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‘Never get trapped in EMIs’: Man warns young people against buying what they cannot afford
A man advised people to avoid unaffordable EMIs, saying financial freedom mattered more than social status.
A man’s warning about buying expensive possessions through equated monthly instalments has sparked a debate online, with social media users sharing sharply divided opinions on whether EMIs are a financial burden or a useful tool for achieving major life goals.
(Also read: 'How do you take risks with EMIs?' Gurgaon man’s post resonates with working professionals)
In a video shared on Instagram, the man urged people not to purchase cars, luxury goods or other expensive items merely to impress others, especially when their income does not comfortably support the repayments.
‘Your entire youth will pass by’
The man, identified as Amit, said, “You can make any mistake in your life, but never make the mistake of getting stuck in an EMI trap. You might have a dream, or your parents might have a dream that you own a car. But if you get stuck in this trap, believe me, your entire youth will pass by, and you won't achieve anything.”
He added that although purchasing a car or another costly item may initially make a person and their family feel proud, the happiness could soon be replaced by financial pressure.
“When you get all these things, you will feel proud one day that the day will be very special, your parents will be very proud, the people around you will be very proud, saying, ‘What a son!’ But after that, you will live a life of compromise,” he said.
According to Amit, the fear of missing monthly payments can also affect a person’s professional and personal decisions. “You won't be able to do anything good in your job because you'll have fear inside you, and you won't be able to do anything good in your personal life because you'll have fear inside you,” he said.
Concluding his message, he advised people to avoid purchasing things beyond their financial capacity. “If your income doesn't allow it, then don't buy these things. You will be happier as compared to when you buy those things and pay EMIs,” he said.
The clip was shared with the caption, “Never get trapped in EMIs. Buy fewer things, but only according to your means and needs. Do not build a lifestyle on EMIs just to impress others. True luxury is not about owning expensive things; it is about having financial freedom. Today’s show-off can become tomorrow’s stress. Cash > Status. Peace > Impressing People.”
Watch the clip here:
Internet divided over EMI advice
The video attracted mixed reactions. One user pointed out, “Many middle-class families cannot afford major purchases without relying on EMIs.”
Another disagreed with the man’s argument and wrote, “I don’t agree with you, brother. Work hard, earn money, and fulfil your needs and aspirations. EMIs are simply a financial tool that can help you achieve your dreams sooner.”
Sharing a personal experience, one person simply commented, “I’m already trapped in it.”
(Also read: Bengaluru man lost ₹1.2 crore flat after missing 3 EMIs, claims neighbour: ‘One layoff destroyed 8 years of payments’)
Another supported Amit’s advice, writing, “Buy a second-hand item at a lower price if necessary, but stay away from EMIs, brother. You are absolutely right.”
HT.com has reached out to the user for his comments, and the copy will be updated once his response is received.
(Disclaimer: This report is based on user-generated content from social media. HT.com has not independently verified the claims and does not endorse them.)
