Indian millennials step up wealth management strategy

Millennials are improving their wealth management services to prepare for future contingencies, according to the Millennial Mood Index 2021 survey report by CASHe, an AI-driven financial wellness platform.

According to the survey, over 84% of millennials across India said they have stepped up their wealth management strategies in a bid to prepare for future situations, while looking at opportunities for stronger and sustainable growth in the post pandemic world.

The survey focused on the impact of the Covid-19 pandemic and how it has changed the everyday behaviour of millennials across a variety of aspects, including travel, shopping savings and credit appetite.

While the majority have become more cautious about finances amid the pandemic, awareness regarding saving and insurance have also improved among the characteristic.

With 52% of the respondents said they have grown their savings, 35% have purchased comprehensive health and life insurance plans. Further, 13% have committed to more extensive investment programmes.

Indian millennials have become more health cautious during the pandemic that has also led to remote work. According to the report only 71% of millennials have grown more health conscious during the pandemic.