Understanding Financial Well-Being

This course, led by Dr. M.V.S. Kameshwar Rao, Associate Professor at XIMR, Mumbai, provides a comprehensive understanding of financial well-being and wealth management. The course explores key concepts such as goal setting, resource management, and the evolution of financial systems. Participants will learn the fundamentals of financial wellness, including future freedom, present security, and future security, while focusing on how to generate, preserve, and grow wealth effectively.

The course covers a wide range of financial topics, including:

• The Foundations of Financial Well-Being: Understanding the core concepts of financial wellness, including financial freedom, security, and the importance of a long-term perspective.
• The Evolution of Financial Systems: A historical perspective on how resource exchange and the need for record-keeping gave birth to the concept of accounting and wealth management.
• Key Financial Jargon: Definitions of essential terms such as money, capital, investment, savings, insurance, income, expenses, and debt.
• Measuring Financial Well-Being: Methods for assessing your financial health, including tracking income, expenses, savings, wealth, and loans.
• Wealth Generation, Preservation, and Growth: Strategies for creating wealth through value-adding activities, preserving wealth through low-risk investments, and growing wealth to beat inflation.
• Managing Financial Risks: Understanding how insurance and liquid assets play a crucial role in managing financial risks and ensuring long-term stability.
• Financial Well-Being in Practice: Practical examples from both frugal and affluent families to demonstrate how financial well-being can be measured and interpreted.

Through engaging lessons and practical insights, this course equips participants with the knowledge to assess their financial health, make informed decisions, and implement strategies to protect and grow their wealth for a secure and prosperous future.