Consumer outlook survey was made by KSA Technopack recently. In this survey 60,000 people from 20 cities of India were covered. That showed that citizens expenses towards food is declining and that for mobiles, internet and servant, which are status symbols, are on increasing.
The new generation need mobile more than nourishment. In last 2 years, food bill is reduced 6% and that for mobiles and internet has shoot up 200%. Even today villagers spend 90% of his income on foods, whereas citizens are spending 28% for the same.
Upto the year of 2000, one used to save some part of one's income. Now we don't want to save. 3.7% of income was saved in different format during 2002-2003, which declined to 2.80% during 2003-04. Credit cards and payment facility in instalments have been adopted by citizens. They overlook the interest to be paid for such transactions. For credit cards, the interest comes to be more than 5%.
In past, one land line phone was sufficient for a family of 5-7 persons. 2 landline phones in a home was just a dream. Now, every one needs a mobile. A penny saved is a penny earned! who cares.
Now-a-days, middle class is concerned mainly about children's education and health of family. High fees do not guarantee good education. In the same way, when someone in the family is ill, Doctors, Pathologists and Chemists are there to make sure the budget of the family gets disturbed.
Now if you wonder what part of his income, he is using after charity, the answer is disappointing.
- Related Videos
- Related Articles
- Ask / Related Q&A
- The US Hit by the Combined Forces of Stagflation, Inflation, Recession and High Oil Prices!
- Recession, Its Causes & Effects
- Recession Effects
- Memo on Recession, Housing, and Inflation
- Inflation - the Monster is Out of the Box, But for How Long?
- Recession on the Doorstep, Knocking
- What is an Economic Recession?
- What Shape Will the U.s. Recession Take: U, W or ‘bloody L?’
Personal finance software helps save money
By: Krish Sharma | 12/11/2009Managing your money can take up a lot of your time and also require you to do repetitive and tedious tasks.
Tips To Obtain Personal Loans Poor Credit Options In A Hassle Free Manner
By: Alan Lim | 12/11/2009For those who all are caught by the ill effects of slower economy and possess lower credit ratings, personal loans poor credit are the most prominent approach to meet all their financial requirements.
Stop Worrying About Your Bad Credit History And Get Personal Loans For Poor Credit
By: Alan Lim | 12/11/2009In case you have a bad credit history and are in need of financial assistance, you can feel relieved as you can get personal loans for poor credit.
CREDITOR CLAIMS DURING BANKRUPTCY TO BE TAKEN SERIOUSLY
By: Judy Dixon | 12/11/2009Filing for bankruptcy does not mean that once you have filed the papers for bankruptcy you have got rid of the debts. You have not got rid of the debts until the process of bankruptcy is complete.
Bankruptcy – Select the Correct Option and Benefit from It
By: Judy Dixon | 12/11/2009Filing for bankruptcy can be a discomfiting experience but it doesn't have to be a difficult one. There are some guidelines when you are in bankruptcy. This article offers some good tips and steps to for getting yourself ready to deal with such financial issue.
Assessing Your Assets
By: Nitesh Patel | 12/11/2009Once you decide what kinds of bequests you wish to make, be sure to discuss your plans with your heirs. The sooner and more distinctly you outline your intentions to your family and friends, the less chance there will be for disagreements when you're gone.
Do I Need A Will?
By: Nitesh Patel | 12/11/2009A will is also useful if you have a trust. A trust is a legal mechanism that lets you put conditions on how your assets are distributed after you die and it often lets you minimize gift and estate taxes. But you still need a will since most trusts deal only with specific assets such as life insurance or a piece of property, but not the sum total of your holdings.
Bad Credit Home Refinancing: When It Can Result Into A Severe Headache
By: Alan Lim | 12/11/2009Bad credit home refinancing is well known as an option that is best for all homeowners with bad credit. However, sometimes, because of small mistakes, this option results in severe headache to a person.
Gold
By: Jaksha Shah | 13/04/2009 | InvestingGold is one of the chemical elements. Gold's chemical symbol is Au and its atomic number is 79. Gold does not interact with other chemicals or compounds. Gold doesn't tarnish and even the strongest acids have no effect. Thus, gold lasts forever - and stays shiny the whole time!
Indian Middle Class and Expenses
By: Jaksha Shah | 09/02/2009 | Personal FinanceConsumer outlook survey was made by KSA Technopack recently. In this survey 60,000 people from 20 cities of India were covered. That showed that citizens expenses towards food is declining and that for mobiles, internet and servant, which are status symbols, are on increasing.
Sony Ericsson Gaming Handset
By: Jaksha Shah | 09/02/2009 | Cell PhonesTo support the gaming experience, Sony Ericsson F305 also provides a 2 inch screen and built-in stereo speakers. Plus - if you’re not happy with the 8 hour game-play battery life, you can always get yourself the Power Pack CPP-100 to receive a power boost.
Flextreme From General Motors
By: Jaksha Shah | 28/01/2009 | CarsThe Flextreme’s proposed 34 mile all-electric, emissions-free range doesn’t sound like much, but for the person commuting to work, it should cover the vast majority of commutes. I can imagine that when someone pulls up at their place of business, electrical outlets will be available to recharge the Flextreme during the 9-10 hours the person is at work. Once home, they can recharge their car again.
Why Bail Out?
By: Jaksha Shah | 11/01/2009 | InvestingGovernment need not worry about any company's future. When they earned crores of rupees they neither paid to Government except the tax nor to society except few companies did it. When they earned, they took to home, now when they lose, they are demanding from Government and company's employees by reducing their salaries.
Ktm Duke 690
By: Jaksha Shah | 24/12/2008 | MotorcyclesKTM, Austria's sports bike maker, is planning to launch its bike as a joint venture with Bajaj in India. Initially KTM will launch Duke 690 in the Indian motorcycle market. KTM Duke 690 will largely be developed at Bajaj’s Chakan, India plant and will be marketed through Bajaj’s Probiking showrooms. This joint venture of KTM and Bajaj may be extended to manufacture scooters as well.
Real Estate Market in Gulf
By: Jaksha Shah | 24/12/2008 | Real EstateThe oil-rich Gulf region was considered to be immune to the problems of the financial meltdown. However, the global financial crisis is knocking on the doors of the Gulf region and the first tremors are causing a panic in the job market. The Indian expats are the worst affected with thousands losing their jobs already, according to some reports. In UAE alone, there have been about 800 job cuts in the real estate sector whereas banks have laid off a few hundred more. The impact of the financial m
Suzuki Zeus
By: Jaksha Shah | 18/12/2008 | MotorcyclesJust after a few weeks after the launch of the Suzuki Heat, the company has launched its new model Suzuki Zeus in the Indian market. Suzuki Zeus, the latest bike from Suzuki Motorcycles India Pvt Ltd has been launched. The 125cc single cylinder Suzuki Zeus comes at a price of around Rs 46,000. The bike had a soft launch earlier this year.