This book is essential for anyone seeking financial freedom through disciplined financial education. This comprehensive book is designed to equip readers with the knowledge and skills to make confident financial decisions, ultimately leading to financial independence.

Financial literacy is the cornerstone of financial well-being, and this book emphasizes the importance of becoming financially educated. The rapid development of financial technology (fintech) has made financial education more critical than ever, enabling individuals to navigate the expanding financial landscape effectively.

The book is structured into comprehensive units, each focusing on key aspects of finance, from personal financial planning to understanding the stock market.

This book aims to provide undergraduate students with the foundational skills needed to become financially sound. Authored by an experienced educator and researcher in personal finance, the book draws on years of teaching, research, and practical experience.

The Present Publication is the 2^nd Edition, authored by Prof. (Dr) Amit Kumar Singh and Dr Rohit Kumar Shrivastav, with the following noteworthy features:

• [Simple, Systematic & Comprehensive Explanation] The subject matter is presented in a simple, systematic method and a comprehensive explanation
• [Examples from the Real-life World] is included to ensure relevance for learners
• [Student-Oriented Book] This book has been developed keeping in mind the following factors:
  • Interaction of the author/teacher with their students in the classroom
  • Shaped by the authors’/teachers’ experience of teaching the subject matter at different levels
  • Reactions and responses of students have also been incorporated at different places in the book

The structure of this book is as follows:

• [Learning Outcomes] Each chapter begins with learning outcomes to give brief context about the content and what the readers will achieve after the successful completion of the chapter
• [Main Text] Various concepts and topics have been explained in simple and lucid language
• [Examples & Cases] are added to enhance readers understanding
• [Practice Questions] Each chapter provides a list of questions to test the readers’ knowledge. Readers can answer these questions to review their learning
• [Activities] The benefit of learning finance concepts cannot be enjoyed unless applied to real-life situations. Thus, each chapter offers activities for readers to ensure learning by doing

The detailed contents of the book are as follows:

• Financial Planning and Budgeting
  • Financial Literacy
    • This chapter introduces the basics of financial literacy, emphasizing its importance in everyday life. It covers fundamental concepts that lay the groundwork for understanding personal finance and making informed financial decisions
  • Financial Planning
    • This chapter provides detailed insights into effective financial planning strategies. Readers will learn to set financial goals, create plans, and manage their finances to achieve long-term objectives. The chapter also covers various tools and techniques for effective financial planning
  • Financial Budget
    • This chapter guides creating and managing a financial budget. It includes step-by-step instructions on how to track income and expenses, allocate resources, and maintain a balanced budget. Practical tips and real-life examples help readers understand the importance of budgeting in financial management
• Banking Services
  • Introduction to Banking and Banking Services
    • This chapter overviews the banking system, and the various services banks offer. It covers the role of banks in the economy, types of banking institutions, and the range of services they provide to individuals and businesses
  • Banking Products and Services
    • This chapter examines different banking products and services available to consumers. It includes detailed descriptions of savings accounts, checking accounts, loans, credit cards, and other financial products. Readers will learn how to choose the right banking products to meet their needs
  • Cashless Banking
    • This chapter focuses on exploring cashless banking systems and their benefits. It discusses the rise of digital banking, mobile payments, online banking services, and the advantages of moving towards a cashless economy. Practical tips on how to use cashless banking services safely and effectively are also included
• Financial Services from Indian Post Offices
  • India Post Payments Bank
    • This chapter highlights the services offered by India Post Payments Bank. It covers the financial products available through the postal system, including savings accounts, payment services, and government schemes. The chapter also discusses the role of India Post in promoting financial inclusion
• Insurance Services
  • Life Insurance
    • This chapter covers life insurance products is provided in this chapter. It explains the different types of life insurance policies, their benefits, and how to choose the right policy. The chapter also covers the importance of life insurance in financial planning and risk management
  • Insurance Products
    • This chapter provides an overview of various insurance products and their benefits. It includes health insurance, property insurance, vehicle insurance, and other types of insurance. Readers will learn how to assess their insurance needs and select appropriate coverage
• Stock Market
  • Basics of Securities Market
    • This chapter briefly introduces the basics of the securities market, including key concepts and terminologies. This chapter covers the primary and secondary markets, stock indices, stock exchanges, derivatives, shares, and mutual funds. It provides a foundational understanding of how the stock market operates and its role in the economy.