Kashmir is facing a serious jobs crisis. Recent government data shows that youth unemployment in J&K has touched about 17.4%, much higher than the national average of 10.2%, and overall unemployment is around 6–7%.This means thousands of educated young boys and girls are sitting at home, waiting for a government job that may never come. Families feel hurt, frustrated and confused about their future.
In this situation, financial literacy is not a luxury; it is a basic survival skill. The Reserve Bank of India (RBI) and other bodies clearly say that people must understand savings, interest, loans, risk and digital banking to protect themselves and use the system properly. They have created simple guides, posters and messages to teach citizens how to save, borrow carefully, use UPI and avoid Ponzi schemes.SEBI, the market regulator, also warns people to stay away from “guaranteed high return” schemes and to always check if an adviser or product is properly registered and regulated.
The law expects us to read what we sign; if we do not understand money, we carry the risk.
For Kashmiri youth, the first step is to face job reality. Not everyone will get a government post, and many will need to create income through skills, self-employment or small business.
Here, money skills become as important as degrees. A young person who understands basic planning—how much they earn, how much they spend, how much they can save—will take better decisions about work, migration, business and further study.
The second step is to save first, even if the amount is small. RBI’s financial education material stresses the power of simple, regular saving and the idea that small habits today reduce big money stress tomorrow.
A student who saves a fixed amount every month in a bank or simple regulated product learns discipline and builds a safety cushion. This habit is far more powerful than waiting for a big one-time income.
The third step is to avoid scams. SEBI clearly explains that investors must be careful of anyone promising fast or assured returns, asking for cash, or pushing people to invest without proper documents.
Many frauds use emotional language, social pressure and even religious or community links to trap innocent people. In a place like Kashmir, where unemployment is high and emotions are strong, this danger is even bigger.
Basic checks—Is this scheme regulated? Is the adviser registered? Are returns realistic?—can save a family from years of regret.
The fourth step is to invest wisely. National financial education booklets advise people to set clear goals, understand risk, and spread their money instead of gambling on tips or rumours. For Kashmiri families, this may mean balancing traditional assets like land and gold with simple, regulated financial products such as bank deposits, mutual funds and pension plans, chosen with proper advice. These products come under clear rules and give access to complaint systems and legal protection.
When youth understand these options, they can slowly build wealth even if their income starts small.
RBI and national financial education bodies have also created special content for school children, small entrepreneurs and self-help groups, showing that money education must start early. If Kashmiri parents and teachers begin to talk openly about budgeting, saving, safe digital payments and consumer rights, our children will enter adult life better prepared than we were. They will know how to read a basic agreement, how to question unfair charges and how to use formal systems instead of falling into informal traps.
Conclusion: From uncertainty to control
Kashmir’s youth did not create the unemployment numbers they are living with, but they can decide how prepared they will be in this tough environment. Financial literacy will not create instant jobs, but it will give young people and families control over what they can control: how they earn, how they save, how they avoid scams and how they invest for the long term.When every home in Kashmir treats money education like a basic life lesson—along with faith, values and school learning—our youth will be less helpless and more confident. Step by step, decision by decision, they can turn a time of crisis into a journey towards dignity and a safer financial future.
About the author:
Irshad Mushtaq is the founder of M I Securities, Munawar abad, Srinagar, and an AMFI‑registered mutual fund distributor (ARN‑47504) since 2004. He works as a personal finance columnist and financial educator, focusing on bringing simple, disciplined investing and market awareness to investors in Kashmir and beyond. He can be reached at [email protected], Contact No : 9906518342
