Suraj Parajuli and Kumar BK

We have realized that understanding personal finance is very important. Everyone needs to know and analyze their expenditure and income details to meet personal financial goals. When we were informed about the Personal Finance session, We were very excited and eager to learn. Our learning has been limited to the college classrooms and exam papers and this was one of the few opportunities to observe real-world applications of financial theory and instruments.

It was a wonderful session for us and there was a lot of eagerness to learn It was a virtual meeting. There were two sessions in all. Dev sir led the entire session. The first session covered the fundamentals of personal finance, including an overview of Nepal’s tax system, the importance of a personal account number (PAN), and several engaging tasks. Dev sir had demonstrated the magic of compounding. The demonstration confirmed the value of investing and the long-term benefits of doing so. That also motivated me to save the money and thrive it into investment. The discussion about “Inflation” was also interesting. We could also learn about the fundamentals of saving and investing, such as bank savings, fixed deposits, insurance, stock market, and mutual funds, among other things. Dev sir also discussed the significance of a personal financial record and its implications. The commitment to keeping a personal finance record, insights into investment tools, and the 50-30-20 norms of personal budgeting were the most important takeaways from the session.

The “Bean exercise” was most interesting and fruitful. The participants were given a total of 20 beans to distribute to various categories such as accommodation, food, transportation, recreation, and so on. It was rather perplexing for us to distribute it. Finally, our individual self-reflection led us to distribute funds according to priorities and make the best use of financial resources. It was also about learning from the experiences of other participants

The second session focused on investment tools and techniques in the context of Nepal. Dev sir discussed the Employee Provident Fund and Nepal’s Social Security Scheme. That was quite beneficial. He responded to participation fellows’ questions understandably. He also discussed debentures, public debt, mutual funds, and the Initial Public Offering (IPO). We had the opportunity to learn more about the Nepali stock market. Before the session, we were frequently perplexed as to what Price Earning Ratio (PE ratio), Earning Per Share (EPS), Net Profit Value (NPV), and other business terms meant. When Dev sir described these concepts using real-world examples, it helped us understand them better. He also mentioned several factors to think about before making a stock market investment.

The workshop was also interactive. Other participants were also discussing things. The use of examples to explain these financial phrases helped us understand them better. Another basic but important thing that we learned were the advantages of saving at a younger age. There was an excel-sheet about compounding that helped us learn it’s magic.

The session as a whole was fascinating and productive. Following the lesson, most of the participants have started keeping track of their finances.

We want to express our gratitude to Dev sir and the entire Samaanta family for this.