Why not on a saving spree?

Laying aside

But are the young as conscious about saving as the older folk or do they spend till it gets over? Is saving on their agenda at all?

Metrolife spoke to a few youngsters and asked them if they were in the habit or saving. Many said it was close to impossible to save. They loved the freedom and adventure that money afforded.

Sujith Krishnaiah, an entrepreneur, says, “Today, most youngsters don’t know the meaning of the word ‘saving’. They want to explore more and when you have that on the agenda, saving becomes pretty difficult. I have not started saving as yet because I value my adventurous life more then a secure one.”

Abhishek Iyengar, a techie, has a different opinion altogether, he says that it is a misconception that the young don’t save. “We have to save in these times because the young today is a lot more ambitious and passionate about things than the older generation. I need money to support my unconventional dreams and my parents are definitely not going to support me when it comes to fulfilling them. We also save. Our spending habits may differ in terms of things we splurge on,” he adds.

Soundarya PR, a BCom student says saving from the money that the parents give for your day-to-day expenditure is close to impossible. “Saving is important but how does one save when everything is so expensive,” says Soundarya who spends mostly on clothes and food. Her monthly budget easily crosses Rs 5,000.

Soumya Narayan, a student of engineering says that she does manage to save some money out of what her parents give her. “My main goal every month is to try and ask my parents as little money as I can,” she says.  Giving a word of advice to the younger generation C N Kumar, a retired company secretary says, “It is essential to consult your elders before taking any major financial decision as they have a lot of experience when it comes to money matters. Youngsters  should learn to save and invest, it is essential for a comfortable life.”