In India, the younger working population is getting smarter about their finances. A survey conducted last year, by Tata Capital, showed that those in 18 to 25 age group work towards their financial security — nearly 40% save a quarter of their salary and more than 14% put away half. That’s commendable restraint. The problem lies in how they grow their money. A large percentage (66%) still seeks the advice of family and friends; and most of them choose bank deposits and mutual funds, over equity. That is, they are led by trust and safety, and not by financial literacy and independence.