How millennials can reduce Lifestyle Borrowing?
How millennials can reduce Lifestyle Borrowing? https://www.fundstiger.com/millennial-lifestyle-borrowing/ Indians are borrowing more. Not only has the number of borrowers increased over the past decade, the ticket sizes of loans have also shot up. Millennial borrowers are financing their lifestyle spending by taking short-term loans and swiping their credit cards at will. With the advent of easy loans offered by digital lending platforms, this trend has seen a further spike. But there is a darker side to watch out for because the more one borrows; the deeper they can sink into a debt trap. A recent research report shows that there is a 55 % surge in personal loans for travel purposes with 85% of the borrowers being millennials. It will be interesting to find out the driving force for this trend. How to reduce lifestyle borrowings? Chalking out a monthly budget plan and deciding to make prudent investments can be a difficult task for a millennial. Prioritizing your bu...