80% of Indians admit to Covid-19

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While 34 percent of men picked healthcare as their next important financial goal, 38 percent of ladies would love to line aside money for children’s education.

In step with the findings of the Scripbox Survey for World Savings Day 2021, 80 percent believe that Covid-19 has been a heavy take-heed call for them, to urge their finances so as and to course-correct for better financial health.

On behalf of World Savings Day (celebrated globally on October 31st), Scripbox came out with its report on the brink of creating awareness on the importance of saving and investing which can create a virtuous circle with lifelong benefits.

The report states 28 percent of girls are smarter investors today than before the pandemic, compared to 26 percent of men respondents, who assessed themselves similarly.

Experts say both men and girls acknowledge the role of the pandemic in it had changed their behavior vis-à-vis saving and investing.

The report states the positive behavioral change with personal finance is obvious within the actions that survey respondents are taking.

51 percent have begun to save quite before, while 36 percent of respondents are investing more in wealth creation to boost their financial health.

Women are complementing their increased savings with reduced discretionary spending, an action backed by 29 percent of ladies respondents.

While 20 percent say they need a plan in situ to satisfy their personal goals, 15 percent are seeking professional help with investment decisions.

Given the uncertainty, the survey states Indians are preferring to stay in excess money in their savings accounts or Fixed Deposits, followed by investing in Mutual Funds.

37 percent of respondents prefer mutual funds as their preferred investment choice, followed by stocks (24 percent), Gold (24 percent), Cryptocurrency (14 percent), and buying property (14 percent).

The survey confirms that alongside saving more and investing for wealth creation, reducing discretionary spending and creating an emergency fund are what they’re paying more attention to, to be better prepared within the new normal.”

He further adds. “In addition, while traditional means of saving are still popular, it’s heartening to determine an increased preference for robust investment options like mutual funds over trading.”

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