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099 - FINANCIAL PLANNING WORKSHOP BY DBDS

posted Jul 24, 2017, 10:15 PM by Don Bosco Development Society   [ updated Jul 24, 2017, 10:16 PM ]
Pune, 21st July 2017:
The Don Bosco Development Society (DBDS), Mumbai conducted a one day workshop for the staff of Door Step School Organization on the topic of “Savings, investments and Financial Planning.” The workshop was attended by 30 social workers who work in the field of education. Mr. Mahesh Kumar (Sr. Project Manager – DBDS) was the resource person for the same.

The workshop covered following 4 sessions:

1) Thumb rules on saving and investment, Ponzy Schemes

2) Time value of Money, interest rates, Compounding, Discounting

3) Investing in Small saving schemes to meet Financial Goals

3) Life insurance, risk cover, health insurance and investment in insurance products

4) Comparing returns from Gold, FD, Real Estate, Equity Funds etc

The workshop brought to the notice of participants the kind of financial discipline they require and plan they need to make to achieve their financial goals. In a world where inflation is eating away the purchasing power of money, it is necessary that savings are invested in an instrument which gives better returns. A small and regular amount invested in a right instrument will create wealth for the investor.

The session on small saving schemes gave them the knowledge of the various saving schemes run by post offices and how saving in these schemes can create wealth for them. The session on insurance gave them knowledge of the health insurance schemes and difference between risk coverage and investment in insurance. The workshop ended on a positive note as participants were motivated to start investing in small savings to meet their financial goals.