I still remember the first class of my MBA finance course. Stressing on the importance of our chosen stream of specialization, our professor had said “One who studies finance need not know about HR, IT or marketing, but even those who study or will make a career in the above mentioned areas will still have to be financially literate to be able to manage their finances efficiently.
13 years later and after spending more than a decade in the area of financial planning and wealth management, I realize how true these words are. Especially today, when investors have to deal with a very complex and sophisticated financial market and are spoilt for choice- If they want a loan, not only do they have to compare interest rates, but also different kind of loan products; similar is the case with other products like life insurance, savings, pension etc. The increased life expectancy makes it all the more important to choose the right investment product which can sustain you through the long retirement years. And to top it all, the sales oriented wealth managers and mutual fund agents- who are ready to take advantage of gullible/ ignorant investors and sell them products which give them higher incentives, rather than benefit the client.
One really does not have to spend a great deal of time or money to get financially literate. Here are some ways in which people from non-finance background can enhance their knowledge in the areas of finance and investing.
The revolutionary internet offers all the required information at the click of a button. Please see the previous post on useful websites following this link-
Many training and learning institutes hold workshops and one or two day learning programs on various areas of finance from time to time. One can attend these by paying the specified fee.
Short term certification courses
For those who are keen to learn the basics through self study and can spare the required time, NSE offers various certification courses on subject like stock markets, debt markets, mutual funds, derivatives etc. One can get the study material after paying the fee, and give the exam on the scheduled date. On getting the minimum marks, a certificate is awarded by NSE. For more information, please visit their website- http://www.nseindia.com