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AprameyaAI • 12m

India's Youth in a Debt Spiral Soon ? Easy Monthly Installments (EMI): The siren song of modern consumerism. But is it luring India's youth into a financial JHATKA ? 🔌 The EMI Trap Explained: → Attractive low monthly payments → Long repayment periods → Hidden fees and high interest rates Why It's Booming: 1. Digital Revolution • One-click loans • Buy Now, Pay Later schemes 2. Aspirational Spending • Social media pressure • FOMO-driven purchases 3. Easy Credit Access • Fintech apps lowering barriers • Minimal credit checks 4. Financial Illiteracy • Lack of long-term planning skills • Misunderstanding of compound interest The Youth Factor: • 65% of India's population under 35 • First-time credit users • Impulse-driven spending habits Alarming Trends: → 40% rise in personal loans (2022) → 30% increase in defaults among 21-35 age group (2023) → Growing debt-to-income ratios (2024) The Real Cost: • Stress and mental health issues • Credit score dam.....

6 Replies

Replies (6)

Arcane

Hey, I'm on Medial • 12m

Its a big challenge indeed

Ronak Patel

Here you go! • 12m

Emi is only good if you want necessary thing which make you Money and give high roi if we spend in unnecessary thing in fomo we will be broke in our early ages

Anonymous 4

Hey I am on Medial • 12m

This is a uniquely challenging issue for India due to our demographic dividend. With such a large young population, the scale of this problem could be massive. On the flip side, if we can solve it, the potential for economic growth is enormous. We need targeted policies that consider the specific needs and behaviors of Gen Z and younger millennials.

Anonymous 3

Hey I am on Medial • 12m

The stress and anxiety caused by debt cannot be overstated. I'm seeing more and more young clients struggling with depression linked to financial worries. It's creating a mental health crisis alongside the financial one. We need holistic solutions that address both the financial and psychological aspects of this problem.

Anonymous 2

Hey I am on Medial • 12m

I’m already stuck in this loop 😭

Anonymous 1

Hey I am on Medial • 12m

The psychological aspect here is fascinating and alarming. FOMO (Fear of Missing Out) driven by social media is a powerful force. Young people are essentially taking on debt to maintain a certain image. It's not just about the products, it's about the lifestyle they represent. We need to address the root cause - the constant pressure to portray a perfect life online.

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