New Delhi: While the pandemic forever changed the definition of what is deemed ‘normal’, it also brought to focus the unpredictability of life and the importance of saving up for a rainy day. Million of people around the world suffered sudden job losses or financial instability, making it abundantly clear that it is always good to have some extra cash in the bank. In India especially, children’s marriage is on top of parents mind when it comes to saving money. But things are changing it seems. Also Read - Good News: Private Sector Employees Soon to Get 8.5% Interest on Their Provident Fund Savings
With the same question in mind, Rohit Chadda- CEO Digital Publishing for Zee Group- recently conducted a Twitter poll asking users what do they save their hard-earned money for? Given the Indian society’s primary structure, desi parents are expected to look after their children till they’re financially stable. The societal trend demands that parents save money for marriages, upbringing and education of their offspring. But surprisingly, it was not children’s marriage that was on top of parents agenda when it came to saving money.
Take a look at the poll results where it was asked: What is it that you save your money for? Is it for your children’s education or wealth building or rather unseen emergencies?
Nevertheless, saving money is one of the essential aspects of building wealth and having a secure financial future.
Surprisingly, over 37 per cent of the voters chose child education as the main reason they would be/were saving money for. Wealth building was the second most important reason people would save. Children’s marriage was at the last with hardly 4 per cent people citing it a reason to save money.
From rescuing you from the uncertainties of life to giving you ample space to have a quality life, controlling unnecessary expenses goes a long way. So, start today and go save that penny!