An interesting survey on financial planning of IndiansAn interesting survey has been conducted by Aviva Plan India relating to financial planning of Indians. Without going into the details of the survey, I am presenting some important findings from the survey. These are:-
(I) Young people in the age group of 25 to 29 are very conscious about financial planning and proper implementation. People in the age group of 30 to 35 comes second. Astonishing, Indian people in the age group of 36-45 are very poor in financial planning and implementation.
(II) Working women and educated housewives are catching up very fast with men in financial planning. (But in my own home, I can't feel this.)
(III) Very astonishingly, Indian couples without children are better in financial planningthan couples with child/children.
(IV) Financial planning is best among the residents of Bengaluru and Hyderabad. It is worst among the people of Ahmedabad (!) and Patna.
(V) Higher income doesn't always mean better financial planning and implementation.
The survey has brought into light various other interesting facts, one of which is that 81% of Indian parents can't properly estimate the future higher education cost for their child/children.
I invite Members to share their opinion on these findings of the survey.