WHY FINANCIAL LITERACY IS ESSENTIAL TODAY: A VBS MUMBAI PERSPECTIVE

In today’s dynamic and fast-evolving economy, financial literacy is more than just a skill—it’s a critical tool for navigating life’s challenges and seizing opportunities. The PGDM course at Vivekanand Business School (VBS), Mumbai, empowers students with the financial knowledge needed to secure their future, achieve their dreams, and thrive in a competitive world. Whether you’re a student, professional, or entrepreneur, understanding finance is the foundation for personal and professional success.

Explore why financial literacy is the ultimate life skill in today’s economy. Learn how Vivekanand Business School in Mumbai empowers future leaders through its PGDM program with practical financial knowledge.

Why Financial Literacy Is the Ultimate Life Skill in Today’s Economy?

In today’s fast-paced economy, understanding money is no longer optional—it’s vital. Whether a student, working professional, or aspiring entrepreneur, financial literacy equips you to take control of your future. At Vivekanand Business School in Mumbai (VBS Mumbai), this vital skill is seamlessly integrated into the PGDM curriculum, ensuring that students are industry-ready and financially empowered.

Global Relevance of Financial Literacy

Financial literacy—knowing how to budget, save, invest, and manage debt—is a universal life skill. Yet, a 2023 National Financial Educators Council survey found that 65% of Gen Z feel unprepared to manage their finances. The implication is clear: the lack of financial knowledge can lead to debt traps, missed investment opportunities, and long-term insecurity.

At VBS Mumbai, the PGDM at Vivekanand Business School addresses this gap by embedding financial education into core and elective subjects, developing future-ready and financially wise students.

How Financial Literacy Changes Lives

✅ 1. Informed Decision-Making

Understanding financial concepts helps individuals:

• Avoid predatory loans and credit traps
• Evaluate investment opportunities
• Plan effectively for life milestones like home ownership or education

At VBS Mumbai, students learn through case-based learning, simulations, and courses such as Financial Management and Personal Finance, applying theoretical knowledge to real-life decisions.

✅ 2. Building Wealth Early and Sustainably

Take this case:

Priya began investing ₹5,000 monthly in a mutual fund at 25. By retirement, she had over ₹1 crore—all thanks to compound interest and informed financial planning.

Such outcomes are made possible through electives in Wealth Management, FinTech, and Investment Analysis, available under the PGDM in Mumbai at Vivekanand Business School.

✅ 3. Preventing Financial Pitfalls

Lack of financial literacy can result in:

• Overuse of credit cards
• Falling for financial scams
• Inadequate savings for emergencies

According to the 2024 Federal Reserve, 60% of Americans lack an emergency fund. VBS Mumbai combats this through practical workshops on budgeting, risk management, and fraud detection.

✅ 4. Turning Dreams into Achievable Goals

Finance isn’t just about wealth—it’s about freedom. Through proper budgeting and saving, students can:

• Launch startups
• Travel the world
• Buy their dream home
• Fund higher studies

Anil, a VBS Mumbai student, saved for his startup while servicing a student loan—thanks to the budgeting skills taught in the PGDM program.

The High Cost of Financial Illiteracy

Financial ignorance comes at a price:

• Living paycheck to paycheck
• Accumulating high-interest debt
• Missing out on investment returns
• Falling victim to scams

Vivekanand Business School in Mumbai recognises these challenges and empowers students to overcome them by building strong financial foundations in its PGDM curriculum.

How VBS Mumbai Promotes Financial Literacy

Here’s how students can build financial acumen with VBS Mumbai:

🔹 Master the Basics

Learn everyday finance skills—budgeting, saving, credit evaluation—through specialised courses.

🔹 Use Institutional Resources

VBS Mumbai offers access to:

• Financial market platforms
• Faculty-led mentorships
• Guest sessions by finance leaders

🔹 Practice Through Projects

Simulated environments and capstone projects enable students to apply knowledge to real-world problems.

🔹 Learn from the Best

Industry experts and VBS alumni bring practical financial insights to the classroom.

Why Choose Vivekanand Business School in Mumbai?

Enrolling in the PGDM at Vivekanand Business School is more than an academic choice—it’s an investment in your financial future.

Key Advantages:

• 📘 Industry-Aligned Curriculum: Covering topics from personal finance to sustainable investing and FinTech.
• 👩‍🏫 Expert Faculty: Learn from experienced professionals with deep domain expertise.
• 💼 Top-Tier Placements: Career roles in finance, analytics, consulting, and banking.
• 🌱 Holistic Growth: A strong focus on leadership and life skills, including financial literacy.

Final Takeaway: Empower Your Future with Financial Knowledge

Money touches every part of life—from daily decisions to long-term dreams. With the right education, anyone can master money rather than be mastered by it. At VBS Mumbai, students don’t just learn finance—they live it.

Ready to take control of your financial future?

Here’s how:

• 📚 Embrace Learning: Tap into VBS Mumbai’s rich curriculum and resources
• 💡 Apply Practically: Engage in projects, internships, and simulations
• 🎯 Align with Goals: Use finance to support your aspirations

Begin Your Journey with VBS Mumbai

Financial literacy is your gateway to personal freedom, professional growth, and lifelong success. It empowers individuals to break free from financial stress, build wealth, and pursue their passions. From avoiding debt traps to planning for retirement, the benefits of financial knowledge ripple across every aspect of life. In a world where money is a universal language, fluency in finance is non-negotiable. By embracing financial literacy, anyone can transform their life, turning dreams into reality and challenges into opportunities

Make the most of it by exploring the PGDM in Mumbai at Vivekanand Business School.

👉 Visit https://www.vbs.ves.ac.in to explore how the PGDM at Vivekanand Business School can help you thrive—financially and professionally.

Dr. Meena Sharma
Associate Dean, Finance