During the pre-Covid days, people were habituated about spending more and doing less of spending and investment. But the situation changed completely after the Covid pandemic. Nowadays, people are concerned about saving more and investing in various schemes to get a proper return on their money. People are more concerned about saving money quite fast after the epidemic. With the advent of technology, people can save, invest and get their profit back to their account just with the click of a button.
India has the highest numbers of young generations globally; around 34% of the population belongs to that group. This generation spends a lot and needs a regular supply of money. Let us look at those areas where the young Indian age tends to invest their money to maximize their earnings.
1. Investing in IPO, day trading, and stock market
Lockdown and working from home have given enough opportunity to the young generation to keep track of their stock market trends and IPO, and any other investment. Various mobile apps about this have come up, and these apps have made the process easier for these young investors. Due to their huge participation, the stock markets are performing very well globally, helping these young people generate a good return on their investment. The most significant advantage of this generation is that they are never afraid to take any stock market risks.
2. Invest and trade in cryptocurrencies
Cryptocurrencies are a big attraction to young investors these days. Though cryptocurrencies are not regulated in many countries, people still invest in them and earn their profits. Heavy long-term return from cryptocurrencies is one of the main reasons for their attraction.
The job market demands persons with high skills, and the young generation has started demanding paychecks as per their skill level. Rapid advancement in various technological fields has made college education obsolete, and young age people are getting trained in multiple skill sets to make them competitive in the job market. They have realized this reality and are going here and there to upgrade their skills through various skill development courses. Hence digital upskilling platforms are seeing a massive rise in their enrollments. While doing the upskilling courses, they are paying from their pocket without any hesitation, which will lead them to higher paychecks in the future. They are even funding this education from their pocket.
4. Rise of the gig economy
Multiple online platforms have come into the market, and they are helping the younger generation to earn extra money by using their skills in various freelance gigs. It can be writing or PHP programming, or playing online casinos. Joining a good australia online casino can be very rewarding for earning money in this regard. One thing that can be learned from them is making optimum use of their earning opportunity and planning their savings and investment for the future.