Zoomers in the Marketplace

DAKSH TIWARI KEEPS a small pouch tucked away in a drawer by a quiet corner of his hostel room at the Indian Institute of Technology (IIT) Delhi. The drawer isn’t filled with souvenirs or memorabilia; it’s where he saves money. “Whenever I have some cash left or need to save for something, I put it in there,” the 18-year-old first-year Mathematics and Computing student says. “It’s my little way of saving—out of sight, out of mind,” he adds with a grin. Tiwari’s method may sound old-fashioned in a world of investment apps and digital wallets, but his thinking is modern. For him, wealth isn’t about accumulating assets—it’s about peace of mind. “Being wealthy means having enough to live comfortably and not stress about every expense,” he says. “It’s more about freedom than numbers.” Across India, this generation of young people like Tiwari, often referred to as Gen Z, are redefining the boundaries of what it means to be “rich”. Their relationship with money is not obsessive; it is practical, and often deeply personal. A May 1, 2025 article titled ‘How Gen Z is Redefining Personal Finance in India: Trends, Tools, and Investment Habits’ by Boston Institute of Analytics backs this up, noting that Gen Z is as much interested in saving and investing and creating long-term wealth as in earning and spending. “The financial habits of Gen Z are a reflection of the world around them. Raised amidst technology, economic uncertainty and access to information on the internet, they are bound to be more careful about managing money at a younger age,” the article says. Tiwari agrees. “Money gives you freedom, but it’s also a responsibility,” he says. “You can lose it just as easily if you’re not careful.” He prefers working “less but smarter”, choosing flexibility and self-growth over long hours. If Tiwari sees wealth as a path to freedom, 25-year-old Niharika Dharmshaktu, who works as a teaching assistant in Delhi University, sees it as way of maintaining balance. “To me, being wealthy means being able to make life decisions without constantly thinking about the money left in my account,” she says. “I want comfort—but without guilt.” Japman Banga, too, equates wealth with living comfortably, having the freedom to make choices and the time to do what is important. To her, a 22-year-old MA student in psychology at Amity University, being able to enjoy life without constantly stressing about bills feels like real wealth. Peace of mind beats a wad of cash, Banga says. “Life’s too short to spend all your time working even if the paycheck is bigger.” At Jawaharlal Nehru University, Dhruv Singh Bangar, a 28-year-old PhD student, considers wealth to be a tool—a tool to make him financially secure. “For me, possessing wealth is not millions and millions but enough to make my life comfortable,” Bangar says. However, his collegemate, Amit Kumar, a 27-year PhD student in public health, shared a different view: money matters. Kumar hails from a small town in Bihar’s Vaishali district—for him, studying in an expensive city like Delhi was out of means. “The biggest factor that contributes to a high social status is your earnings,” Kumar says, reflecting on how financial wealth helped him gain social stature. Kumar is eyeing for a government job, wishing to earn a minimum of ₹1 lakh per month. But he also dreams of splurging. “I always wanted an iPhone,” he laughs. “When I started earning, I finally gave in.” Tiwari, too, recalls spending his first income on expensive shoes. “I don’t feel any shame in that,” he says with a confident smile, “For me that is financial independence.” Like Kumar, Dharmshaktu, too, grew up on a modest allowance, counting every rupee while studying in Delhi. Now, as a newly-minted working professional, she’s learning to be mindful without being rigid. “I’m not structured when it comes to saving or spending. I do set an amount of money for saving but it does change and often is used as an emergency fund. I’m trying to unlearn the idea that happiness has to come from material wealth,” she says. Her parents’ generation, she says, viewed money through the lens of security—saving for family, sacrificing comfort for stability. “Our generation values experiences more,” she explains. “We’re not waiting till retirement to live life. We’re living it now.” She adds: “Growing up, my family, especially my mother, always highlighted the importance of financial independence. While they always reassured their support, my parents made me realise how financial independence helps a woman in making important decisions in her formative years.” Banga echoes that sentiment. “Yes, our parents saw money as stability. We want that too, but also freedom and happiness. We care about comfort, but also experiences and purpose.” Her driving ambition is to have a stress-free life until the age of 30 “Being able to live without constantly worrying about money feels like freedom,” she adds. This stands in contrast to the tired stereotype that Gen Z is entitled, reckless, or indifferent to savings. In reality, many young Indians are rethinking wealth with clarity and emotional intelligence. Their focus often extends beyond finances—to mental health and well-being. “Money is not the only kind of wealth,” says Jeetanshi Purohit, 17, a first-year BCom (Hons) student at Shri Ram College of Commerce (SRCC). “For me, wealth is a mix of money, health, family among other things.” “Being financially secure plays a part in your mental health,” adds Aditi Gunjan, a 20-year-old English (Hons) student at Lady Shri Ram College (LSR). “Wealth is both money and freedom.” For PhD student from the Department of English at Delhi University Ankita Sethi, wealth is tied to stability but not in the traditional sense. “I come from a middle-class family,” she says. “We never had immense wealth, but we never lacked essentials either. To me, wealth means living comfortably—in health, in work, in relationships.” Elsewhere in Delhi NCR’s college corridors, similar reflections abound. At Sri Venkateshwara College (also in DU’s South Campus) Vansh Kukreja, 19, from a business family, has given wealth serious thought. He has grown up with the idea that money in real estate and long-term investments, majorly gold, is a sensible plan. Wealth, in his eyes, is the amount of real estate one has; how much gold one holds at that particular time, and how liquid particular businesses are. His upbringing has taught him to manage his business and assets for years. “Only five per cent of your net worth should be in luxury, no more; that is my personally defined percentage and I will follow throughout my life,” he stresses. Kukreja’s measured tone seems a marked contrast to the casual, relaxed freedom of the students walking around the campus, chatting or looking at their phones. Kukreja believes wealth is not just financial security, it is also about certain values and discipline. His business background has led him to be more specific about how he should get it. He plans to pursue an MBA from a reputable institution before joining his family business. He has thought it through: if he invests ₹30-35 lakh after completing his MBA, he will expect a ₹30-lakh cost-to-company annually. Equally grounded is another Sri Venkateshwara student Tanmay Chaturvedi, an undergraduate in Biochemistry. “I would require a minimum salary of ₹20-25 lakh per annum. Hopefully after getting an MA, it will increase,” says the 20-year-old. His aim is to be a biocomputational scientist and go abroad as there is much more investment in research and the pay is better than India. Chaturvedi has not only researched his career but also the stock market. He has already started saving in mutual funds. “I believe in having a balanced lifestyle; having luxuries is secondary and can be acquired after real stability,” he says. Financial security, this generation believes, is the key to a good education, stable lifestyle and even good relationships. Yatharth Tiwari, also in his first year of Biochemistry, shares this view. “Prosperity is only applicable if you have savings,” he says. Long-term planning is important for these students. India, after all, is a growing brand, and foreign investments are visible. Yatharth Tiwari has noticed this in the big malls like Select City Walk in Delhi. He has also observed that people are saving their money directly in their phones, and there is also a growth in digital savings, and digital currency. “People are investing rather than saving.” He points out that as technology is always advancing, the price of the latest iPhone you buy now will decrease later. “Everything depends on the market.” Ankita Sethi keeps her savings flexible. “I put aside a certain amount. Whatever is left after spending, I club it with my savings. However, it is a very flexible system. If a certain month needs more spending, I negotiate the amount I save,” she says. And her idea of investing is rooted in instinct and understanding over hype. “I consider familiarity as a good marker for investment,” she says. “It is very easy to get carried away with all the options available today. I don’t invest in what I do not understand, no matter how high the promised yield is.” Even teenagers like Purohit are getting market-savvy. She invested ₹15,000 she earned as a reward for topping her school exams. With a stroke of luck, it doubled in six months. “I prefer investing but if I had to buy something, I’d spend my money on some kind of an asset—on musical instruments like the guitar or drums. I don’t like wasting money on expensive clothes,” Purohit says, coyly admitting that she is a singer. Despite attitudinal variance to wealth, the youth do agree on the influence of social media on their understanding of money. Ankita Sethi says the influence of social media on her saving and spending habits is huge. “It makes wealth look super fancy, but I know a lot of it is fake. Still, it does push me to work harder for my own goals,” says Tiwari. Dharmshaktu calls it a double-edged sword. “The obsession of success and upward mobility, fixation over purchasing collectible items is all socially constructed through our consumption of these platforms that celebrate neoliberal capitalist systems,” she says. “I feel social media is making our perception of wealth too performative.” Banga adds: “Social media messes with the idea of wealth. People say money isn’t everything, but most have it. You just filter the noise and figure out what really matters to you.” Wealth for India’s young adults is no longer about chasing milestones—it is about building meaning. It is about having enough—not in the bank, but in life.

Zoomers in the Marketplace

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