A survey done by Scripbox, an online financial distributor reveals that 80% Indians have realized importance of fixing their financial health post the pandemic.
Further, one in every three respondents said that their biggest concern post the pandemic is keeping good financial health. Changes in consumer behaviour have translated into more savings and investments with a higher preference to seek professional advice on these matters. 51% of investors began saving more than before while 36% of respondents are investing more for improving their financial wealth.
Owing to the uncertainties, 53% of Indians prefer parking their excess funds in savings accounts/fixed deposits whereas 47% opt for mutual funds. While evaluating various investment avenues, 37% of respondents choose mutual funds, followed by stocks (24%), Gold (24%), cryptocurrency (14%) and buying property (14%).
The findings reveal creating an emergency fund is on the top of financial priorities across genders. Healthcare and children’s education is the next important goal for men and women, respectively.
In a press release issued, Atul Shinghal, Founder and CEO, Scripbox, said “Our survey respondents confirm that alongside saving more and investing for wealth creation, reducing discretionary spending and creating an emergency fund are what they are paying more attention to, to be better prepared in the new normal. In addition, while traditional means of saving are still popular, it is heartening to see an increased preference for robust investment options like mutual funds over trading.”
The survey was conducted digitally for World Savings Day 2021, which is celebrated on October 31. Nearly 650 respondents took part in the survey with equal participation from men and women. The survey aims at creating awareness of the importance of saving & investing while decoding investor behaviour & sentiments.
