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 inflation.
• 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.

There’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“As inflation heats up, former motivations for side hustles, such as paying off debt and saving, have been replaced by a more pressing need: making ends meet,” says the report.

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.

Entertainment and leisure activities are often considered expensive and something which can easily be avoided, so 60% of the respondents decided to cut down on this spending, the report said.

The survey respondents also mentioned that they are minimizing personal car travel and are opting for public transport to reduce their petrol expenses.

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