The Economic Times

Earning Rs 2 lakh a month but scared to tell your parents about spending Rs 500 on ice cream? Financial advisor says you may have a poverty mindset. Why?

Financial advisor Prem Soni says young Indians earning well may still carry their parents scarcity-driven money habits. He argues that hiding the actual cost of gifts, dinners, ice cream or travel to avoid criticism can reflect a deeper poverty mindset. While respecting parental struggles, Soni believes both generations must adapt as incomes, economic realities and financial choices change.