PUJA'S STORY
Meet Puja
“I want to stand on my own two feet and show everyone that I am doing something or other for everyone, no matter how small it is.”
Puja is a young woman who lives with her husband in her maternal home in a village. She has studied up to grade 10 and is eager to continue her studies. She helps her father cultivate paddy as laborers on someone else’s land, for which they earn about ₹ 5000 every six months. The family raises goats and cattle for milk and keeps a small vegetable plot. Puja sees her education as her main asset in life and is keen to study further. In addition to her long-term goal of getting a degree and becoming a teacher, she also wants to give tuitions and start a vegetable stall to earn money in the near term. Ultimately, she wants to get a B.Ed degree so that she can be a high school teacher, but she’s not sure how to save the 1 lakh she has heard she will need for fees.
With big and earnest life aspirations in sight, what financial strategies do Puja have in mind?
SEGMENT OVERVIEW
Seekers,
by the numbers
Like Puja, Seekers are typically younger women in casual employment or with a dependent status of middle socioeconomic status (SES). Approximately 155 million (16% of the Indian population) fall in this segment.
Seekers
India Average
GENDER (FEMALE)
67%
47%
AGE 35 OR BELOW
59%
32%
SOCIOECONOMIC (SES 3-4)
55%
54%
HIGH INCOME VOLATILITY
45%
53%
Seekers have low usage of both formal and informal finance. They exhibit moderate income volatility, due to the temporary nature of their work and dependence on others.
Financial Behavior & Attitudes
SAVINGS BEHAVIOR & ATTITUDES
Seekers are infrequent savers of money compared to the average, but they are willing to take risks when it comes to spending, as they worry less about the future.
SAVINGS ACCOUNTS
They are slightly less likely to have informal savings channels such as chit funds and self-help groups (SHGs). They are also the least likely of all segments to have mobile wallets due to a low usage of technology.
BORROWING BEHAVIOR & ATTITUDES
Seekers exhibit average borrowing frequency and borrowing dependability in comparison to the rest of the country.
BORROWING ACCOUNTS
Like most other India segments, Seekers infrequently borrow using mobile services or in group settings.
Explore our complete set of findings:
Seekers
India Average
