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By:

Quaid Najmi

4 January 2025 at 3:26:24 pm

Maulana’s 'gullak' initiative touches 60K students

Read & Lead Foundation President Maulana Abdul Qayyum Mirza with daughter Mariyam Mirza. Mumbai/Chhatrapati Sambhajinagar: In the new age controlled by smart-gadgets and social media, an academic from Chhatrapati Sambhajinagar has sparked a small, head-turning and successful - ‘savings and reading’ revolution among middle-school children. Launched in 2006, by Maulana Abdul Qayyum Mirza, the humble initiative turns 20 this year and witnessed over 60,000 free savings boxes (gullaks)...

Maulana’s 'gullak' initiative touches 60K students

Read & Lead Foundation President Maulana Abdul Qayyum Mirza with daughter Mariyam Mirza. Mumbai/Chhatrapati Sambhajinagar: In the new age controlled by smart-gadgets and social media, an academic from Chhatrapati Sambhajinagar has sparked a small, head-turning and successful - ‘savings and reading’ revolution among middle-school children. Launched in 2006, by Maulana Abdul Qayyum Mirza, the humble initiative turns 20 this year and witnessed over 60,000 free savings boxes (gullaks) distributed to Class V-VIII students in 52 government and private schools. “The aim was to inculcate a love for ‘saving and reading’ among young children. We started by presenting small plastic ‘gullaks’ (savings boxes) at the Iqra Boys & Girls High School, and later to many other schools,” Mirza said with a tinge of satisfaction. Scoffed by sceptics, it soon caught the eyes of the schools and parents who loved the idea that kept the kids off mischief, but gave them the joy of quietly slipping Re. 1 or even Rs. 5 save from their daily pocket money into the ‘gullak’. “That tiny ‘gullak’ costing barely Rs 3-Rs 5, becomes almost like their personal tiny bank which they guard fiercely and nobody dares touch it. At the right time they spend the accumulated savings to buy books of their choice – with no questions asked. Isn’t it better than wasting it on toys or sweets or amusement,” chuckled Mirza. A childhood bookworm himself, Mirza, now 50, remembers how he dipped into his school’s ‘Book Box’ to avail books of his choice and read them along with the regular syllabus. “Reading became my passion, not shared by many then or even now… Sadly, in the current era, reading and saving are dying habits. I am trying to revive them for the good of the people and country,” Maulana Mirza told The Perfect Voice. After graduation, Mirza was jobless for sometime, and decided to make his passion as a profession – he took books in a barter deal from the renowned Nagpur philanthropist, Padma Bhushan Maulana Abdul Karim Parekh, lugged them on a bicycle to hawk outside mosques and dargahs. He not only sold the entire stock worth Rs 3000 quickly, but asked astonished Parekh for more – and that set the ball rolling in a big way, ultimately emboldening him to launch the NGO, ‘Read & Lead Foundation’ (2018). “However, despite severe resources and manpower crunch, we try to cater to the maximum number of students, even outside the district,” smiled Mirza. The RLF is also supported by his daughter Mariyam Mirza’s Covid-19 pandemic scheme, ‘Mohalla Library Movement’ that catapulted to global fame, and yesterday (Oct. 20), the BBC telecast a program featuring her. The father-daughter duo urged children to shun mobiles, video-games, television or social media and make ‘books as their best friends’, which would always help in life, as they aim to gift 1-lakh students with ‘gullaks’ in the next couple of years. At varied intervals Mirza organizes small school book fairs where the excited kids troop in, their pockets bulging with their own savings, and they proudly purchase books of their choice in Marathi, English, Hindi or Urdu to satiate their intellectual hunger. Fortunately, the teachers and parents support the kids’ ‘responsible spending’, for they no longer waste hours before screens but attentively flip pages of their favourite books, as Mirza and others solicit support for the cause from UNICEF, UNESCO, and global NGOs/Foundations. RLF’s real-life savers: Readers UNICEF’s Jharkhand District Coordinator and ex-TISS alumnus Abul Hasan Ali is full of gratitude for the ‘gullak’ habit he inculcated years ago, while Naregaon Municipal High School students Lakhan Devdas (Class 6) and Sania Youssef (Class 8) say they happily saved most of their pocket or festival money to splurge on their favourite books...! Zilla Parishad Girls Primary School (Aurangpura) teacher Jyoti Pawar said the RLF has proved to be a “simple, heartwarming yet effective way” to habituate kids to both reading and savings at a tender age, while a parent Krishna Shinde said it has “changed the whole attitude of children”. “We encourage books of general interest only, including inspiring stories of youth icons like Nobel laureate Malala Yousafzai (28) and environmentalist Greta Thunberg (23) which fascinates our students, and other popular children’s literature,” smiled Mirza. The Maulana’s RLF, which has opened three dozen libraries in 7 years, acknowledges that every coin dropped into the small savings boxes begins a new chapter – and turns into an investment in knowledge that keeps growing.

Nine Financial Tips for a Prosperous Navratri

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As we approach Navratri, I wish you and your family a joyous and prosperous festive season. Festivals are a time of celebration, but they are also an excellent reminder to strengthen our financial discipline. To help you stay on track with your financial goals during this time, here are nine essential financial tips to ensure your journey towards financial freedom remains smooth and secure.


Build an Emergency Fund

Make sure you have at least six months of living expenses saved in a bank fixed deposit or a debt mutual fund. This reserve will serve as your emergency fund for unforeseen situations and ensures you are prepared for any rainy days.


Review Your Asset Allocation

Revisit your investments to ensure they align with your goals. For short-term goals within three years, bank fixed deposits, recurring deposits, or debt mutual funds are appropriate. For long-term goals beyond three years, a diversified combination of hybrid/equity mutual funds, direct equities, and gold should be preferred.


Do Sufficient SIPs

Systematic Investment Plans (SIPs) are the backbone of disciplined investing. At least 25-30 percent of your in-hand monthly income should ideally be invested through SIPs in mutual funds, equities, and gold. This consistent approach will steadily build wealth over time.


Make Lumpsum Investments

Along with SIPs, voluntary lumpsum contributions into long-term assets whenever you have surplus funds can accelerate wealth creation. Even occasional lumpsum additions make a significant difference to the overall corpus.


Increase Your SIPs Annually

As your income increases, make sure your investments grow as well. Increasing your SIP amounts every year helps your wealth stay in line with inflation and your rising lifestyle needs. Increase your SIPs yearly and anchor them to at least 30 percent of your monthly income.


Stay Invested

Remain invested until your financial goals are achieved. Avoid redeeming investments unnecessarily. Frequent withdrawals disrupt compounding. If liquidity is required, consider taking an overdraft loan against your investments rather than breaking them prematurely.


Health Insurance

Safeguard your family with adequate health insurance. Opt for a minimum cover of 25 lakhs per family member with comprehensive features. Remember that relying only on employer-provided insurance is risky. Independent health insurance is essential.


Term Life Insurance

Protect your loved ones with a pure term life insurance policy. Ensure a cover of at least ten times your annual income, along with provisions for any outstanding loans. Stay away from mixing insurance with investments. A simple term plan is the most effective solution.


Consult a Financial Advisor

A full-time, well-qualified financial advisor can simplify your financial journey. Professional guidance ensures disciplined planning, correct product selection, and proper execution of your financial strategy. 


Wishing you a financially secure, healthy, and prosperous Navratri. May this festive season bring abundance and lasting financial peace.


(The author is a Chartered Accountant and CFA (USA). Financial Advisor.  Views personal. He could be reached on 9833133605.)

 


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