What’s The Mood Of Hyderabadis For Better Financial Planning?

Making the right financial planning is the key to having a tension free life. No one knows what life throws at us. When the lockdown was imposed due to Covid impact many people lost their jobs. Not just them but people who are dependent on them also went through a rollercoaster ride.

Companies across sectors and sizes are going for layoffs and there are fears of possible recession. This forced people to focus on financial planning so that they won't face any issues.

A recent report said that the Hyderabadis are opting for a plan to face any possible financial instability. The anishchit index of Aditya Birla Sun Life Insurance (ABSLI) said that Hyderabadis are preferring financial planning.

95 percent of Hyderabadis said that they are ready to have a safe future. 58 percent are seeking advice from the experts in this regard. While the national average is just 34 percent the same is 58 percent in Hyderabad.

52 percent showed diversity in the investments and 69 percent saved money in savings accounts so that it can be used in the emergency. They are saving 48 percent fixed deposit which is a traditional form of investments.

Around 51 percent of the respondents said they are confident as they are into jobs and businesses that give high returns regularly. As they get income and other returns regularly they are in a better position and they need worry about anything in most cases.