YOUNG people are often confronted with complicated financial decisions in today’s demanding financial environment, and financial mistakes early in life can have opportunity costs. They are not aware of the basics of saving and investing. To be able to cope with such situations in a better manner, they need better financial education and access to critical resources in order to make smarter decisions.
In order to inculcate the youth with basic understanding of saving and investing, efficiently managing their finances and cope with tough financial decisions, the Lahore University of Management Sciences social enterprise development centre in collaboration with Citi Foundation has launched a Citi-Youth project ‘Living Literacy, Changing Lives: Citi-LUMS Youth Initiative’.
As a part of the project, the LUMS-SEDC held a three-day workshop, ‘National Financial Literacy Workshop for Youth’ with the LUMS-National Outreach Programme (NOP) students that concluded on Sunday.
A series of interactive lectures were given during the course by LUMS’ Prof Dr Zeeshan Ahmed to a group of 55 students.
These students were from different cities of Pakistan with varying socio-economic backgrounds that added diversity. The NOP
recruits deserving candidates with weak financial background from all over Pakistan. The students are given a proper training and an opportunity to study at LUMS with a full scholarship.
At the workshop, students learnt the basics of the balance sheet and the income statement, learnt about investment opportunities and budgeting and took some realistic examples through interesting case studies. —