Money And The Young: It Is Time To Take Charge
The Morning Standard|September 20, 2021
There is something about Gen Z, the age group of people born on or after 2000. The pandemic has left them with no choice but to learn to adapt.
Raja Skelkar

A youth study in India has been aptly titled ‘Atmanirbhar by Circumstance’ by MTV, a music channel owned by the US-based Viacom group. They interviewed over 26,000 people in the age group of 15-25 years from 50 Indian cities. These answered 185 questions covering topics such as education, money, romance, and national interest.

For the sake of this column, we will focus on the attitude of the young generation towards money and work.

The findings show that making money in quick time dominates the thought process of most of these youngsters. As many as 46 per cent of them said that money is all that matters. That is up from 21 per cent in 2019, according to the study. That, perhaps, explains the dramatic surge in stock market trading and Demat accounts over the past two years. For years, the number of Demat accounts languished around 2.5 crores. Over the past two years, that has jumped to 7 crores. Most of those in financial services attribute that to the presence of youngsters. The study reaffirms that these youngsters intend to make money quickly.

The study finds that most youngsters are opportunistic and are looking to diversify their bets. They cannot put all eggs in one basket anymore.

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