Personal finance and investing. Are Indians able to handle their finances

Personal finance and investing. Are Indians able to handle their finances 

Written by - Vishesh Katara

Personal finance is the financial management that an individual or a family unit performs to budget, save, and spend monetary resources over time, taking into account various financial risks and future life events.

Personal finance 

This topic has been in question why schools and education institutions aren't teaching the students about filling taxes, personal finance, or investing. Either they learn it on their own or have to pay an expert a CA (charted accountant) to handle their finances. In my opinion, it is a really important skill to know how to handle your own finances and knows how to invest and most importantly know how to full your taxes you have to know what 80c, 80d, and 80e stand for and do for example: 
80C - investing 
80E - interest in education loan
80D - medical insurance 
80G - donations
80GG- house rent 
These are the clauses that are used while filling ITR ( income tax returns) which help save your money 

INVESTING 

Investing in the stock market, ppf (public provident fund), mutual fund, and pension scheme are some of the places you can invest your money to get interested from which can act as your backup or a second income if you leave your job or get retired. But in India, if a teenager ever mentions to his parent about the stock market his or her parents have the same story of a relative who used to be really rich but went broke after losing all of their money in the stock market. This doesn't create interest in the topic but kills the urge to even try to learn what the stock market is 

I'm not saying people don't lose their money in the stock market many retail investors do lose money but only because of a lack of judgment on their side. Though the Indian stock market saw a surge of new Demat accounts opening. The percentage of people investing is still very low