Moodbidri: "Allocate money for essential expenses and control luxury spending, and a peaceful life is possible. Earning money is an art, but using it properly is the greater art," said financial literacy expert Sapna Shenai.
She was speaking at a special lecture on "Empowering Women through Financial Awareness," organized by the Moodbidri Inner Wheel Club and the Moodbidri Bunt's Women's Association, under the Women’s Wing of Alva’s Education Foundation - Saksham Platform, at the Kuvempu Hall of the college on Wednesday.
"We spend a lot of time earning and spending money. Most people live by the policy of 'Income - Expenditure - Savings,' but this can lead to increased financial stress. Instead, following the principle 'Income - Savings - Expenditure' leads to happiness and success," she stated.
Many people take loans to fulfill their capital needs. However, if loans are managed wisely, they can make life easier; otherwise, they may lead to financial difficulties. Among these loans, "productive loans" such as housing, education, and business loans help improve our future. On the other hand, "unproductive loans," such as credit cards, personal loans, and chit funds, can damage financial security. Hence, one should exhibit wisdom in money management, she advised.
The president of the event, Vivek Alva, trustee of Alva’s Education Foundation, emphasized that money management is life management. Proper money management can provide security in life. Financial literacy is not only about earning money but also about understanding the importance of managing it.
"In earlier times, our grandparents used to save money and store it. Now, banks handle that task. Last year, Saksham organized a program to raise awareness about mental health, and this year, it is commendable to organize a program to raise awareness about financial literacy among women. This organization should engage in more social activities in collaboration with various women’s organizations in society," he remarked.
This platform should not only respond to mutual happiness but also work towards addressing difficulties. Women make up 60% of the workforce, and their contribution to the growth of our education foundation is immense, he added.
The event was attended by Shobha S. Hegde, president of the Moodbidri Bunt’s Women’s Association; Bindya Sharath Shetty, president of the Moodbidri Inner Wheel Club; Dr. Greeshma Alva, administrator of Alva’s Pharmacy; Dr. Mookambika G.S., president of Saksham; and Dr. Kurian, principal of Alva’s College.
Dr. Archana Prabhat, head of the Department of Food Science and Nutrition at Alva’s Postgraduate College, served as the moderator, while Dr. Deepa Kottari, director of Alva’s Wellness Training Center, introduced the guest. Awareness programs were conducted for the teaching and non-teaching staff and students in two sessions.