A lot of people have actually kind of taken the fast route to getting all the things that they want, wether it is a new car, the house, whatever else they want and I am guilty of this fact too as I have indeed bought a few things which was out of my Financial Capacity at that point of time. That's because were just borrowing it and hoping to pay it later down the road.
We're basically getting debt, which you can get like a lot of debt right now and quite easily if I may add. And that's something that we can't see. We can see the typical things that they're buying with the debt, but we cannot see this debt, which can last on people's for years or sometimes lifetimes if they fail to pay their EMIs on time.
And it's not just the big things. There's stuff like a firm where you can buy things on Amazon. You buy a t-shirt or a blender or whatever, and you're making payments on that for years on just the everyday things which you previously had bought directly via Cash. So even the small things can sometimes be financed and you would have no idea how those small things pile up the charges and lead you to a financial disaster loop.
So sometimes it might seem like there are some people doing better than you. They're spending all this money, but in reality, they don't even have the money for it and all of it is done under the guise of EMI and that is something you can't see.
