Zerodha CEO Nithin Kamath says these money basics should be taught in schools

Zerodha CEO and Co-founder Nithin Kamath.

Zerodha Chief Executive Officer Nithin Kamath has often stressed on the importance of starting financial journeys early. He believes schools should teach students money basics just like they make them thorough in formulas.

In a tweet on Friday, Nithin Kamath shared a video of BJP MP Tejasvi Surya highlighting in parliament that many young Indians were not equipped with financial management skills.

"We don't have financial literacy as part of the formal school education," Surya in the clip. He added that if students were taught basic financial skills in schools and colleges, they will be able to plan their lives better and steer clear of fraudulent schemes.

Surya urged the education ministry to consider making money management a part of school and college syllabi.

Kamath supported the argument, and volunteered to help the ministry.

"I still remember the formula for the area of a circle or that CH3OH is Methanol from school," the Zerodha CEO said. "Similarly, If we taught finance basics in school, like why start investing early, inflation, insurance, retirement planning, etc. These lessons will be helpful throughout life."

I still remember the formula for the area of a circle or that CH3OH is Methanol from school.
Similarly, If we taught finance basics in school, like why start investing early, inflation, insurance, retirement planning, etc. These lessons will be helpful throughout life. 1/2

— Nithin Kamath (@Nithin0dha) December 16, 2022

Other Twitter users agreed with him.

"Basic accounting and financial knowledge is must even such awareness will make them stop (youngsters) from investing in ponzi tokens and schemes," read one comment.

Another said: "It's important for individuals to take the initiative to educate themselves about personal finance, but it would be even better if these concepts were formally taught in schools."

Kamath had spoken to Moneycontrol last month about the things first-time investors must keep in mind.

He suggested starting with safer options like fixed deposits.

"I say that if you are young and don't know about stock markets, mutual funds, etc, the idea is to start off with a bank deposit," Kamath had said.

He added that savings should begin early, but if possible, one should also spend on experiences that will help them grow.

"If someone likes music, they can go spend on a good teacher, try to learn music," Kamath added. "If someone wants to get into fitness, find a good trainer."

Read: Just started earning? Zerodha’s Nithin Kamath has this investing advice for you