Millennials don’t believe in working for the future. Here’s what they are spending on the most

Those days are long gone when people used to save their salaries for home, car, medical, retirement, etc. This is the age to spend.

Millennials are not waiting for the future and are splurging. Be it travel, buying luxury items or treating themselves with fancy things, millennials are not shying away from spending and think saving for future is not their “cup of tea”.

"Today the average age of an Indian is 25 and they've entered the workforce with a mobile phone in their hand. As their awareness increases, so does their disposable income and aspirations - they want to earn more and at a younger age,” said Rashi Menda, Founder, Zapyle.

Millennials don’t believe in working for the future and are more of passion-driven.

The digital age has also given millennials a lot of options to splurge on. When it comes to fashion, millennials want to look the best and are not batting an eyelid before spending on luxury wear.

Around 80% of millennials in India spend almost Rs1,990 per month when shopping online. Around half of all Indians spend Rs 500 to Rs 2,500 on clothes each month. As per Zapyle, 75% of Indians with a household income of Rs15 lakhs or more spend Rs 1,500 or more per month on clothes.

(Image: Thinkstock)