How to Manage Personal Finance

The How to Manage Personal Finance session, held on 23 November 2025 at EDC Institute, Sammanthurai as part of GEW 2025, equipped students with essential financial literacy skills needed to make smart, confident, and responsible money decisions. Organized by ICST University Park and conducted by MIM. Arham, the session focused on helping young individuals build strong financial awareness and long-term discipline. 

The session began by clearly defining financial literacy and explaining how everyday financial choices shape long-term stability. Students explored the core pillars of personal finance—budgeting, saving, spending wisely, planning, and managing income effectively. They learned how understanding the balance between income, expenses, and savings helps prevent unnecessary financial stress. Practical examples made these concepts relatable and easier to apply in real life. 

A major highlight was the discussion on needs vs. wants, which helped students recognize how mindful spending supports healthier financial habits. The facilitator emphasized conscious decision-making and encouraged students to track expenses to gain a clear understanding of their financial behavior. Students also explored the real-life consequences of common financial mistakes such as impulsive buying, peer pressure spending, and lack of planning. 

Participants were introduced to practical financial tools including:

• Budget sheets & expense tracking apps
• Emergency funds
• Goal-based saving plans
• Basic financial planning methods

Students practiced creating simple monthly budgets and learned how long-term goals education, career growth, investments can be achieved by consistent saving and structured planning. 

The Impact Report insights reinforced how the session improved students’ confidence and motivation in financial management. Students became more aware of financial discipline, responsible decision-making, and how small habits lead to big results over time. The session empowered them to view personal finance as a foundation for independence, opportunity, and long-term success. 

How to Manage Personal Finance …

By the end of the workshop, students left with a clear understanding of personal finance and the tools needed to manage their money wisely. The session successfully encouraged them to take control of their financial future with confidence, responsibility, and long-term vision.