Online Session on Basic Financial Literacy

On June 13, 2025 at 5p.m. the Semester II and IV students of the Department of B.Ed., Loreto College, Kolkata, attended an online session on Basic Financial Literacy which was organized by the Department of B.Ed., Loreto College, Kolkata. Mr. Soumyajit Banerjee, a senior product manager at Thomson Reuters was the Resource Person. The session aimed to equip participants with essential knowledge about managing finances wisely. The session covered a wide range of crucial topics, emphasizing the significance of saving, investing, and planning for a financially secure future.

The speaker began by underlining the importance of savings as the foundation of financial health. Saving regularly, even in small amounts, creates a safety net and builds the habit of disciplined money management. The discussion further progressed to the importance of investment-highlighting that savings alone are not enough to beat inflation or grow wealth significantly. Participants were introduced to various investment options like stocks, mutual funds, fixed Deposits, ETFs (Exchange Traded Funds) and Index Funds, bonds, and real estate.

The session also covered essential financial practices such as budgeting, emergency funds [Participants were encouraged to maintain a financial cushion to handle unexpected life events or crises without derailing their financial plans], The Power of Compounding, and Life Insurance and its importance.

The speaker concluded by reiterating the critical importance of financial literacy in today's world. He urged everyone to start saving and investing early, take charge of their financial future, and continuously educate themselves to make informed decisions. Financial freedom, he emphasized, is not just a goal but a journey of consistent learning, planning, and action.

The session ended with vote of thanks.