LIFEis an eclectic journey of varying mindsets. Each phase of life puts different pressures and compulsions and that changes the spending patterns of an average, socio-economic class (A, B & C), urban Indian household. Households with grown-up, financially independent children spend the highest at Rs 1,31,048 per annum (Rs 10,921 per month). Newly-weds, household with a married couple with no kids, spend the least at Rs 1,15,450 per annum (Rs 9,621 per month), even lower than singles in urban India, who spend Rs 1,22,885 (or Rs 10,240 per month).
Empty-nesters, essentially households with only retired people, spend the
second highest among all life-stages, at Rs 1,23, 603 per annum (Rs 10,300 per month). At an all-India level, the average household spend is Rs 1,22,446 per annum, or Rs 10,204 per month.
In this concluding part of a three part series, ET presents a lowdown on how household spends vary with life-stages from an exclusive peek into one of the country’s biggest ever consumer market research — Indian Consumer Trends ’06 — conducted by retail consultant Technopak’s The Knowledge Company. The study involved 25,000 respondents across a sample of 50 cities and towns, representing the entire urban India.
A high proportion of household spend going in for repayment of loans, 4.3 % for married with independent children and 4.9 % for empty-nesters, explains to a large extent overall high absolute spends by these households compared to other life-stagers. But even while these households are servicing big loans taken earlier in life, they seem to catching up on personal indulgences that may have been sacrificed earlier in life in order to bring up kids.
For instance, household spend on food & groceries makes for interesting reading here. Married with independent children spend 38.6% of their total household income, highest amongst all married households closely followed by newly-weds at 38.2%. This can be attributed to non-existing guilt feeling on eating and living well, simply because you don’t have dependent kids or kids at all. Married households with dependent children and empty-nesters spend
about the same, 36 % of their household income on food & grocery.
The next big item of household expenditure is rent & utilities where newlyweds, tend to be spendthrifts. The expenditure takes away 14.2% of their monthly household expenditure. It’s obvious, married couples without kids are in the phase of life that is carefree and there’s tendency to live those moments to the fullest. Little wonder then, these households spend the highest (2.9%), same as married couples with dependent children (2.9%), on eating out & entertainment. Singles are the most mobile, spending the highest (7.6 %) on fuel & transport, followed up empty-nesters at 6.1%. And no points for guessing who saves the most—it’s married households with independent children.
Empty-nesters, essentially households with only retired people, spend the
second highest among all life-stages, at Rs 1,23, 603 per annum (Rs 10,300 per month). At an all-India level, the average household spend is Rs 1,22,446 per annum, or Rs 10,204 per month.
In this concluding part of a three part series, ET presents a lowdown on how household spends vary with life-stages from an exclusive peek into one of the country’s biggest ever consumer market research — Indian Consumer Trends ’06 — conducted by retail consultant Technopak’s The Knowledge Company. The study involved 25,000 respondents across a sample of 50 cities and towns, representing the entire urban India.
A high proportion of household spend going in for repayment of loans, 4.3 % for married with independent children and 4.9 % for empty-nesters, explains to a large extent overall high absolute spends by these households compared to other life-stagers. But even while these households are servicing big loans taken earlier in life, they seem to catching up on personal indulgences that may have been sacrificed earlier in life in order to bring up kids.
For instance, household spend on food & groceries makes for interesting reading here. Married with independent children spend 38.6% of their total household income, highest amongst all married households closely followed by newly-weds at 38.2%. This can be attributed to non-existing guilt feeling on eating and living well, simply because you don’t have dependent kids or kids at all. Married households with dependent children and empty-nesters spend
about the same, 36 % of their household income on food & grocery.
The next big item of household expenditure is rent & utilities where newlyweds, tend to be spendthrifts. The expenditure takes away 14.2% of their monthly household expenditure. It’s obvious, married couples without kids are in the phase of life that is carefree and there’s tendency to live those moments to the fullest. Little wonder then, these households spend the highest (2.9%), same as married couples with dependent children (2.9%), on eating out & entertainment. Singles are the most mobile, spending the highest (7.6 %) on fuel & transport, followed up empty-nesters at 6.1%. And no points for guessing who saves the most—it’s married households with independent children.