Indian households are running into debt like never before. Amid the festive shopping frenzy and easy access to credit, a sobering reminder from personal finance influencer Neha Nagar has sparked debate about the nation’s growing dependence on borrowing. Nagar highlighted a startling trend — 70% of iPhones in India are purchased through loans, while 80% of cars are financed via EMIs. Advertisement

This rise in consumer credit reflects a deeper shift in India’s financial behaviour. As aspirations grow faster than incomes, more Indians are turning to debt to fund lifestyles rather than build assets. However, experts warn that not all loans are created equal — some can build wealth, while others quietly destroy it.

“The wealthy use loans as leverage to build assets,” as finance author Rober

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