Why is financial literacy still one of the most overlooked life skills?
Answer: Nithyakumar V P said financial literacy receives limited attention because schools and colleges have packed academic schedules, while many parents do not actively teach children about money management. He stressed that financial education should begin at an early age.
What are the three financial concepts every student should learn before starting a career?
Answer: He recommended mastering budgeting, understanding the power of compounding, and learning the difference between appreciating and depreciating assets, along with good and bad loans, to build long-term financial discipline.
How can students identify reliable financial advice on social media?
Answer: Nithyakumar advised students to use social media for financial education but avoid making investment decisions based on online stock tips. For personalised investment advice, he recommended consulting qualified and accountable financial advisors.
Why should students start investing early, even with small amounts?
Answer: Starting early allows the power of compounding to work over a longer period. He noted that even small, regular investments can create significant wealth over time and reduce the financial burden of investing later in life.
How is FinSmiles making financial education more engaging for students?
Answer: FinSmiles uses gamified learning, virtual investing, interactive videos, simulations, and group activities to help students understand budgeting, investing, and wealth creation through practical experience.
How will Artificial Intelligence change personal finance in the future?
Answer: He said AI will simplify budgeting, expense tracking, financial planning, and investing, but it cannot replace qualified financial advisors when making important financial decisions.
What is Nithyakumar V P's most important financial habit for students and young professionals?
Answer: He encouraged students to pause before making purchases, distinguish between needs and wants, prioritise saving before spending, and develop the habit of reading quality personal finance books to make better long-term financial decisions.
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