Gen-Y Spends on Gadgets Rather than Financial Advice
This study of these two financial institutions also revealed that Indians are financially unsatisfied. Indians lack behind in their financial planning. They don’t even plan for a basic issue of inflation.
Value Notes says Indians might plan for a wedding but they are low on inflation awareness. Only 35-36 percent of the Indians accounts for inflation in their financial planning.
“The lack of financial freedom can be attributed to many factors - low financial awareness, inadequate planning and a general feeling that they need to do more to increase their financial sufficiency and adequacy,” states the report, as quoted by Afternoondc.in.
On the other hand, the people in their life don’t think twice before spending a huge lot of money on accessories, cosmetics, mobile phones and clothes.
