IMS, Jammu recently organized an activity titled “The ₹30,000 Money Challenge”

The Institution Innovation Cell (IIC) at the Institute of Management Sciences recently organized an engaging and thought-provoking activity titled “The ₹30,000 Money Challenge” for MBA students of the 2nd and 4th semesters.

The activity involved students forming groups, each given a hypothetical monthly salary of ₹30,000. Their task was to plan a budget for the entire year, from January to December, considering essential expenses such as housing, food, transportation, savings, entertainment, and education. Out of this savings, they were required to save money for opening up a new business.

With only 15 minutes for budget planning, each group had to think critically and creatively to balance their spending and savings. The exercise aimed to teach the students the importance of financial planning, enabling them to achieve both short-term satisfaction and long-term goals. Following the planning phase, each group presented their budget plan, explaining their allocation of funds and the rationale behind their financial decisions. Later, they were also asked to explain which Means of Finance they will choose for setting up their new business.

Winners of the Activity

* First Position : Divyansh Partap Singh Chib and Rashi Kapoor (MBA 4)

* Second Position : Parvez and Harminder (MBA 2)

This activity helped the students showcase an excellent balance between necessary expenses and savings. It also highlighted the students’ ability to apply innovative thinking to real-world challenges and understanding various means of Financing available to them. This initiative reflects IMS’s ongoing commitment to fostering entrepreneurship and sustainability through its IIC Cell, positioning students as future leaders in green innovation. Dr. Meenakshi Sharma Director IMS and Er. Divya Jamwal, Coordinator, Management Dept congratulated the students for their enthusiasm and hoped for conduction of more such events.