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Savings continue to be important to Indian households with 1 out of 2 Indians putting aside between 10-30% of their income on a regular basis towards building an emergency corpus, reveals a survey done by online investment platform, Scripbox.
The survey shows that 30% respondents chose building an emergency fund amongst their top 2 financial goals this year, similar to 2021. This is followed by retirement planning and children’s education at 27% each.
The survey also highlights the difference in the way men and women choose financial goals. Saving for children’s education has emerged as one of the top two priorities for 36% women. While men continue to invest more than women, the survey shows that the amount invested by women has doubled in the last 4 years. Interestingly, men are starting to focus more on retirement planning (42%) over children’s education (28%).
Nearly 27% of the survey respondents claim that they have reduced their spends in the last year. 50% are saving between 10% and 30%. In terms of investments, 23% of respondents have started actively investing in the last year and 20% of existing investors have made further increments.
Mutual funds have emerged as the #1 financial investment instrument in the country, says the survey. Overall, Scripbox has covered over 620 adults across the country for this survey.
The online platform manages AUM of Rs.12,500 crore.
