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Where do Indian people spend most of their life savings?

There are six main areas where Indians (middle income group) spend most of their income & life savings in the following order:

(1) Education for their children                                                                    

(2) Daughters’ marriages                                                                          

(3) House

(4) Yellow gold                                                                        

(5) (Status symbol) car

Indians are well aware that they would spend the majority of their income in the first five areas, so they save well. The sixth area where Indians spend their money is: health.

(6)Health

This is the one area where Indian people spend money unhappily both for prevention of disease and its cure. They will be spending for years to come unless they wake up and take action now.

Let’s understand each of them separately.

(1) Education for their children                                                                        

Parents in India can spend any amount of money on their children’s education. They can cut down their own expenses, but feel happy that their child can study in good (private) schools.