a young age, they aim to develop well-rounded individuals who are capable of making sound financial decisions in the future.
To ensure financial literacy is not just a theoretical concept, the FLiP program includes engaging and interactive activities. One of the key exercises asks students to analyse their financial standing by answering three critical questions: “Where am I?”, “Where do I want to go?”, and “How do I get there?” Another module requires students to imagine a scenario in which they must save money for a course they plan to join in the future. These exercises encourage students to think critically about their financial goals and develop a plan to achieve them.
“In one of the MLZS FLiP modules, students analyze their financial standing, set future financial goals, and develop a plan to achieve them. They are also encouraged to create budgets for real-life situations, such as planning vacations or saving for specific needs. Storytelling, case studies and real-world scenarios help students develop critical thinking and problem-solving skills in finance,” he explains.
One of the most engaging aspects of the FLiP initiative is Culmination Week, which takes place every December. During this event, students apply their financial skills in a real-world setting by setting up stalls, creating and selling handmade artifacts and food items, earning money, saving their profits and donating a portion to charity. This hands-on experience helps students understand the principles of earning, saving and sharing in a practical and meaningful way.
“MLZS conducts, in December, a dedicated Culmination Week on the successful completion of the FLiP module for the year. During this week, Mount Literans set stalls, create and sell artifacts, food items, earn, save and share them with the needy,” he says.
Starting from the academic year 2024-25, financial literacy assignments and projects will be graded and included in students’ report cards, further reinforcing the importance of financial education. Additionally, students are introduced to entrepreneurial concepts, including the difference between a businessman and an entrepreneur, as well as how to set SMART (Specific, Measurable, Achievable, Relevant and Time-bound) goals.
They recognise the importance of incorporating digital tools and apps into financial education. In today’s technology-driven world, financial transactions and investments are increasingly conducted online, making digital financial literacy a necessity. The institution encourages students to use interactive digital platforms to enhance their understanding of budgeting, saving and investing. “In an era marked by rapid technological advancements, we encourage leveraging educational apps and online resources focused on financial literacy. Many interactive tools are designed to make learning about money engaging and accessible for children,” he explains.
However, while technology provides many benefits, Zee Learn also ensures that students are educated on the risks associated with digital financial transactions. Rastogi emphasises that students must develop a responsible approach to using financial technology to ensure their safety. “While exposing learners to technology and its benefits, we also ensure they understand the potential risks, especially when using digital platforms for money transactions,” he notes.
Financial education does not stop at school. Rastogi highlights the critical role parents play in reinforcing financial literacy at home. Zee Learn actively involves parents by encouraging them to have open discussions with their children about money, budgeting and saving. He believes that involving children in financial conversations at an early age helps them develop a responsible and informed approach to money management.
“Parents serve as the primary influencers in shaping their children’s attitudes and behavior towards money. We encourage them to have open and age-appropriate discussions about financial matters. Involving children in financial conversations helps demystify the topic and fosters a healthy attitude towards money,” he says.
Setting family savings goals is another practice they encourage, as it provides children with real-life demonstrations of financial planning. He believes that financial literacy should be a shared responsibility between schools, parents and society.
They remain committed to continuously evolving and expanding its financial literacy curriculum. He acknowledges that education is an ever-evolving process and that financial literacy programs must be periodically updated to reflect changing economic dynamics.
“Education is an ever-evolving process that needs periodic transformations, both from a micro and macro perspective. Our focus is core education—making our students global citizens while supplementing them with life skills like financial planning,” he shares.
Zee Learn plans to introduce new modules that will help students stay updated with financial trends and technological advancements.
