India’s millennials (a.k.a. Gen Y) believe in living life to the fullest. They are gradually evolving into the prime wage earners in the households. Besides, they contribute around 70% of their salaries to the overall household income.

Yet, it is crucial to assess how much earnings are nestled into the savings. As per Deloitte's report, the millennials in India are saving less than 10% of their total income, living a paycheck-to-paycheck life. The modern generation thrives on living a lavish life. However, it is important to spend wisely, save and invest for generating wealth, and plan finances for the future.

Monthly Expenditure of the Millennials in India
The millennials look forward to enhancing their quality of life; thus, their expenditures are also a bit hefty. Usually, they spend around 29% on monthly necessities, 16.7% on education/college, 13.5% on other utilities, and 12.4% on personal grooming. Besides, 10.7% and 6.55 are spent on the discretionary lifestyle and property rent or EMI.

How much do millennials save out of their income?
On average, millennials save around 10 to 11.2% of their total income.Moreover, the savings would also depend on the lifestyle, family size, and other inevitable responsibilities.The millennials living on their own in other cities spend a considerable part of their income on rental accommodations.


Investment and Earning Pattern of the Indian Millennials
Millennials are fortunate enough to have an array of channels through which they can manage and make money. As a result, it has become swifter for the modern generation to spend, save, and invest conveniently. Generally, the millennials earn through regular jobs, upskilling, and freelancing. Undeniably, the financial requirements of the millennials are evolving rapidly, and so is their habit of money-making. 
Typically, 1/3rd of the Indian working millennials like to invest their money in instruments with zero risk, such as recurring and fixed deposits. The remaining population of millennials is gradually inclining towards the share market, SIPs, and a relatively volatile & risky asset class, digital financial assets.

The evolution of the investment landscape in India has made millennials more conscious of money-making. There has been a huge retail influx, particularly millennials is pretty evident from the surge in Demat accounts opening statistics. Further, there are a variety of financial assets that yield profitable returns and are being widely chosen by the youhUnlisted shares and early-stage investment opportunities are yet another asset class for long-term investments and wealth creation. Investopia is a marketplace to start the early-age investments in the growing stages of a company with a vision to democratize retail participation in the unlisted space.