Gen Z saving for home, Gen X for retirement

Chennai: Did you know that 65% of Indians, who save, begin saving or start investing well before the age of 30? 2026 has been an year of uncertainty, with the RBI projecting consumer price inflation (CPI) of 5.2% for FY27. While markets are gradually gaining stability, a latest survey by YouGov, commissioned by Stable Money in the context of the recent World Savings Day revealed how Indians save, what they save for and where they put their money into?The survey revealed, while Gen Z is saving for a home (26%), Gen X is more focused on retirement (35%). It also showed that nearly half of women savers (56%) call the shots on household money. Mutual funds and fixed deposits are neck and neck at the top: 23% pick MFs first and 21% pick bank FDs and RDs.Interestingly, between the morning commute and the evening scroll, Indians are doing what their parents once did at the bank counter: putting money away, albeit digitally - 80% of Indian savers have gone digital. “Indians always had the habit of saving. That is intact. Today it lives on the phone,” says Saurabh Jain, co-founder, Stable Money.Among women, there is a growing sense of financial independence, thanks to greater access to information via digital platforms. “Research and analysis which was earlier largely provided only by professionals such as financial advisors is now accessible at their fingertips through smartphones, further democratised by AI tools empowering women to compare financial products, assess returns and make more informed investment decisions on their own,” says Nalinakanthi V, partner, SowSampadh Partners, a Chennai-based mutual fund distributor.The report also showed that about 19% prefer fixed income to savings account, and 11% would rather reduce debt, so 87% would invest, save, or pay down debt with it. Only 13% would spend it: 8% on travel or an experience and 5% on a luxury purchase.You use AI every day. Now get your AI Quotient. Take the AIQ test.