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PNN
New Delhi [India], December 23: "The foundation for a child's financial success is built today," says Rohit Gajbhiye, MD and Founder of LEO1. "Teaching kids the value of money, budgeting, and saving early on equips them with the skills they need to thrive in a complex financial world. The time to invest in their future is now, and the benefits will last a lifetime." Gajbhiye stresses the importance of starting financial education early, stating that the sooner we teach children how to make informed money decisions, the stronger their financial futures will be. The current financial landscape presents significant challenges for young people. From the rapid rise of digital payment systems to the ease of access to credit through buy-now-pay-later schemes, children today are entering adulthood with less financial knowledge than ever before. Research indicates that children begin forming financial habits as early as age seven, making it critical to instill sound money management practices before they encounter the complexities of the adult financial world. "We are raising a generation at risk of falling into a cycle of debt and financial instability," Gajbhiye warns. "If we do not act now to teach the next generation how to handle money responsibly, we will pay the price in the form of economic instability and personal financial crises." The consequences of delaying financial literacy are far-reaching. Poor financial habits, such as overspending, neglecting savings, and failing to make informed financial decisions, can result in crippling debt, a lack of financial security, and missed opportunities in life. "Young people today are exposed to constant spending pressure, from social media influencers showcasing consumer goods to mobile apps designed to make instant purchases effortless," says Gajbhiye. "This kind of environment makes it even more critical to start financial education early, teaching kids not just the mechanics of money, but the value of delayed gratification, budgeting, and long-term financial planning." At LEO1, Gajbhiye and his team are committed to changing the narrative by providing tools and resources to support parents and educators in teaching financial literacy. LEO1's platform equips families with the necessary resources to instill sound financial practices in their children. "We believe financial literacy is the key to unlocking a child's future success. The foundation for a stable financial future is laid in childhood, and we need to give children the tools to make wise financial decisions," says Gajbhiye. LEO1 offers innovative digital tools that make learning about money both engaging and practical. The platform provides age-appropriate lessons on budgeting, saving, investing, and setting financial goals. It also includes features that allow children to practice managing their own money, set savings goals, and learn the importance of delayed gratification. With the rise of digital payment systems, LEO1 is leveraging technology to bring financial education into the digital age. "By integrating financial education into a format that children understand and enjoy, we're ensuring that they are well-prepared to handle their financial futures with confidence," says Gajbhiye. The platform's emphasis on hands-on learning helps children better understand the consequences of their financial decisions. By managing allowances or setting financial goals, children gain practical experience in budgeting and money management. "It's not enough to just tell children about money," explains Gajbhiye. "They need to experience it firsthand, understand its value, and learn to make thoughtful, informed choices. Our platform creates an environment where children can practice managing money, make mistakes, and learn from those mistakes." Beyond basic money management, LEO1 also emphasizes the importance of social responsibility and philanthropy. By teaching children how to balance their financial goals with giving back to their communities, LEO1 helps instill values of empathy and social impact. "Financial literacy is about more than just saving and spending wisely," says Gajbhiye. "It's about understanding the broader impact of money and how it can be used to make a positive difference in the world." The urgency of financial literacy cannot be overstated. As technology continues to shape the way we interact with money, the gap in financial knowledge will only widen unless immediate action is taken. "By equipping children with the skills they need to navigate this complex landscape, we're giving them the tools to thrive in an uncertain economic future," Gajbhiye concludes. "The stakes have never been higher, and the time to act is now." LEO1 (Website): https://www.leo1.in/ LEO1 (Formerly known as Financepeer) is a pioneering Edu-fintech company, headquartered in Mumbai, established in 2018. The Financial SAAS is designed to resolve long pending cashflow issue for educational institutions through its comprehensive Financial SAAS platform. The company has partnered with over 31+ large institutions like Narayana, Jain Group, SAGE University etc. Around half a million students are benefitting from the LEO1 Financial SAAS solutions. Key modules include Rewards, Smart ID Cards, Fee Management, and Financial Literacy, collectively empowering institutions with simplified fee collection, enhanced transparency, and real-time insights. Notably, LEO1 incentivizes responsible financial behaviour by rewarding timely fee payments with LEO1 Coins. These coins can be redeemed across various brands for discounts and vouchers, aligning with the broader mission of making education more accessible by potentially rebating fees for students who consistently meet payment deadlines. This initiative contributes to the larger vision of fostering a cashless ecosystem within educational institutes, enabling timely cashflow and is also aligned with 'Digital India' initiative. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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