Diwali spending: 5 ways to manage EMIs and avoid a debt trap
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Festive shopping often leads to heavy EMI burdens that hurt household budgets.
- ✓Experts suggest separating planned purchases from impulse buys to avoid debt traps.
- ✓Shruti Aggarwal said consumers should distinguish between planned purchases and impulse buying.
Story at a Glance
- Category
- BUSINESS
- Reported By
- cnbctv18
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Easy credit options during festive seasons make it tempting to pile up EMIs, risking household budgets and long-term savings. Experts advise separating planned purchases from impulse buys, evaluating total borrowing costs, and monitoring combined monthly obligations.
Diwali spending often includes purchases such as smartphones, appliances, clothes and holidays. With instant personal loans, pre-approved credit limits and buy now, pay later (BNPL) options making credit easily accessible, consumers can spread these expenses across monthly instalments.
However, multiple purchases on EMI can add to existing financial commitments and put pressure on household budgets.
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