The majority of the undergraduate students saved for vacations, trips with
friends and for purchase of clothing items such as watches, fancy clothes
etc. this group of respondents constituted 38.8% of the total respondents.
A very few number of respondents saved funds for future needs such
higher education, home and retirement. These group of respondent were
majorly master students and students who have just started working.
A project report on saving & Investment Patterns of Youth
submitted by Mr SHAHABAZ KHAN a student of BBA in Amity
University shows that youth’s need to learn techniques for early-age savings.
The Study also suggested that their should be curriculum in the course for student to
learn financial planing
What should be done ?
The Indian economy is the world’s seventh-largest economy by nominal GDP
and has achieved 6-7% average GDP growth annually. Youths constitute the
maximum percentage of population in the country and they are the backbone of
the nation and they are the one who is going to shape the future of the country.
Therefore it is important on the part of government to come up with some
policies or lucrative option for youths where they can invest their money
without any fear and strengthen the financial position of youths of the nation.
Until and unless youths are financially independent, it becomes very difficult
for them to contribute to the society. So youths should always think of 10 year
ahead and start working accordingly. Planning for own future is like giving a
hands-up to oneself. Understanding the benefit of saving and investing and
spending money wisely should be the need of each and every individual and
not want. These things can be promoted by using media where the presence of
youth is more active, i.e. Face book, Twitter, LinkedIn etc.
There should be a compulsory course of “Personal financial planning” to the
students of all the fields and should encourage them to start saving from early
stage of their life. Promoting young investor on various social media can
influence other youths to start investing. Youths need to get aware of the their
excess expenditure and should try to eliminate such expenditure.