Employability Skills Work Book

Job market research, primarily conducted through a process called a Market Scan, is a way to understand the ever-changing world of work and plan a career pathway effectively. Because the workplace is constantly transformed by technology—such as the shift from typewriters to computers—staying aware of these changes is essential for career growth.

Purpose of Job Market Research

Conducting this research helps individuals:

Legal literacy is defined as being aware of the protections given to citizens by the law,. It is considered essential because it helps individuals receive all the benefits the law provides and enables them to participate effectively in the legal process,.

Government Initiatives for Legal Literacy

The Government of India has established special initiatives to ensure its citizens remain informed:

A loan is money that you borrow from an individual or an institution, such as a bank, with the agreement that it will be paid back in smaller amounts over a set period of time. Borrowing money usually involves paying interest, which is essentially the price paid for borrowing and is typically expressed as a percentage. The total sum of money that a person still needs to pay back is referred to as their debt.

Types of Loans

Banks offer several specific types of loans based on the borrower's needs:

Savings is defined as an amount of money that is put aside rather than being spent. Understanding how money is saved is a core component of financial literacy, which helps individuals make wise decisions to achieve life goals and prepare for emergencies.

Salary is the regular payment that an employer agrees to pay an employee in exchange for their skills and time, typically following a monthly schedule. Understanding how salary is calculated and the legal protections surrounding it is a key part of financial and legal literacy.

Gross Salary vs. Net Salary

It is important to distinguish between the total amount promised and the amount you actually receive:

Online payments, also known as digital transactions, are financial exchanges done electronically without the use of physical cash. These transactions are a key part of the Government of India’s Digital India programme, which aims to transform the country into a "Faceless, Paperless, Cashless" society.

Common Methods of Online Payment

There are several ways to perform digital transactions:

Mobile banking apps are software applications provided by banks that allow you to perform financial activities on a smartphone or tablet. They are a key part of digital transactions, which are electronic money transfers that do not involve physical cash.

How to Set Up a Mobile Banking App

To begin using mobile banking, you must follow these general steps:

Online banking, also known as net banking or web banking, allows individuals to perform traditional banking activities through the internet instead of visiting a physical branch. Through these online platforms, users can open bank accounts, apply for debit cards, send money to others, and download bank statements to see their transaction history.

A bank is an institution licensed by the government to keep your money safe and provide loans. To access any banking services, you must first open a bank account, which can be done at a physical branch or via a bank's website.

Types of Bank Accounts

Understanding the different types of accounts helps you choose the right one for your needs:

Money management, or financial literacy, is the ability to manage your resources well by understanding how money is saved, spent, and invested. Developing a strong foundation in these skills helps individuals make wise decisions to improve their lives and achieve goals related to education, work, and retirement.

Understanding Expenses

To manage money effectively, you must distinguish between different types of expenses. The sources categorise them into three main groups: