Stock trading and side hustles – this is how salaried Indians are trying to deal with mounting expenses
- Over 75% of the Indians are resorting to secondary source of income to cope with the rising
- Freelancing and stock trading were among the most chosen side gigs for
extra income, as per a.UserTesting report, shared exclusively with Business Insider.
- Inflation has started eating into salaries of middle-class Indians after inflation hit an eight year high in the recent months.
AdvertisementThere’s no doubt that Indians are facing the brunt of price rises with regards to basics like bread, petrol and more. To cope with it, over 75% of them are resorting to a secondary source of income.
A report by UserTesting, shared exclusively with Business Insider, reveals that freelancing and stock trading were among the most chosen side gigs for extra income by Indians.
“As inflation heats up, former motivations for
Inflation has started eating into salaries of middle-class Indians after inflation hit an eight year high in the recent months. Those who haven’t received generous appraisals are looking at their savings dwindling, while others are struggling to keep up with their budgets.
Car travel, shopping and entertainment affected too
Not only this, inflation has also pushed Indians to replace their go-to shops. Around 65% of the respondents said that they are buying generic or local brands instead of branded products so as to save money — a concept called downtrading by FMCG companies.
More than half of the Indians have shifted their focus on local brands – be it groceries or clothes. They are also buying more from local kirana shops, as opposed to larger stores.
The survey respondents also mentioned that they are minimizing personal car travel and are opting for public transport to reduce their petrol expenses.
Freelancing has gender pay gap too but it’s much less than what it’s in the traditional market
After techies, its aviation crew salaries that’ll be ‘up in the air’
From a small thela to 100 stores — MBA Chai Wala is now looking to hire 500 people for 100 more
Popular on BI
- SIMPLY PUT: What happened before India got Freedom@Midnight
- Here’s how much banks have increased home loan interest rates
- Avatar 2, Black Panther 2, Ant Man — Here is a complete list of Hollywood movies expected to hit Indian theaters in the next 6-7 months
- Qmin has been profitable business for IHCL from day one, says Jehangir Press
- India's foreign exchange reserves fall to $573 bn