Interesting survey! Women taking charge of household finances, Gen Z saving for a home, Gen X is focused on retirement
A survey by Stable Money and YouGov, ‘How India Saves 2026’ asking Indians how they save, what they save for and where they put their money showed that as much as 80% use a digital platform to save or invest, with the practice for 65% beginning by age 30.
Overall, the habit of saving is strong as 83% of the adults surveyed currently save or invest. Between the genders, close to half of women savers are now calling the shots on household money, and in age demographics, Gen Z is saving for a home, while Gen X is focused on retirement.
Here are some of the key trends from the survey of 1,212 urban Indian adults across more than 150 cities and towns, among which 1,003 respondents (83%) currently save or invest:
Saving is a habit Indians pick up early, the study showed. Of those who save / invest, 39% began between 18 and 25, and another 26% between 26 and 30 — as many as 65% were saving or investing by 30 and this number reaches 82% by age 35.
About one in ten started after 40. That runs against the popular image of an impulsive, spend-first young India as about seven in ten of the adults YouGov surveyed are Gen Z or millennials. “The picture that in fact emerges is of savers who start early and take their money seriously, with digital access potentially lowering the barrier to starting,” it said.
Of the respondents, 56% said they primarily make household financial decisions themselves, while another 23% make these decisions jointly with their spouse or partner. Only 11% leave these decisions to their spouse or partner, and an equal 11% rely on a financial advisor.
Among women surveyed, 46% say they primarily make household financial decisions themselves, and 29% decide jointly with a spouse or partner. This growing sense of financial independence may also be supported by greater access to information and digital platforms.
When asked about preferred product, 23% put mutual funds first and 21% bank fixed deposits (FDs) and recurring deposits (RDs), ahead of gold and silver (14%), equities (12%) and insurance or savings plans (10%).
In a top three ranking, mutual funds (57%) and bank FDs and RDs (56%) lead gold and silver (45%), insurance or savings plans (39%) and equities (36%).
Among fixed income products FDs remain king — bank FDs and RDs come first by a clear margin: 56% place them in their top three, against 20% for PPF, 19% for government bonds and 7% for corporate bonds.
Among respondents, 21% name FDs their first choice, against 6% each for PPF and government bonds and 2% for corporate bonds. The near tie with mutual funds suggests savers as a group value both predictability and growth.
Retirement leads overall, driven by Gen X. Priorities differ across generations: buying a home is the most-cited primary financial goal for Gen Z (26%), while 35% of Gen X respondents prioritise retirement.
For Gen Z, retirement ranks fourth, behind buying a home, building an emergency fund and travel. “In a sample made up largely of Gen Z and millennials, cohorts often stereotyped as financially impulsive, it is striking that long-term goals still feature prominently,” the study noted.
When asked what they would do with an unexpected lump sum, 32% said they would invest it in higher-growth options such as equities or MFs and 25% in a fixed-income product, so 57% would invest it.
Another 11% would 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. Putting windfalls to work may reflect a response to the times.
Jocelyn Fernandes is a journalist and editor with nearly 13 years of experience covering the business, corporate, economy and markets beats in news.<br> As chief content producer for around three years at Livemint (Hindustan Times), Jocelyn publishes breaking stories, explainers, features and live blogs on a range of business and economy topics, including the Budget, corporate developments, stock markets, income tax, money and personal finance, cryptocurrency, government policy, impact of US tariffs, international developments and more.<br> Jocelyn's writing philosophy is focused on delivering news in an accurate and accessible format for readers. She thus focuses her news coverage on explainers and FAQs in order to breakdown business, corporate, economic, and policy topics that are of importance to everyday readers.<br> She holds a Bachelors in Mass Media (BMM) and Post Graduate Diploma (PGD) in Journalism and Communication and has previously written for online business and markets news site Moneycontrol (Network18), Business-to-business (B2B) trade publications — the industry magazines Power Today and Solar Today (ASAPP Media), and the national news agency United News of India (UNI).<br> Outside of work, Jocelyn keeps up-to-date with local and international news, enjoys reading fiction books, novels and short stories, and enjoys movies, travelling and art. <br> She can be found on X and LinkedIn, and reached by email: <a href="jocelyn.fernandes@htdigital.in">jocelyn.fernandes@htdigital.in</a> <br> X/ Twitter handle: <a href="https://x.com/scribeJocelyn">@scribeJocelyn</a> <br> LinkedIn: <a href="https://in.linkedin.com/in/jocelyn-fernandes-journalist">LinkedIn</a>
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