“Things I don’t dream about yet today will become dreams as I climb higher. Financial success
is a never-ending process.”
Arnab has a BSc degree and works as a logistics supervisor in a B2B logistics company selling clothes and electronics. Arnab has held a number of positions in the past, including in hospitality management and in a call center for Vodaphone. Arnab lives with his parents who cover most of his basic expenses, so the majority of his ₹ 18,000 per month salary is disposable, primarily used for personal expenses like clothing, mobile charging, and his motorbike. He doesn’t actively manage how much he spends. Arnab sees himself as a hustler, and is eager to quit his job to work for himself. He plans to start his own mobile accessories business in the next few months, and is also active with an NGO with whom he plans to start social projects for marginalized communities in the Sundarbans, via assistance from a politically connected friend.
As Arnab’s digital literacy allows him to easily navigate a wealth of digital financial tools, how is he currently using these tools to work towards his long-term financial goals?
by the numbers
Like Arnab, Influencers are predominantly men who are self-employed or formally employed and are more educated than other segments. Approximately 184 million (19% of the Indian population)
fall in this segment.
AGE 35 OR BELOW
SOCIOECONOMIC (SES 4-5)
HIGH INCOME VOLATILITY
Influencers are sophisticated savers and have strong financial health, with the lowest income volatility across segments. Unsurprisingly, they are financially autonomous and resilient in emergencies. They exercise a degree of impulsivity as they have the capital and financial stability to spend now and not
worry about the future.
Financial Behavior & Attitudes
SAVINGS BEHAVIOR & ATTITUDES
Influencers are the most frequent savers of money compared to all segments.
They are more likely to have informal group savings channels, such as chit funds and self-help groups (SHGs). They are also most likely of all segments to save using their mobile wallets.
BORROWING BEHAVIOR & ATTITUDES
Influencers borrow money frequently and exhibit high borrowing dependability.
They are more likely than any of the other India segments to use mobile borrowing services, but like the other segments, rarely borrow in group settings.