Now Reading: Gen Z Indians spend 70% of salary on bills and groceries
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Gen Z Indians spend 70% of salary on bills and groceries
Young Indians in the Gen Z cohort are far more frugal than their social media personas suggest, with a new study showing they spend 70% of their monthly salary on just five…
The Story in Brief
Young Indians in the Gen Z cohort are far more frugal than their social media personas suggest, with a new study showing they spend 70% of their monthly salary on just five core categories. The analysis, conducted by SalarySe using over 5.2 lakh salaried users’ UPI transactions, found the largest chunk goes to bills and subscriptions (20.1%), followed by groceries (15.7%), financial services (12.2%), shopping (11.9%), and food (11.5%).
Travel accounts for only 5% of spending, while digital entertainment subscriptions are a firm priority. The study also reveals that as Gen Z workers age from the 18-23 bracket to 24-29, essential spending rises from 50% to 59% of their budget, but they protect their discretionary spending at exactly 32%. Piyush Bagaria, co-founder of SalarySe, said the generation manages its financial life through a digital-first ecosystem.
The Indian Opinion
The narrative that Gen Z is a spendthrift, YOLO generation chasing luxury and travel is contradicted by the bank statements themselves. The stereotype persists because of curated Instagram feeds and viral tweets, but the data shows young Indians are grounded in the same basics as their parents: rent, groceries, and subscriptions. The real test will be whether this discipline survives when disposable incomes rise, or if the lifestyle creep finally shows up on the UPI trail.
Source: livemint.com
This story was synthesised by AI from the source linked above.
