- An Indian couple in the US revealed $850,000 debt from mortgages, loans, and credit cards
- Their expenses included a primary home, investment property, car, kitchen renovation, and vacations
- Debt accumulated slowly without conscious decisions while pursuing the American Dream
An Indian couple who moved to the United States at age 22 say the pursuit of the "American Dream" quietly pushed them into a financial hole they never planned for. In a post on their Instagram page @moneyharmony123, they revealed they've racked up $850,000 in debt, which is roughly Rs 8.4 crore, across mortgages, loans, and credit cards.
The couple describes how each "normal" expense and upgrade added up. A good job, a house, a nicer car, a kitchen renovation, vacations, and an investment property all felt like the right moves at the time.
"At 22, I moved to the U.S. chasing the American Dream. A good job. A house. A nicer car. A renovated kitchen. Vacations. An investment property. None of these decisions felt irresponsible at the time," they wrote on Instagram. "But looking back, every 'normal' decision added another payment, another loan, another monthly obligation."
"One day we looked at our finances and realised we had accumulated nearly $850,000 in debt."
Also read | "Struggling To Budget": 26-Year-Old Earning Rs 82 Lakh A Year Says Luxuries Still Out Of Reach
See the post here:
They also shared the debt breakdown, which included a primary home mortgage of $400,000, an investment property mortgage of $270,000, a kitchen renovation loan of $150,000 and $30,000 as credit card debt.
"The crazy part? We never sat down and decided to take on $850,000 of debt. It happened slowly while we were living life on autopilot," they wrote.
Now they're trying to change course. The couple has set a goal to become completely debt-free within the next 1,200 days, roughly 3.3 years.
Social media reaction
The post reached 74,000 users, and their story struck a chord with other NRIs and young professionals who get stuck in similar debt traps. "All the best, you would certainly meet ur zero debt goals," one user wrote in the comment section.
"Self-motivation to clear the debts in 1200 days... It's appreciated," another user added.
"Is it possible without financial knowledge that you will pay your all debts," shared their perspective, and calling it "impossible".
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