Why Good Earners Still Feel Broke:The EMI Trap Explained
The EMI Trap: Why It Is Easy to Enter and Hard to Leave Introduction Many people today earn a good salary and still feel broke a few days after payday. Rent goes out, bills go out, and then a long list of EMIs takes the rest. The money was earned, but it was already promised to the past. This is the EMI trap. It does not look dangerous at first. It looks like a friendly offer: "Buy now, pay later in small amounts." But small amounts, repeated many times, can quietly take away your freedom. How the trap begins It usually starts with one small purchase on a pay-later app or a card. Three months, six months, maybe ₹10,000. It is paid on time, and it feels safe, even smart. Then a second purchase comes, then a third. Soon the mind changes. Earlier the question was "Can I afford this?" Now the question is "What is the monthly amount?" A ₹60,000 phone becomes "only ₹5,000 a month," and that one shift in thinking is the trap. The first year usually fee...