Monthly Money Management

The Centre for Academic and Professional Support (CAPS), Christ (Deemed to be University), Pune Lavasa Campus, conducted an engaging and highly practical awareness session titled “Monthly Money Management.” The session was aimed at empowering students to understand the value of financial literacy, responsible budgeting, and mindful spending key life skills that contribute to both personal well-being and professional preparedness.

The session drew an enthusiastic audience comprising undergraduate and postgraduate students, with a majority from the School of Law, and participation from other disciplines such as Commerce, Business Studies, and Data Science. This cross-disciplinary mix fostered a dynamic exchange of ideas and experiences, as students brought unique perspectives to financial management based on their academic and personal contexts.

The facilitator began the session by initiating an open dialogue with the question, “How many of you have ever run out of money before the month ended?” The laughter and raised hands that followed immediately set a relatable and interactive tone. This question served as a bridge to highlight that financial challenges are universal, regardless of background or income, and that awareness and planning are the true foundations of financial independence. The core of the session revolved around three essential dimensions — financial principles, life lessons, and practical application.

In the first segment, the facilitator introduced students to key financial principles such as the importance of distinguishing between needs and wants, and the process of building a monthly financial plan. Simple yet effective budgeting frameworks such as the 50/30/20 Rule, Zero-Based Budgeting, and the 70/20/10 approach were explained using relatable student examples such as managing online subscriptions, and social spending. Students were made to realize that financial management does not depend on income level but rather on the discipline to allocate funds wisely.

The second segment emphasized life lessons and financial ethics, using real-world examples of well-known personalities like Warren Buffett, and Ratan Tata. Their stories illustrated how consistent habits, modest living, and long-term thinking shape financial success. For instance, Buffett’s approach to living below his means, Tata’s philosophy of purposeful spending underscored that financial wisdom is deeply tied to self-awareness and values. Students were encouraged to internalize these lessons, linking them to their own academic and personal journeys.

The third segment focused on hands-on financial practice. A specially designed Student Monthly Budget Template was introduced, allowing students to apply budgeting concepts in a real, structured format. The facilitator demonstrated how to input income and expenses, differentiate between planned and actual amounts, and visualize results through automatically generated charts and graphs. This tool enabled students to understand where their money goes, and how small changes could have a significant impact on their monthly balance.

To deepen the learning experience, students were given a “30-Day Budget Tracking Challenge.” They were asked to track all personal expenses for one week initially — including small daily spends like tea, snacks, and online orders — and continue the practice for an entire month. The goal was to help them cultivate a habit of mindfulness in money usage, transforming theoretical awareness into measurable behavior. Students were motivated to record every transaction using either the Excel template.

During the discussion, the facilitator highlighted common financial traps faced by students including impulsive spending, peer-pressure expenses, and subscription overload and offered actionable strategies to overcome them. Students were also introduced to the concept of “Pay Yourself First” — saving a small portion of income before spending on anything else. Students were encouraged to see money management not as a restriction, but as a life tool that provides confidence, control, and peace of mind. 

The session successfully bridged financial principles and personal development, creating an environment of curiosity, reflection, and empowerment. The feedback from participants was positive, with many describing the session as eye-opening and relevant to their current stage of life. They appreciated the simple explanations, relatable examples, and practical templates that made financial management seem achievable and even enjoyable. Monthly Money Management session served as an awareness session combining theoretical knowledge, real-world context, and hands-on application. It enabled students to recognize that small, consistent financial habits today can lead to long-term independence, confidence, and stability.