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On paper, this should be the wealthiest generation India has ever produced. A couple working in tech in Bengaluru or Gurgaon can together earn in a month what their parents earned in an entire year. Two incomes instead of one, often one child instead of two. By every logic, savings should be overflowing. And yet the numbers say the opposite - India's household savings have fallen from around 7-8% of GDP in 2010 to about 5.3% today, while household debt has climbed from 26% to 43% of GDP, with unsecured personal loans and credit card borrowing growing over 20% year on year. So this video answers one simple but uncomfortable question - how did India get poorer with two incomes?
The answer isn't new. In 2003, American law professor Elizabeth Warren studied bankrupt families and found something shocking - the households most likely to go bankrupt weren't the poorest, they were dual-income families with two kids, saving less than a single-income family did in 1970. The same thing is now happening here. I explain why the second income never created wealth - it created eligibility. It let families reach for the school, the society, the car, the lifestyle that was previously out of reach. But when everyone gains that eligibility at once, supply stays fixed and prices simply rise, which is the most basic principle of economics - when everybody gets money, nobody gets rich, things just get costlier. Worse, the second income quietly removed the family's insurance - the fallback earner who could step in during a layoff, an illness, or a burnout - leaving couples locked in a golden cage where neither can afford to pause, pivot, or rest. I walk through a real email from a couple earning ₹2.1 lakh a month planning a ₹1.7 crore house, and the brutal maths of what that would do to them. Then I share the fix, and how my wife and I actually run our own household on it. Do that for 10 to 15 years and you escape the rat race - because you can't control house prices or school fees, but you can absolutely control your own commitments.
#PersonalFinance #MoneyMindset #warikoo
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The above links are for products that I personally use for my own investing. If you create an account on any of these using the above links, I stand to make a referral income from it. 100% of this income is contributed towards the education of kids who cannot afford it. Over 5 years we have contributed 1.96Cr in helping kids continue their education.
DO NOT assume that these are the best products in the industry. Please do your research and let me know if you have any questions.
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My gear for shooting this video:
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📹 Sony E Mount FE 24-50mm F2.8: https://amzn.to/3RjcgiN
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