By Ms Sunita D’Souza for BIS Mumbai

On Saturday, August 2, 2025, the staff members of St Joseph’s High School, Wadala assembled in the school hall for a special session titled ‘Empowering Teachers Through Financial Literacy’ from 9 a.m. to 11 a.m. The Principal, Fr Solomon Rapol warmly welcomed the resource person, Mr Cajetan D’Souza, a renowned past pupil of Don Bosco, Lonavla. Tr Nivetha Silva introduced him to the gathering with a welcome address. He brings with him a wealth of experience and wisdom, with over 28 years of teaching experience. He has mentored and guided countless students in Marketing, International Business, Strategy and Finance. Through the wisdom acquired during 35 years of rich entrepreneurial experience, Mr D’Souza shared his financial expertise and urged the staff members to focus on KASH – knowledge, ability or attitude, skills and habits, which are instrumental in shaping a safe and secure financial futuristic goal.

The staff members were enlightened about the difference between needs, wants and demands (what we can afford). They reflected on their income and expenditure which encompass their assets and liabilities.

With rapt attention, the staff members tuned in to every word spoken by Mr D’Souza, as he shared his own experiences and that of his family members as well, who benefitted greatly by ‘making the right choice’ in profitable investments. Ensuring a secure and fulfilling future through ‘passive income’ which is the recurring income from assets like rent or dividends, emergency funds, liquid funds, reverse mortgage, etc. is the need of the hour. With his bright smile, Mr. Cajetan facilitated active participation from all the staff members.

He concluded the session with a quiz highlighting the concept of ‘Rich Dad versus Poor Dad’ referring to learning how money works and investing in assets. He made the session interesting through the thought-provoking ‘financial literacy’ discussions leading to the message – instead of ‘making hay while the sun shines’, let’s ‘save enough money for a rainy day’.

The learning outcome of the session was understanding key financial literacy concepts like the ‘budgeting method of 50-30-20 rule’ referring to needs, wants and savings based on the monthly income account. The takeaway thought was ‘Pay Yourself First’ implying the importance of saving a portion of income before spending. Saving is considered the first step towards financial independence.

At the end of this fruitful session on financial literacy, Tr Placida Manuel proposed the Vote of Thanks. Empowered with ‘financial literary’, the staff members are now ready to take a step ahead in the right direction of financial independence.