Young Minds Learn Faster

It may sound strange but according to science young minds learn faster than adults. Yes! They are fast learner, actually better than the adults. According to a study, most sports have under-18 team and teams for adults as well. It is very interesting to discover that in most cases, young minds learned faster compared to adults who were also learning the same thing.

You might be wondering that how are teenagers able to learn faster in most of the cases than adults.

Kids learn faster than adults because the prefrontal cortex of the brain is more developed in adults than children. Prefrontal cortex of the brain is a place where working memory is stored.

The development of the prefrontal cortex enables adults to experience functional fixedness which makes adults see everything exactly as it is. For instance, an adult will see a golf club exactly as it is. In contrast, a child will see a broomstick as an arrow. The creativity of young minds is caused by lesser developed prefrontal cortex, which gives them the ability to be innovative. Young people have minds designed to learn, while adults have minds designed to perform.

This ability might help young students develop their understanding of finance while they are still young. It might be the best option for a parent to make their young ones try different activities related to money because it will directly help the coming generation to take right money related decisions later on in their life.

Young minds are like an empty canvas and this allows them to write their memory easily than a confused adult mind. To every young mind, a desire to learn is given by default. A young mind takes learning as a part of daily life, while adults see learning as a textbook. So, why not make our young generation financially literate when they can really learn faster?

As financial literacy is not emphasized in our current education system- most of the students lack the necessary knowledge and skills to become financially responsible adults. Schools can really play a vital role here by incorporating financial education in the syllabus.

Undoubtedly, financial literacy is a crucial life skill for the comprehensive development of every student. In the changing global economy, it has become mandatory that children should turn smart about the financial matters. To measure the level of financial awareness among school students, NCFE conducts National Financial Literacy Assessment Test (NFLAT) all over India.  

FinWin^TM  is an online gamified course content to help students achieve the best position in the NFLAT. The application of Learn-Apply-Succeed principle imparts the best financial literacy and ensures your way to success in an entertaining yet effective way.

To know more log on to http://indusleap.com/finwin/

History Of Money

The history of money boasts quite a fascinating past. Read on for a brief glimpse your wallet’s – financial history. The rupee in your pocket holds a long history of struggle and exploration that can be traced back to the ancient India of the 6^th century BC. Ancient Indians were the early issuers of coins in the world. The first Indian coins were minted back in the 6th century BC by the Mahajanapadas.

•    Then came the Mauryas who marked their coins with a royal standard such as rupyarupa (silver),  suvarnarupa (gold), tamararupa (copper) and sisarupa (lead).

•    Later, the Indo-Greek kings introduced the Greek tradition of engraving portrait heads on coins and this practice was followed for the next eight centuries by the following kings.

•    The Gupta Empire produced large numbers of gold coins depicting the Gupta kings performing various rituals and this tradition of engraved coins continued till the arrival of the Turkish Sultanate.

•    The arrival of Turkish Sultans changed the monetary system a lot. By the 12^th century AD, the Turkish Sultans of Delhi had replaced the various designs of the Indian kings with Islamic art. The Turkish Delhi Sultanate also attempted to standardize the monetary system by issuing coins of different values and calligraphy.

•    Later came the Mughals and they ruled India for a long time. The beginning of the Mughal Empire from 1526 AD brought forth a unified and consolidated monetary system for the entire empire.

•    When Sher Shah Suri defeated Humayun, evolution of the rupee occurred soon after he began ruling. Sher Shah Suri set up a new civic administration and he also issued a coin of silver, weighing 178 grains, which was termed the rupiya and was divided into 40 copper pieces or paisa. These silver coins remained in use during the remaining Mughal period.

•    It was the start of 17^th century when British arrived in India, they tried to introduce sterling pound. But, Sher Shah’s silver rupiya had already become the most popular standard currency in the country and was even exported as a currency to other British colonies.

•    In 1717 AD, the English got permission from Mughal emperor Farrukh Siyar to coin Mughal money at the Bombay Mint and paper money was first issued in British India in the 18^th century with the Bank of Hindostan, General Bank in Bengal and the Bengal Bank.

•    After the 1857 revolt, the British replaced the old native designs on banknotes and coins with the head of King George VI and made rupee the official currency of colonial India.

•    The Reserve Bank of India was formally set up in 1935 and it empowered to issue Government of India notes. 

•    A new ‘anna system’ was introduced on August 15, 1950. One rupee now consisted of 16 annas. The British King’s portrait was replaced with the engraving of Ashoka’s Lion Capital of Sarnath, and the tiger on the 1 rupee coin was replaced with a corn sheaf.

•    Newly independent India changed fast and the 1955 Indian Coinage (Amendment) Act, which came into force on April 1, 1957, introduced a ‘decimal series’. One rupee was now divided into 100 paisa instead of 16 annas.

•    Big changes in currency came in the year 1996 when the ‘Mahatma Gandhi Series’ was introduced with prominent new features such as changed watermarks, windowed security threads, latent images, and intaglio features for the visually handicapped. This was further replaced in 2005 by the ‘MG series’ notes for some additional security.

•    Since 2010, other commemorative coins have also been issued – 60^th anniversary of the Indian Parliament, the 150th anniversary of Swami Vivekananda, and more recently, International Day of Yoga.

Undoubtedly, money matters and financial literacy can really help us in using money sensibly.

For more information log on to http://indusleap.com/finwin/

#Succeed in NFLAT

Source: thebetterindia

Succeed in NFLAT with FinWin

What is NFLAT?

National Financial Literacy Assessment Test

Why take NFLAT?

Undoubtedly, financial literacy is a crucial life skill for the comprehensive development of every student. In the changing global economy, it has become mandatory that children should turn smart about the financial matters. To measure the level of financial awareness among school students, NCFE conducts National Financial Literacy Assessment Test (NFLAT) all over India.  Schools and parents must play their role in educating their children about the financial management, so that they avoid making financial mistakes in the future. It is better to start inculcating the habit of money management in children earlier, than to regret later. #Succeed in NFLAT

What is financial literacy?

Financial literacy is the ability to make effective and informed money management decisions using the financial knowledge and skills. Finance management is an important life skill for the holistic development of each student. It not only strengthens the foundation of the present generation about money matters but also affects the coming generation positively.

Why financial literacy?

Financial literacy is no rocket science to understand. It is just a life skill that we need to instill in the young minds of the students for their better future. Financially literate students are expected to make wiser decisions in the adulthood than a student who never heard about matter matters. 

“A penny saved is penny earned” should not be just used as an idiom, it should be the base of our finance matters.

What is FinWin^TM and why FinWin^TM?

FinWin^TM is an online gamified course content to help students achieve the best position in the NFLAT. The application of Learn-Apply-Succeed principle imparts the best financial literacy and ensures your way to success in an entertaining yet effective way.

FinWin^TM provides a context for engaging practice to students through its specially designed gamified module. Students develop a variety of connections with the content and can form positive memories of learning while playing a game related to financial education, hence, increasing their chances of hitting the bull’s eye.

FinWin^TM is the one and only course that allows the school coordinator to review each child's performance, thereby easing the task of improving the success rate of the school.

#Succeed in NFLAT

For more information log on to http://indusleap.com/finwin/

Why Online Gamified Course?

“I hear and I forget,
I see and I remember,
I do and I understand”

Educational games mirror the way the human mind is designed to learn. Games motivate players to take risks, take actions, accept failures, set difficult goals, devote attention, keep patience, and make efforts to acquire knowledge and skills. Isn’t it like what we expect from the traditional methods of education?

FinWinTM is an online gamified course designed to educate about finance and instill financial skills in the young generation. As educators and parents have realized the psychological impact of learning by gaming, this educational tool has become predominant. Educational games are a blend of knowledge, enjoyment, passion, involvement, motivation, and ego gratification. 

Sometimes the most annoying thing that often drifts away the students’ attention and concentration is the delay in the result. FinWin’s^TM gamified course produce instant results so as to maintain the academic flow of the student. This is where their focus comes into play because students try to make sure that they do things correctly next time and achieve the desired results in the game.

Games aptly increase focus and boost the confidence of students. FinWin’s^TM gamified course can really help them focus because they need to be patient before getting to the next level and achieving something. Students become more willing to learn about the topic as they engage more in the game. Every level they move up increases their confidence in their skills and knowledge.
We do not say that traditional teaching methods are not good enough to gain knowledge, but certainly, an online 24*7 cloud-based gamified course is much more effective and efficient.

For more information log on to http://indusleap.com/finwin/

The Concept of Learn Apply Succeed

FinWin^TM is an online gamified course content which ensures the best score in the NCFE’s National Financial Literacy Assessment Test (NFLAT). The tested learning process of Learn-Apply-Succeed imparts the best financial literacy to the students in the most entertaining yet effective way.

Cracking NFLAT was never so easy!    

FinWin^TM is based on the cloud platform and is available 24*7 to the schools and students. It helps you learn about all the 9 topics at one place and apply that knowledge in 19 different games. Other 12 exciting mock quizzes make you confident enough to crack NFLAT and confirm your success.

We believe “Don’t practice until you get it right, but practice until you can’t get it wrong” and FinWin^TM provides a context for engaging practice to students through its specially designed gamified module on the principle of Learn-Apply-Succeed.

Games really help children learn in many different ways which are more efficient than the traditional methods of teaching. Students develop a variety of connections with the content and can form positive memories of learning while playing a game related to finance; hence increasing their chances of hitting the bull’s eye by applying that knowledge.

Why do we fail to get the expected results despite learning a lot?

The simple answer is that we often fail to apply the learned knowledge and success becomes laborious. Always remember that smart work always pays back. While playing different online games by FinWin^TM, you will learn by applying the acquired knowledge. So, the time well spent playing games will ensure your success in NCFE’s- NFLAT.

Students with money managing life skill have a better future ahead and FinWin^TM is extremely committed to the mission of inculcating this valuable life skill in every single individual of India.

For more information log on to http://indusleap.com/finwin/

Importance of Financial Literacy

Financial literacy is the ability to make effective and informed money management decisions using the financial knowledge and skills. Developing financial skills to become financially literate is a long process which begins with something as simple as putting a little money in a Piggy Bank. The skill of money management evolves gradually according to the income, expenditure, loans, and asset allocation.

Money is the least talked about topic in a family; however, the base of any family is never complete without financial stability. Parents usually avoid talking about money with their kids, but the need of the hour is that we talk to our young ones about finance and make sure that they know how to handle the financial challenges and temptations. A teenager with some financial knowledge is more likely not to end up with regrets in the future.

Don’t you ever wish that it would have been fabulous if you could get the needed head start when you were young? So, why not make our young generation financially literate?

As financial literacy is not emphasized in our current education system- most of the students lack the necessary knowledge and skills to become financially responsible adults. Schools can really play a vital role here by incorporating financial education in the syllabus.

Here’s why schools should promote financial literacy:

1.    They don’t know enough

Most of the young people have little knowledge of finance and economics. They spend and borrow without knowing that money doesn’t grow on trees.

2.    There are greater temptations

The Internet has made it really easy to buy nearly anything online and when young ones are old enough to buy online, it becomes more important than ever to inculcate the habit of saving in them.

3.    They have more debt

It becomes a habit to spend lavishly until and unless starts earning and value the hard earned money. Often, it gets too late in realizing the value of money later on and they are already in debt. If a financial literacy program is implemented in schools and colleges, they could graduate with less debt.

4.    People are going bankrupt younger

According to a survey, almost every one in five Americans from age 18 to 24 declared bankruptcy. India is developing rapidly, probably faster than any other country and the USA sets a perfect example for us to fear the coming danger. 

5.    They start saving later

Today, it’s not uncommon for a student to start a stable career in their 30’s. Financial literacy can really help developing the habit of saving and investing during their school, it will encourage youth to get started earlier and avoid getting into trouble in the future.

6.    The government won’t always have their backs

It is highly likely that the next generation of retirees won’t cherish the same benefits as their parents are enjoying now. So, young people today need to save more and invest wisely if they want a comfortable retirement later.

India is known to have the most number of young people in the whole world right now. This simply means our future lies in the hands of our current generation largely. Financial literacy improves their personal financial decisions. It helps to make a choice about many of the critical issues confronting our nation and teach students the economic principles that will help them as a citizen. 

Despite this recognition, most money things are still not taught. The role of financial educator falls primarily on parents, guardians and teachers in the schools. Parents try to avoid conversations about money because they are unsure of where to begin and worried about saying the wrong thing. Even if the adults are not financial rock stars themselves, it is important for adults to remember that they have experience and perspective on their sides. It needs an effort right now from parents and teachers to secure the prosperous future of the coming generation.

For more information log on to http://indusleap.com/finwin/

Source: Allafrica.com