varavu ettana selavu pathana-EMI MONSTERS

dear il friends,

EMI (Equated monthly instalments) is the most popular word in the world in this mod world.There are times when people even would hesitate to utter the word
'credit'(kadan).Our fathers and grand fathers bought homes only at the age of 40 that too with their savings as major share.

Today while talking to my friend,she told about the people going behind the credits to upgrade their living conditions in us.

Emis for everything(house,car,sofa,fridge,tv.......foreign travel,even for investing in shares..list is too long).Emi for house is ok because we are buying an asset worth of which is more than the debt.

Now people settle at the age of 25 with house,car,all luxuries(everything on emi).If a man sees his friend going in a bigger car,he immediately sells his old car to buy a new one bigger than his friends car.
your value is decided not on the basis of your personal values but on the basis of your standard of living.

This trend has reached its peak even in india.Are we going on the right path.

Dear friends share your views on this.

Dear Kamala

Dont ask me about this..........we are sailing in the same boat........we pay almost half of the salary for EMI'S.......but focourse, after planning well ....we will buy everything......we own everything.but not the real owner........

No other go...we have to change ourselves....i feel nothing wrong in getting.......in some period of time we will become its actual owner ........ but based on to their repayment capacity one must get all those credits........ we will never plan for anything if we cannot pay.....since we dont want to invite unnecessary trouble and problems.......

But one valid poin in this is......person getting settled with house, car and land with the EMI scheme ( by the age of 25.)...increase his committment and responsibility also......and it will be very helpful for them to settle in life before their child gets matured.........so he can spend rest of his life peacefully also........

dear latha,

Thanks for your views.As you said getting settled(using debt)at the age of 25 would increase the responsibility and commitment only when it is within the capacity.i have seen people changing their sofas and other things and even cars once in two years to show themselves in their society.This would end up paying emis only,throughout their life time.This is high in US.here they casually say 'i have 30000 dollars debt' even before marriage.this is alarming i feel.

Dear Kamala,
Good to discuss on this..I'm in the category of paying EMI for house as well as car.But, we planned well and have availed loan well within our payable capacity...so kinda able to breathe easy...Its so privilent among us( i mean agegrp.25-30) that we are in an urge to settle down ASAP.I agree there are people who like to show off by changing cars..but most of us are compelled to do,coz of the rise/hike in prices in everything and anything.Also, the jobs these days demand too much than what our parents have done.Everyday i stretch almost 10hrs at work.So we all(25-30 age grp.) feel that our earning capacity and health wud not allow us to work after say 45-50 yrs.Our food habits are worse and late night working has already taken a toll on health,I'm sure most of them wud agree to this.To sum up, i wud say there may be some who are in the show off category, but MOST wish to settle down due to the need of the hour!

dear aishu,

Nice to see your responsibility at this young age.When i saw my friends here in us, i was very much worried.They are unable to come home (india)because of their debts.Sure there are people who are very smart.They don't fall prey to this luxury living.
I can under stand the pain in your words.
May god stand by you.

Thanks Kamala.Very true. If planning is not done, we are a sure prey to the "EMI MONSTERS"..The pain in my words is beyond explanation...thanks for understanding..

Originally Posted by vkrithika1

dear aishu,

Nice to see your responsibility at this young age.When i saw my friends here in us, i was very much worried.They are unable to come home (india)because of their debts.Sure there are people who are very smart.They don't fall prey to this luxury living.
I can under stand the pain in your words.
May god stand by you.