The youth of the country are now choosing to invest directly in the equity market instead of the mutual fund route. According to a report by Fin One, an initiative of fintech brokerage firm Angel One, 93% of young adults are prioritizing savings consistently, with a majority choosing to save 20-30% of their gross income every month.
Moreover, stocks are at the top as the investment of choice, with 45% of young investors preferring to invest in shares over traditional options like fixed deposits, gold. Currently 58% of young investors in the country invest in stocks, while 39% are giving priority to mutual funds. However, youth invest less in fixed deposits (22%) and recurring deposits (26%). Which shows a balanced approach between stable savings and high returns among the youth.
The report collected data on 1,600 young Indians from 13 cities across the country, including their saving attitudes, investment choices, financial literacy and use of technology and financial tools. The report also highlighted the use of digital platforms and technology, revealing that 68% of young people regularly use an automated saving tool.
High cost of living hinders savings for 85% of youth Despite having a disciplined savings habit, 85% of young Indians find the high cost of living, including food, utilities and transportation, a hindrance to their savings. Which shows that high cost of living is the biggest challenge for Indian youth.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
