EdTech Startup HolisQ has embarked on a mission to democratise financial education to the common man. The founder of the startup is a former investment banker Sourajeet Pradhani. According to him, financial literacy is not just about acquiring financial knowledge or information anymore; it is an essential ‘life skill’ to have. The objective of HolisQ is to make every individual understand the basics of financial education. Financial literacy will lead to financial inclusion, which in turn will lead to financial empowerment.
The primary target segment of HolisQ is children between the age of 12-16. There are three basic reasons for this; firstly, in the education curriculum across the globe, financial literacy as a distinct subject is rarely taught. Concepts such as coding, blockchain technology, etc. are incorporated in the curriculum, but not financial literacy. Mathematical concepts like Pythagoras Theorem, trigonometry, etc., are taught to kids, which may not be useful to them in their daily lives.
Secondly, the young minds of children are active and can absorb a lot of information. All the things that we have learnt in school, we still remember them vividly. Hence, financial literacy at a young age can help the kids develop this critical life skill. They may not be ready for the technical part of finance, but they would definitely grasp the basics and build upon it.
Thirdly, the advantage of incorporating financial education in the minds of the kids is to build strong habits at a young age. Habits, by nature, are difficult to let go. When we form a habit, our brain releases ‘dopamine’. It enhances the feeling of happiness and pleasure, which further strengthens the habit.
The vision of HolisQ is to reach out to every common man who lacks basic financial understanding like how to manage money, where to invest, creation of financial goals, etc.
Sourajeet belongs to the ‘sevayat’ community of Puri Jagannath Temple and is a well-known financial columnist and commentator.