The need for Personal finance training to college students brought Principal Mutual Funds and Money-Wizards to roll-out personal financial education initiative christened Youth Money Olympiad (YMO).
YMO will reach out to over 100 colleges across all state capitals. The entry is by invitation only and top institutions are being invited for this educational rollout.
Personal finance is a life skill and the subject will be taught as it is not covered in formal education.
YMO will be administered as a personal finance assessment test in the multiple choice question format among students. The quiz will help students evaluate their personal finance quotient and simultaneously benchmark their financial IQ against their peer group. The objective is to create greater awareness amongst the youth of India about savings and investments and prepare them for the rest of their working lives.
As per Rajan Ghotgalkar, managing director, Pnb Asset Management Company and country head -India, Principal International Inc, They are happy to partner with Money-Wizards for this unique but very important initiative. YMO underscores Principal’s commitment towards investor awareness and education and we are confident that this initiative will benefit more students in the coming years.
The Youth Money Olympiad is India’s largest and first financial literacy initiative targeted at college students. Over the next few years, we expect the YMO to be available to colleges across tier II and tier III towns and cities- Venkatesh Varadachari, co-founder and director, Money Wizards.