Nowadays, taking a loan has become much easier than before. Be it buying a house, buying a new car, buying an expensive smartphone or any other big expense, most people resort to EMI. In the beginning everything seems easy and convenient because the entire amount does not have to be paid at once, but with time this EMI becomes the biggest burden for many people. The worry of paying the installment on the due date every month gradually starts causing mental pressure.
Recently, a video is becoming increasingly viral on Instagram, in which people have been advised to be careful regarding EMI. Amit has shared this video from the Instagram page named Kya Dikkat Hai. In the video, he has tried to explain in very simple and everyday language how buying a big thing on EMI without thinking can create so many problems in the future.
What mistakes do we make?
Amit says that a person can make many mistakes in life, but if any mistake should be avoided then it is falling into the trap of EMI without need and without financial preparation. He says that initially the installment seems small, but when it has to be paid continuously every month, then the real pressure starts being felt. Many times people buy such things which they do not even need at the moment, just by looking at others or to fulfill their desires.
In the video, Amit also talks about people’s dreams. He says that everyone has some dreams. Some want to have their own car, some want to buy their own house and many parents also want their son or daughter to drive a good car and move ahead in life. But if a person spends more than his capacity just to fulfill people’s expectations or to show the society, then the same decision can cause problems later.
He says that the day you buy a new car or any expensive thing, the family becomes happy. Parents also feel proud and you also feel that you have achieved a big achievement. But if the price of that happiness has to be paid by living under stress every month for many years, then that happiness will not last long. Gradually a person starts feeling surrounded by financial pressure.
EMI is tension
Amit further explains that when there is a continuous burden of EMI on someone’s head, it affects not only the pocket but also the mental state. There is no energy in the job like before because there is always worry about how the monthly installment will be paid. It is not easy to live with the fear of what will happen if you lose your job or your income decreases. This stress also starts weakening a person’s self-confidence.
He believes that due to financial pressure many people are not able to concentrate properly on their work. Every decision has to be taken considering financial concerns. Many times even small needs have to be postponed because it is necessary to pay the EMI first. In such a situation, instead of enjoying life, the person is limited to only fulfilling responsibilities.
In the video, Amit clearly advises that if you do not have the financial capacity to buy something at the moment, then it is better to wait a little. If needed, the old item can be used for some time or can be purchased later by adding money. He says that waiting for a few months or a few years is much less than the mental peace we will get in the future.
This video has become a topic of much discussion among people on social media. A large number of people also shared their opinions. Many people admitted that they made a mistake by taking the loan in a hurry and are now facing difficulties in paying the installments every month. One user wrote that everything said in the video is true because he himself is going through this situation and has now understood how important it was to think carefully before taking a decision.
Watch the video here
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