Middle Class – Is Savings Compulsory or Optional

Majority of the people in India are categorized under middle class segment

. Therefore, the chances of fulfilling their requirements are undoubtedly low. If we look at the current scenario, the people who are serious about their future are forced into savings! Savings for their loved ones future, to purchase a new home, to buy a new car, for my retirement, and the list goes on and on. Some people who are well settled in their lives are also forced into finance (to take loan). So there is no doubt that person who is still struggling, will definitely have to take loan to fulfill his requirements. In India, Majority of the people are involved in purchasing a house for themselves as soon as possible. Some who is well bless with lot of money, buys the house at ease, some who cant afford to buy rent it, others take home loan from banks to help them finance in getting their home of choice. Almost everyone is stuck in debts after availing loan. Not only Indian people are in debt but India itself is under tremendous amount of debt. Financial institutions in India has made a huge impact on the people by providing their services. Today, people search online over the web for better deal. You just apply and you get a call within a second from the service provider to whom you have applied for! Due to ease at availability of loan, there isn't any scope for savings for future. One hand comes and the other hand goes.........

Middle Class Is Savings Compulsory or Optional

By: Bharat Prajapati

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