From iPhone to car, everything on EMI! Middle class is spoiling its own financial future, know expert’s opinion

Indian loan trends: There has been a lot of change in the lifestyle of the Indian middle class in the last few years. Especially if we look at the pattern of expenditure on expensive weddings, phones, cars, clothes and other things by taking loans, it has increased. People have now started considering these expenses as their necessity. Due to which their dependence on loans and EMIs is increasing day by day.

According to a report by India TV, chartered accountant Nitin Kaushik has expressed serious concern over this trend. He has said that spending money by Indians in this way can become a threat to the financial health of the country. According to Kaushik, the middle class is now spending like this not for its own needs but to impress others. Due to which their loan burden is increasing.

What does the data say?

Nitin Kaushik said that in India, about 70 percent of iPhones and 80 percent of cars are purchased on EMI. Which clearly shows that common Indians are choosing show off instead of saving money. They want to look stylish only through loans.

Giving further information, Kaushik said that today every second Indian is stuck in some debt, be it personal loan, car loan or credit card dues.

Surprising figures of personal loan

A report by Business Today revealed that from 2023 to May 2025, Indians have taken personal loans of more than Rs 3 lakh crore. A large section of the loan takers are employed youth. Besides, the number of demat accounts also increased to more than 19 crores.

Giving an example, Kaushik said that an investor made a profit of 40 percent by investing in small cap shares with personal loan money. On which he believes that this can be a very dangerous step. Due to which severe financial disaster can also occur in future. Therefore, people should avoid such elections.

Kaushik also talked about the mentality of taking a loan. He said that rich people take loans to create assets or for business. At the same time, the middle class gets burdened with debt to fulfill its demands. If loan is taken for education, home, business and other important things, it helps you in future.

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