Lala Lajpatrai Institute of Management

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Workshop on “Financial Quotient”

Lala Lajpatrai Institue of Management in association with ICICI bank organized the workshop on “Financial Quotient” on 21st February, 2025 at 4pm to 6pm at Seminar Hall.

Convenors of the Events: Dr.Suresh Suvarna, Dr.Kinjal Shah and Dr. Neetu Singhwal.

Speakers of the Events:  Mr. Subbaiya Raman and Mr. Ubed Shaikh from ICICI Bank.

The Financial Quotient (FQ) workshop aimed to equip participants with the necessary skills and knowledge to manage their finances effectively. The workshop provided insights into the importance of developing a strong financial mindset, understanding key financial concepts, and making informed financial decisions. It targeted individuals who wanted to gain better control over their personal finances and improve their financial literacy.

 Objectives of the Workshop

The primary objectives of the workshop were to:

 To define Financial Quotient (FQ) and its role in personal finance management.

 To introduce key financial concepts like budgeting, saving, investing, and debt management.

 To provide practical tips for improving financial decision-making and planning.

Financial Literacy and Core Concepts

This session delved into the core concepts that make up financial literacy:

  • Budgeting: Techniques to manage monthly expenses, understanding the importance of tracking income and expenditure, and setting up a realistic budget.
  • Saving: The significance of saving for emergencies, retirement, and specific goals, alongside various saving options like fixed deposits, savings accounts, etc.
  • Investing: A brief introduction to investments and investment products such as stocks, bonds, mutual funds, and real estate. The discussion emphasized risk management and the importance of diversifying investments.
  • Debt Management: Understanding different types of debt (credit card debt, student loans, etc.), strategies for paying off debt, and how to avoid common financial pitfalls.

 Financial Behavior and Mindset

The second session focused on developing a healthy financial behavior and mindset. Topics covered included:

  • How emotions influence financial decisions.
  • The psychological barriers to good financial habits, such as fear of investing or reluctance to track spending.
  • Strategies to build positive financial habits, such as automated saving and setting financial goals.
  • The importance of seeking financial advice and guidance when necessary.
  • The retirement plan with reference to age group.

The Financial Quotient workshop proved to be an enriching experience for all attendees. It not only raised awareness about the importance of financial literacy but also provided participants with actionable tools to improve their financial decision-making. The workshop’s emphasis on both knowledge and behavior change was appreciated, and it is expected that participants will continue to benefit from the skills and insights they gained in the long run.

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Sign up to get application tips, explore student stories and find out about our latest events.

Lala Lajpatrai Institue of Management in association with ICICI bank organized the workshop on “Financial Quotient” on 21st February, 2025 at 4pm to 6pm at Seminar Hall.

Convenors of the Events: Dr.Suresh Suvarna, Dr.Kinjal Shah and Dr. Neetu Singhwal.

Speakers of the Events:  Mr. Subbaiya Raman and Mr. Ubed Shaikh from ICICI Bank.

The Financial Quotient (FQ) workshop aimed to equip participants with the necessary skills and knowledge to manage their finances effectively. The workshop provided insights into the importance of developing a strong financial mindset, understanding key financial concepts, and making informed financial decisions. It targeted individuals who wanted to gain better control over their personal finances and improve their financial literacy.

 Objectives of the Workshop

The primary objectives of the workshop were to:

 To define Financial Quotient (FQ) and its role in personal finance management.

 To introduce key financial concepts like budgeting, saving, investing, and debt management.

 To provide practical tips for improving financial decision-making and planning.

Financial Literacy and Core Concepts

This session delved into the core concepts that make up financial literacy:

  • Budgeting: Techniques to manage monthly expenses, understanding the importance of tracking income and expenditure, and setting up a realistic budget.
  • Saving: The significance of saving for emergencies, retirement, and specific goals, alongside various saving options like fixed deposits, savings accounts, etc.
  • Investing: A brief introduction to investments and investment products such as stocks, bonds, mutual funds, and real estate. The discussion emphasized risk management and the importance of diversifying investments.
  • Debt Management: Understanding different types of debt (credit card debt, student loans, etc.), strategies for paying off debt, and how to avoid common financial pitfalls.

 Financial Behavior and Mindset

The second session focused on developing a healthy financial behavior and mindset. Topics covered included:

  • How emotions influence financial decisions.
  • The psychological barriers to good financial habits, such as fear of investing or reluctance to track spending.
  • Strategies to build positive financial habits, such as automated saving and setting financial goals.
  • The importance of seeking financial advice and guidance when necessary.
  • The retirement plan with reference to age group.

The Financial Quotient workshop proved to be an enriching experience for all attendees. It not only raised awareness about the importance of financial literacy but also provided participants with actionable tools to improve their financial decision-making. The workshop’s emphasis on both knowledge and behavior change was appreciated, and it is expected that participants will continue to benefit from the skills and insights they gained in the long run.

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