Beyond Money Management: A Contextual Framework for Strengthening Financial Literacy among Rural Students in India

Beyond Money Management: A Contextual Framework for Strengthening Financial Literacy among Rural Students in India Author: Ali Kamal (12TH Commerce Student S.S. DEV PUBLIC SCHOOL) Research Paper Type: Conceptual Research Paper Abstract Financial literacy is an essential life skill that enables individuals to make informed decisions about saving, spending, borrowing, and managing financial risks. For rural students in India, financial literacy is particularly relevant because their understanding of money develops through school education, family experiences, local economic activities, and exposure to digital financial services. However, access to financial services does not necessarily ensure the ability to evaluate financial choices or recognize financial fraud. This paper develops a conceptual framework for strengthening financial literacy among rural secondary and senior secondary students. Drawing on existing literature on financial education, student learning, and financial inclusion, it proposes the Rural Student Financial Capability Framework (RSFCF). The framework integrates five dimensions: financial knowledge, money-management skills, digital financial safety, family and community learning, and informed decision-making. The paper recommends experiential teaching methods, including budgeting exercises, price comparisons, simulated banking activities, and locally relevant case studies. It also proposes research questions and indicators for evaluating future interventions. As a conceptual study, this paper does not report primary survey findings or establish causal relationships. The framework provides a foundation for future empirical research and the development of context-sensitive financial education programmes in rural India.