- A man named Amit warns against buying expensive items on EMIs beyond one's income
- He says EMIs can trap people in financial stress and affect personal and professional life
- Amit advises prioritizing purchases within financial means to avoid long-term burdens
A video of a man advising people to avoid buying expensive items through Equated Monthly Instalments (EMIs) has sparked a debate online, with social media users expressing different views on whether EMIs are a financial burden or a practical way to achieve major life goals.
The video, shared on Instagram, shows a man identified as Amit urging people not to buy cars, luxury goods or other costly possessions just to impress others, especially if their income does not comfortably support the repayments.
Amit said people could make many mistakes in life, but they should never make the mistake of getting trapped in an EMI cycle. He said a person or their parents might dream of owning a car, but if they get stuck in this trap, their entire youth could pass by without achieving anything.
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He further said that buying a car or another expensive item may bring pride and happiness for a day, with parents and people around them feeling proud. However, he said that feeling could soon be replaced by a life of financial compromise.
Amit also said that the pressure of paying monthly instalments could affect both professional and personal life. He said the constant fear of missing EMI payments could stop people from doing well in their jobs and also affect their personal lives because they would always carry financial stress.
Amit advised people not to buy things that are beyond their financial capacity. He said that if a person's income does not allow such purchases, they should avoid them, adding that they would be happier than buying expensive items and paying EMIs every month.
The clip was shared with the caption that people should never get trapped in EMIs and should buy fewer things according to their means and needs. The caption also said people should not build a lifestyle on EMIs just to impress others, adding that true luxury is financial freedom, today's show-off can become tomorrow's stress, and peace is more valuable than impressing people.
Social Media Reaction
Social media users gave mixed reaction to the post.
One user commented, "Your are right."
Another user noted, "I am already stuck in this loop."
