Universally, there is a staggering difference between the way middle-class and wealthy individuals manage their money. Financial security for the middle class is typically grounded in a secure job with a steady stream of income, cautious spending, and disciplined savings of leftover money. However, while this secure paycheque provides short-term security, it sometimes leaves households in a highly vulnerable position in the event of sudden unforeseen circumstances such as job loss, medical emergencies, or debt defaults.
Read more : Financial Literacy Emerges as Key Driver of Wealth Creation for India’s Middle Class
Published in Higher Education Plus
Prof. Anju Gupta
