FOMO of a luxurious lifestyle is driving most Indians towards impulsive buying. Financial pundits dissect this change in consumer behaviour and highlight the risks and need to strike a balance
World Thrift Day 2023 is celebrated every year on October 30 to raise awareness about the importance of saving. Photo Courtesy: iStock
- Many people purchase items using credit payment options as their income does not help
- The buying power in tier two of the Indian population is seeing a gradual increase
- Earlier, people used to accumulate money to make heavy purchases but now that has changed
Frequently relishing meals in a fine-dining restaurant whose bills equal the cost of a whole month’s groceries for a couple or purchasing an iPhone that costs a month’s whole housing rent don’t look like healthy financial actions. Yet, many of us choose to tread this path.
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