Do I Really Need To Save Money?

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Whether you become an expert trader on etoro or just learn how to budget properly, saving and gaining money is an essential part of life. From saving up for personal projects to travelling, youth have diverse ideas on what to spend their money on. The idea at one point of time, was to get a job, hold on to it for dear life and put aside as much money as possible for a ‘secure’ future.

But as Bob Dylan crooned, the times are changing, and the youth today have very different ideas on what to do with their hard-earned money. Some people choose to get cash from prepaid Visa debit card whilst others work hard at their side hustle to save for a house or holiday. No matter what you do with your personal finances, you can spend your money however you want. Here are what some young people spend their money on :

Nilambita Dey puts this trend in perspective. ” I think people of my age group are more likely to spend money on clothes and weekends at night clubs and restaurants. The desire for peer approval seems to pervade our adolescence and youth”.

“Acting cool and keeping up with the latest fashion improves acceptance in the community. Often, we find ourselves lacking in confidence and not measuring up to societal standards,” she said.

“It is very important to invest money, because life is a roller coaster.” Says young entrepreneur Shreekant Shelke.

“Each and every investment if made correctly are tend to grow fruit. I have been investing from the age of 22, and today I see my future set to face any problem” he adds. There’s no limit to the number of investments someone can make, whether it’s buying shares in a company or using the stock market to trade, every investment counts. With youths, using bitcoin era (bitcoinera.app/it/) to invest in cryptocurrency seems to be a popular route of investment as it’s an unregulated form of money. Of course, before investing, investors need to do their research into the variety of cryptocurrencies available so they can use one best suited to their investment. Plus, thanks to articles like this article here, it’s relatively easy for someone to make an investment using cryptocurrency whether it’s a small investment or big.

“Checking out the newest restaurants in town and catching up on the latest movies is money well spent” Aarti Deshmukh, Web Designer.

Aarti who lives with her sister says, she eats out at-least three to five times a week “I have to try all the new restaurants and most of my money is spent on such recreation. Another chunk is pocketed by Uber and autorickshaw drivers while the rest is distributed for rent and other such trivia,” says Aarti.

“It’s not that I don’t intend to have savings, I just haven’t got around to that yet,” she adds with a laugh.

At the same time, a game developer, who wishes to remain anonymous, invests almost 90 per cent of the considerable amount he earns back into his own upcoming game project.

“We’re working on a large scale production that involves some complex technologies, and are hoping to release it by next year. Since this kind of work essentially requires a large budget, I take whatever I get from my other projects and pump it into this one” he says.

Ameya Chauhan, a MBA who works with a financial consultancy, enjoys the peace of mind that money in the bank gives him

“I try and put aside something every month so that I don’t have to panic when the need arises.

Of course that might mean skimping and struggling a little at the end of the month, but the reward is well worth it in my opinion. It gives me the freedom to make decisions with the knowledge that I have a financial safety net,” he says.

“Travelling is an experience she is willing to sacrifice some comforts for” says Anshita Pandit, PR executive.

“I read a lot of blogs on how people save money and travel across India and the world, and that got me to start putting aside a sum every month. The idea is to plan budget trips whenever possible.

For me, each trip is a different experience, and it becomes even more special when you fund it yourself,” she says.

Their intentions are many, and far removed from what was the norm a few years ago, but today’s youth know what they want and do not hesitate to work towards their goals. It’s been half a century since Bob Dylan sang his song, but the times, they have indeed changed…

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#All views expressed in this article are those of the individual respondents and Pune365 does not necessarily subscribe to them.

Ankita Malekar

Ankita Malekar

A talkative tiny speck in the world of Media, with an itch for travel and paws.
Ankita Malekar

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