In India, salaried employees spend an average of 33 percent of their monthly income on monthly installments on loans,
A study by financial technology firm Perbias in collaboration with PwC India has found.
The study, conducted among over three million tech-savvy consumers, found that 39 percent of their income is spent on monthly expenses, including loan installments.
32 percent of their income is spent on essential expenses and 29 percent on lifestyle expenses. As wages increase, food and lifestyle expenses also increase. Rent and medical expenses are also significant.
22 percent of the low-income group spends on online games. This drops to 12 percent in the high-income group. The study also revealed that people across all income groups spend more on fashion.
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