With EMIs, it has never been easier to purchase vehicles, the latest gadgets or even expensive products. Monthly instalments often make costly purchases feel more affordable. However, many fear that EMIs have become a financial trap for some people because of their ability to drain finances over a long period.
The debate has been reignited by a viral Instagram video. In the clip, a man named Amit urges young people to avoid buying things they cannot truly afford. While many people supported his message, others argued that EMIs are simply a tool to help fulfil dreams.
'Your entire youth will pass by'
In the viral clip, the man, identified as Amit, warns viewers against falling into what he calls the "EMI trap." "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 says.
According to Amit, buying an expensive possession may bring temporary happiness and make family members feel proud, but the financial pressure that follows can last much longer.
"When you get all these things, you will feel proud one day. That 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 adds.
Fear of EMIs can affect everyday life
Amit further argues that the pressure of meeting monthly repayments can influence both 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 says. "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."
The caption carries a powerful message
The Instagram post reinforces the same idea with a caption that urges people to avoid building a lifestyle around debt.
It reads: "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."
Internet remains divided
The video has sparked a lively discussion online, with users sharing contrasting opinions.
One user disagreed with Amit's viewpoint, writing, "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."
One person summed up the struggles of many borrowers with a brief but relatable comment: "I'm already trapped in it."
A conversation that goes beyond money
The viral video brings to light a larger debate about striking a balance between aspirations and financial discipline. While EMIs can certainly help people fulfil their dreams, many believe the key lies in borrowing responsibly and ensuring that repayments remain comfortably within one's budget.
Whether you agree with Amit's opinion or believe EMIs have played an important role in your financial journey, the discussion is a reminder that every financial decision comes with long-term consequences. Sometimes, the greatest luxury is simply the freedom to live without constant financial stress.
