WTF… Wrist Watch On EMI??

Either I am getting old or there is something seriously wrong with the way our generation has decided to manage their finances. Just last night, I was taking a stroll with my wife in South Mumbai when I saw a board outside a shop –

Wrist watches on EMI
A Ticking (Financial) Bomb On Your Wrist

This shop was selling wrist watches of some good medium-to-high-end brands. And it provided the customer an option of purchasing these wrist watches on EMIs!!
Now I am not saying that this is wrong. But seriously, isn’t it simple common sense to use loans to buy assets rather than wrist watches??

I am sorry that this post is short and a little aggressive. But I could not stop myself from sharing my agony at seeing such a financial crime being committed by young people. I don’t say that one should not indulge in buying what one likes. But there are other ways of buying a watch. Instead of taking a loan and paying EMIs, one can delay the purchase a few months and save money in a Recurring Deposit(or even a simple savings account) and then buy the product. Its that simple.

And this wrist watch thing was not just one-off case. My wife told me that now-a-days, even lady’s handbags are available on EMIs!!!!

I have nothing more to say. Period.



  1. I agree with u…these easy money finances are simply ruining the youth with high adrenaline for fancy gadgets creating streams of debt obligations on them. Worst is creating culture of these kind of indulgence being ok to be with.

  2. It is such schemes that create shareholder value for, say a Titan. What's not to like about this ? Remember, this is a free market and creative destruction always happens, whether someone likes it or not.

  3. From the point of view of companies, its a win-win deal. Definitely. And as you have rightly pointed out, investors of such companies would be quite happy. But as a customer, I think this might not be a pretty good transaction to make. But that would definitely depend on financial status of the customer.
    But such transactions can become a habit. And Chains of habit are too light to be felt until they are too heavy to be broken.

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