The Financial Literacy Seminar, Budget Bytes’s first part, kicked off with a burst of energy and anticipation. Mr. Aqeel, the Chief Finance Officer of IEDC, welcomed everyone with an inspiring speech, setting the perfect tone for an insightful day ahead. Mrs. Rahmathuniza I, our esteemed guest, added her encouraging words, clarifying that financial literacy is a shared priority.
The main session, led by the knowledgeable Mr. Nikhil Karooth, was a treasure trove of financial wisdom. The 50-30-20 rule for budgeting captivated the audience, revealing how to allocate income wisely amidst the ever-present challenge of inflation. Mr. Karooth emphasised the importance of having multiple income streams—3 to 5 for those aiming for robust financial health.
A deep dive into investment options followed, spanning stocks, mutual funds, debt instruments, real estate, US equity, and gold, offering a plethora of strategies for diversifying one’s portfolio. The audience was particularly engaged during the discussions on inflation’s impact on purchasing power and savings, as well as the essential strategies for securing financial independence post-retirement. The comparison of fixed deposit benefits in small versus big banks provided practical insights for smart banking.
The seminar wrapped up with actionable steps toward achieving financial freedom, leaving the audience buzzing with newfound knowledge and optimism. Sahadiya M concluded the event with a heartfelt vote of thanks, recognizing the contributions of all participants and contributors.
Budget Bytes was a resounding success, equipping attendees with invaluable insights and practical advice on managing their finances. The journey toward financial freedom felt a little more achievable, thanks to the knowledge shared throughout the day.
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