Indian Millennials Aim for Financial Freedom: Study Highlights Aspirations

A recent study highlights that home ownership, entrepreneurship, and financial independence top the long-term goals of Indian millennials. Conducted with 8,000 individuals, it showed significant aspirations among young adults to buy homes, with notable differences between genders. The study also emphasizes the demand for tailored financial solutions.

A new study reveals the ambitious long-term objectives of Indian millennials, highlighting home ownership, entrepreneurship, and financial independence as key goals. The study surveyed 8,000 individuals, largely under the age of 30, finding that a substantial segment aspires to own homes, with single women notably more keen than men.

The 'Fibe-Millennial Upgrade Index' further exposes the contrasting short-term goals, including professional growth and personal improvement. Interestingly, metro-residing millennials are under pressure to secure better jobs due to heightened competition.

Akshay Mehrotra, co-founder & CEO of Fibe, underscores the need for specialized financial products to support these ambitions. He notes that while millennials pursue credit options for short-term aspirations, family expenses and lack of financial planning pose significant challenges.