80 percent population avoids big spending in 2022

Hyderabad: As per a survey carried out recently 80% Indians across the country are not prepared for big spending or have any plan for foreign tour in 2022.

According to the survey conducted by Local Circles that included 47,000 families, as many as 78% said they don’t have any plan to buy jewelry.

Only 7% of the respondents are interested in purchasing property during 2022 while 83% have no plans.

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About 82% have no interest in purchasing cars in 2022. Only 7% plan to buy a new petrol car while 6% are planning to buy an electric car and only 3% are interested in buying a diesel car.

For gold purchase, only 9% are planning to purchase gold while 78% have no plan for jewelry.

About 22% regard fixed deposits as safe investments and 10% are planning to invest in equity.

About 67% are planning to retain their health insurance as it is and no plan to increase premium. About 80% have no insurance cover nor have any plan to take one during 2022.

The survey showed that more people planned to buy stocks and mutual funds, instead of investing their money in savings deposits or gold. This could be due to the fact that only 20% of the respondents were from tier 3, 4 cities and rural locations.

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