Financial freedom in India is a dream of millions of working people.
Some want a better life with better living standards; some want to be free from all the personal or family debts, and others try to get out of the monthly EMIs trap.
But it’s not that easy! Because the whole financial system runs on this, not only in India, but everywhere else in the world.
Their business runs on this trap concept.
In this digital era, trapping you is dead easy.
They use 360° approach to reach out to you personally through your phone.
They will call you multiple times a day. Even though you block one number, thousands of other phone numbers are there to disturb you again and again.
They’ll approach through WhatsApp broadcast campaigns. Blocking one channel once is not enough.
Display ads, banner ads, Gmail promotional emails and such 100 different ways are used by them to trap you in multiple ways.
When you intend to buy some appliances or gadgets for your home, the first thing you find in all ecommerce platforms is easy installments and credit card EMIs.
Even physical stores in your city doesn’t recommend you buy products with cash. Rather no cost EMI, Finance options are sold to you. Because interest makes their income a lot higher than the product cost itself.
When you go to Amazon to buy, Let’s say a mobile phone.
In the price section, you’ll see the monthly installment price in big bold highlighted way, to make your brain get confused and trapped with such way that the product cost will look you cheaper.
They’ll make the original price lot smaller and hiding somewhere in the body content.
This disguise system is even promoted by the so-called influencers and creators who you subscribed on YouTube, Instagram and regularly follow for new updates and trends.
Because ad revenue is not enough for them. Their primary income comes from Affiliate marketing. Where they earn commission on each product you purchase through their affiliate links in the YouTube description or the Instagram bio.
This is all vicious all round cycle.
Your 50,000 rupees product becomes 60-70 thousand rupees after converting the purchase to a monthly equated installament.
Here everybody is benefitted in looting you. The store, the influencer, and the banking or the NBFC institution.
Even if you fail to pay the EMI in any month due to shortage in funds in your bank account, they charge a big, hefty amount as a penalty and even decrease your credit score, to preventing you from taking any other loans in the future.
The whole new job ecosystem convinces your brain that buying this in EMI is Normal! You colleagues, seniors, boss and your whole surrounding would be paying EMIs every month.
Because the corporate doesn’t want them to leave their organization, because if they’re financially free, they can leave the company whenever they find a better opportunity elsewhere, but if they’re trapped in EMIs, they even don’t dare to search for any new job at all.
The Indian Society forces the newly placed individuals who are in their 20s and 30s in a whole new level. they force them and brainwash every single day to have a house of their own. The real estate is now in a untouchable sphere.
A person who is even earning 1 lakh rupees is also not capable buying a house for their family. The black currency economy in India makes the prices of houses and real estate too much higher.
Even in a remote village, where there’s a no facility of any employment, healthcare and proper education, land values are touching the sky every other year.
So, in the end, if they want to get married, they’re forced to buy a home and get trapped in home loan for next 20-30 years!
And the biggest thing here is that, they even don’t know where they’ll be staying in the city/places for their rest of life or not, Because they don’t know if or whether the get any better opportunity in any other city, it would be most difficult for them to migrate due to a real estate bound to their wallet and continous hefty EMIs they’ve to pay every month and societal presuure on the top.
Even many middle-class families get education loans to educate their children for higher studies. Even though the higher education in India is totally fucked up in itself, in the era rapid changes and AI takeover, the skills matter the most.
But the education system is still stuck in 1990s. The influencers and so-called teachers brain wash the students in their teens to prepare for the exams whose vacancy per year is less than 1000.
Isn’t it a shame? We’re deliberately making our country and its youth unemployed in the name of coaching and preparation for government exams and hurt the GDP and economy in a bigger way.
The Marketing also plays a great role here. The whole advertising industry, whether physical or digital, is playing on whole new level to target the lower- and middle-class families through TV, offline marketing and digital marketing as well.
So shall we stop buying?
No! Rather buy when you’re capable of buying with upfront full cash.
Instead of instant gratification, have patience and go for delayed gratification.
Do you really need that product? the newly launched bike, car, phone etc?
If you delay the purchase, if the product not that necessary eventually, you’ll lose the interest to buy it, and if it’s making you purchase the product, then I’ll recommend buying with full cash. If you don’t have cash, take from your parents, siblings, friends or relatives, but at any cost please avoid EMIs.
If you don’t want to ask anyone, then just wait till you gather the full amount for the purchase, work hard, work upon your skillset, grow your income and after working multiple months, get the thing you desired for.
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