If there’s one thing Gen Z doesn’t do, it’s wait. You’ve grown up in a world where everything is instant — messaging, content, delivery, even dating. So, it only makes sense that when it comes to money, you expect your bank to move at your speed.
While Gen Z is the most digitally fluent generation, many of us are still figuring out how to actually manage money. We use UPI all day, but don’t track where the money’s going. We’re saving screenshots of our dream trips but not actually saving for them. We’ve downloaded three budgeting apps, but opened none.
So, if you’re Gen Z and ready to take charge of your finances (without boring spreadsheets or complicated jargon), here are the five best banking practices to follow — all through your digital savings account.
1. Choose a Digital Savings Account That Feels Like an App, Not a Branch
Today, convenience is the key – more so when it comes to banking. You should be able to open, manage, and close your account entirely online — without a manual form or having to stand in a queue.
Look for a digital savings account that gives you:
- Instant onboarding with Aadhaar and PAN
- Easy login
- UPI and QR payment support
- A clean, modern app interface
This is your money we’re talking about — the app shouldn’t look like it was designed in 2008.
And don’t stop at opening the savings account. Explore the features. Many digital banks tuck powerful tools into the app — like saving goals, expense categories, or rewards — and most people don’t even know they exist.
2. Automate Your Savings (Because Motivation Isn’t Always Reliable)
Here’s a truth bomb: You won’t feel motivated to save every month. But if you automate it, you won’t have to.
Most digital savings accounts let you set up weekly or monthly auto-transfers to savings pots. Design goal-based saving categories (e.g., “New Phone Fund” or “Thailand 2025”). Round-up savings that stash away change from each UPI transaction.
Saving ₹100 a day might not feel like much. But in a year? That’s ₹36,500 — enough for a trip, an emergency, or an upgrade you actually earned.
Start small. Let the system build the habit.
3. Use the Dashboard Like You Use Spotify Wrapped
What’s the point of tracking your life through Reels and playlists if you don’t track your money too?
Your digital savings account should offer:
- Weekly or monthly expense summaries
- Categorized spending (food, travel, shopping, etc.)
- Income vs. expense graphs
Log in at least once a week. Get to know your money habits like you know your screen time stats. Are you spending more on late-night food than on transport? Time to realign.
Treat your money dashboard like a mirror — not a scolding teacher.
4. Don’t Link Everything — Be Intentional
A big mistake many people make? Linking every app, subscription, and impulse buy to the same account. Before you know it, your Netflix, Zomato Gold, two streaming trials, and three shopping apps are nibbling away at your balance — quietly.
Here’s a better move:
- Keep one digital savings account for core income and essential expenses (rent, groceries, bills)
- Use a prepaid card, wallet, or secondary account for daily swipes and spending
- Review your UPI mandates and auto-debits once a month
This helps you separate needs from wants — and keeps you in control without guilt-tripping yourself.
5. Build Financial Street-Cred, One Step at a Time
Your digital savings account isn’t just a holding space — it’s also the first step toward building your financial reputation.
Once your income starts flowing into the account regularly, you can:
- Open fixed deposits directly from the app
- Apply for a secured credit card to build your credit score
- Track your savings progress over time
- Access pre-approved credit when you need it
Banks like Ujjivan SFB offer savings accounts with smart features built-in — quick FD creation, easy fund transfers via IMPS/NEFT/RTGS, downloadable smart statements, rewards on transactions, higher interest rates and more — all from your mobile.
Use these. They might feel “extra” now, but your future self will thank you when it’s time to apply for a home loan, car loan, or build something of your own.
Final Thoughts
Financial freedom starts with small, consistent habits. Your digital savings account isn’t just a banking tool — it’s a behaviour tool. One that helps you stay organized, automate your progress, and stay one step ahead of chaos.
Ujjivan Digital Savings Account, which lets you open your account completely online, link UPI instantly, and manage your money through a clean, mobile-first app — no paperwork, no branch visits.
The real flex isn’t just having money — it’s knowing exactly where it is, where it’s going, and what it’s doing for you.
