“The way children are today, whatever money they make … they blow it all and then ask someone else for money the next day,” said Shailaja Janardan Mane.
“Our generation didn’t blow all the money we had. We’d keep a little in the bank and spend the rest.”
But her daughter rationalised: “My peers are going, so I just want to go, enjoy the night, be at my friend’s house, party till five o’clock and then sleep.”
Part of what sets these generations apart is the India they grew up in, whose GDP per capita 30 years ago was around US$400 and now exceeds US$2,800.
Starting life in a better financial position than their parents has shaped the expectations and aspirations of many young Indians. And in Maslow’s hierarchy of needs, experiences and luxury goods can be seen as fulfilling their self-esteem or self-actualisation needs.
There is also the need to feel a connection and a sense of belonging. By the same token, there will be peer pressure.
“Peer pressure is a thing. I feel I’m getting old, I don’t want to miss out on things,” said Sudhakaran. “What’s more important? Should I have fun, or should I save up because I don’t have money?”
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