Nearly one in three urban Indians frequently experience financial anxiety, with managing money proving to be a bigger concern than simply earning or saving it, according to a new study commissioned by fintech company Revolut and conducted by YouGov. The survey, based on responses from 2,010 adults in India as part of a broader study covering more than 6,000 respondents across India, Singapore, Japan, New Zealand and Australia, reveals that financial stress is increasingly being driven by the challenge of making informed financial decisions, staying organised and planning for the future.
According to the study, 31% of urban Indians frequently experience financial anxiety, with an equal proportion saying financial planning and money management represent their biggest recurring financial stress, ahead of concerns related to day-to-day expenses. Beyond financial planning, respondents identified economic and political uncertainty (24%), family financial responsibilities (23%), and comparisons driven by social media (22%) as key contributors to financial anxiety. The report suggests that financial wellbeing is increasingly being shaped by how effectively people manage their money rather than the amount they earn or save.
The study found that technology is playing a growing role in personal finance decisions, with around 34% of respondents saying they use AI tools to guide financial decisions, while one in five now rely on AI as their primary source of financial advice. This reflects increasing acceptance of digital financial guidance, with consumers using technology not only to seek financial information but also to support everyday money management and decision-making. The findings indicate a growing shift towards digitally enabled financial management.
Social media is emerging as an important source of financial information and motivation, with about 30% of respondents saying social media encourages them to improve their financial habits, while 15% said it helps them feel more informed and in control of their finances. The study found that 24% started tracking their expenses after consuming financial content online, 23% said they had tried new financial products discovered through social media platforms, and 20% reported making investments based on recommendations from online content or AI tools. These trends reflect a growing shift towards digitally enabled financial management.
Commenting on the findings, Girish Singh, Head of Growth at Revolut India, said consumers are increasingly seeking financial products that extend beyond conventional banking services. "As financial behaviour evolves, consumers are increasingly looking for products that go beyond basic payments and banking, to help them understand daily spending behaviours and optimise how they spend," Singh said. He added that consumers are looking for tools that simplify everyday money management, help them stay in control of their finances and provide greater visibility into their spending patterns.
