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News From Press Generational shift in financial planning: Spending averse to cautiously indulgent

Generational shift in financial planning: Spending averse to cautiously indulgent

Source: Mint Jun 18, 2018

Bengaluru-based Amol Gupte, 53, couldn’t help but feel gratitude towards his father. Gupte worked in multinational finance firms for many years, and now works as consultant. His education in the US wasn’t easy to pay for. “My parents lived a narrow existence. Whatever my dad earned, he put it away to finance my education,” said Gupte. Did he also imbibe his father’s frugality? “My dad was extremely cautious to the extent of being averse to spending. I am cautiously indulgent,” he said. However, Gupte’s son, 22-year-old Tanay, spends easily. “He doesn’t think twice before spending, but he still doesn’t have a tablet or an iPhone. He says ‘when I need them, I’ll buy them’,” said Gupte.

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