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By:

Sayli Gadakh

11 November 2025 at 2:53:14 pm

Life on EMIs: Convenience or Financial Pressure?

Financial freedom is not about owning everything today; it is about the ability to choose tomorrow. Bharath, a 34-year-old salaried professional in Pune, earns Rs 85,000 a month. On paper, he’s doing well. He owns a 2BHK apartment, drives a decent car, recently upgraded to a premium smartphone, and his home is filled with modern appliances. But by the 25th of every month, his bank balance is close to zero. Where does the money go? A closer look reveals the answer: EMIs. Rs 32,000 for a home...

Life on EMIs: Convenience or Financial Pressure?

Financial freedom is not about owning everything today; it is about the ability to choose tomorrow. Bharath, a 34-year-old salaried professional in Pune, earns Rs 85,000 a month. On paper, he’s doing well. He owns a 2BHK apartment, drives a decent car, recently upgraded to a premium smartphone, and his home is filled with modern appliances. But by the 25th of every month, his bank balance is close to zero. Where does the money go? A closer look reveals the answer: EMIs. Rs 32,000 for a home loan. Rs 11,500 for a car loan. Rs 4,000 for a personal loan taken during a family function. Rs 3,200 for a smartphone on EMI. Add to this a couple of credit card minimum payments, and over 60 per cent of his salary is already committed before he even begins to spend on groceries, fuel, or utilities. Bharath’s story is not unusual; it is the new normal for many middle-class families. Over the last decade, easy access to credit has transformed consumption patterns. With just a few clicks, you can “afford” things that once required years of savings. Zero down payments, no-cost EMIs, and instant approvals—these offers make purchases feel light on the pocket. But what often goes unnoticed is the long-term burden they create. From a chartered accountant’s perspective, the problem is not EMIs themselves. In fact, certain EMIs, like a reasonably planned home loan, can be part of healthy financial planning. The issue arises when EMIs start funding lifestyle rather than assets. There is a fundamental difference between productive and consumption EMIs. A home loan, if within budget, builds an asset. An education loan can enhance earning capacity. These are investments in your future. On the other hand, EMIs for gadgets, vacations, or luxury items often depreciate in value the moment you buy them—yet you continue paying for them long after the excitement fades. This is where many middle-class earners fall into what I call the “EMI illusion". Because the monthly payment looks small, the purchase seems affordable. But affordability should not be judged by whether you can pay the EMI; it should be judged by whether it fits sustainably within your income and goals. A simple rule many financial experts recommend is this: Total EMIs should ideally not exceed 30–40 per cent of your monthly income. Beyond this, your financial flexibility starts shrinking rapidly. In Bharath’s case, crossing the 60 per cent mark has left him vulnerable. One unexpected medical expense or a temporary loss of income could push him into a debt spiral. Another common oversight is committing to EMIs without building an emergency fund. Equally concerning is the role of credit cards. Many individuals treat the “minimum amount due” as a safety net. In reality, it is a costly trap. Interest rates on unpaid credit card balances can go as high as 30–40 per cent annually, silently compounding the burden. So, is an EMI-driven life a convenience or financial pressure? The answer depends on discipline. EMIs can certainly make life convenient. They allow you to access necessities when needed and spread out large expenses. But without boundaries, they quickly turn into financial pressure, restricting your choices, delaying your savings, and increasing stress. For middle-class families aiming for stability, a few practical steps can make a significant difference. Before taking any EMI, ask whether it is a need or a want. Ensure you have at least three to six months of expenses saved before committing to new debt. Avoid taking multiple small EMIs simultaneously, as they add up faster than expected. Prioritise closing high-interest loans, especially credit card dues. Most importantly, focus on building savings and investments alongside repayments. Financial freedom is not about owning everything today; it is about the ability to choose tomorrow. Bharath has now started reassessing his finances. He has postponed further purchases, begun prepaying his high-interest loans, and is working towards creating an emergency fund. The journey may take time, but the direction has changed. And that, perhaps, is the real takeaway. Because in the end, the goal is not just to live a comfortable life but to live one that is financially secure. (The writer is a Chartered Accountant based in Thane. Views personal.)

Barvi dam, Tulsi Lake overflow; water woes end

Badlapur: The Barvi Dam, operated by the Maharashtra Industrial Development Corporation (MIDC), began overflowing, bringing much-needed relief to Thane district. With the reservoir now at full capacity, concerns over drinking and industrial water shortages across the district have been resolved.


Barvi Dam is the primary water source for almost all municipal corporations, municipal councils, village panchayats, and industrial zones in Thane district. Its water is crucial for meeting both civic and industrial demand, which is why the reservoir’s filling is closely monitored each monsoon season by residents and government agencies alike.


This year, the dam began filling earlier than expected. Unseasonal showers in May, along with the early arrival of the monsoon, reduced evaporation losses and raised hopes of an early overflow. However, rainfall slowed in July and during much of August, delaying the process. Meteorologist Abhijeet Modak had forecast stronger rains from mid-August, and consistent showers over the past few days rapidly raised the water level. By Friday, the dam was 98 percent full, and by Saturday morning it was just a few centimeters short of its full height of 72.60 meters.


According to the MIDC’s Barvi Dam office, the reservoir reached capacity by 3:25 p.m. on Saturday, with water now being discharged at a rate of 4 cusecs per second. The MIDC had already issued precautionary alerts to villagers and local administrations along the Ulhas River. Authorities confirmed that with the river’s water level currently low, there is no risk to nearby villages from the controlled release.


With the Barvi Dam now full and overflowing, the perennial water anxieties of Thane’s residents and industries have, at least for this year, been laid to rest.

With heavy rains lashing Mumbai and its suburbs, the Tulsi lake, one of the seven reservoirs supplying drinking water to the metropolis, has overflowed, a civic official said on Sunday.


The Tulsi lake, situated in the Sanjay Gandhi National Park in suburban Mumbai, started overflowing at around 6.45 am on Saturday, the official said.

The seven reservoirs, which supply water to Mumbai, have more than 90 per cent water stock now, the official from the Brihanmumbai Municipal Corporation said.


Tulsi is the third reservoir which has overflowed after the Tansa and Modak Sagar dams, due to heavy rains in their catchment areas.

This year, the Tulsi lake overflowed almost 26 days later compared to last year, when it became full on July 20, the official said.


Tulsi is the smallest of the seven reservoirs that supply potable water to Mumbai and has a storage capacity of 8,046 million litres. The city gets 18 million litres of water from the lake every day.


“The catchment area of the lake has been receiving rainfall in the last few days, as a result of which the lake overflowed on Saturday,” the civic official said.

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