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Inflation in India is north of 7% so that kind of savings rate isn't great. It's worse than the 0% savings/1.7% inflation we have in the U.S.
by praxulus 14y ago
Inflation in India is north of 7% so that kind of savings rate isn't great. It's worse than the 0% savings/1.7% inflation we have in the U.S.
- inexplicable 14y agoWhile this is true... the significant factor here is that these children are saving. If there were no saving, the money would have been spent/stolen/taken almost for certain. I can understand the feeling of the boy who saved ₹4000 in 7 months. Given the living standards and challenges these children face, it would have impossible to have even a quarter of that left over in 7 months. Edit: added the rupee symbol
- praxulus 14y agoI'm definitely not saying they shouldn't be saving. The (now deleted) comment I replied to was awed by the high savings rate the kids were getting, 5%. I was just putting it in perspective.
- RyanIyengar 14y agoYeah these kids should shop around some, maybe try an Indian Credit Union.
- mehulkar 14y agoBond market?