A few years ago, it was rare to see a luxury object on an average Indian. And when this happened, it often praised endless. Then the mentality was simple: people preferred to build fixed deposits or invested in the property of splashing luxury goods. For many people, a designer handbag found his way into his wardrobe only through a relative returning from the US or Britain.

However, things have now changed. Coach handbags, hermes flats, or Gucci belts are no longer rare vision. General Z and Millennials are buying more luxury items and proudly adding them to their collection.

But where is the money coming from? It is all about buying and paying later. But is this habit really good for them?

Rise of credit culture

Traditionally, luxury means patience and privilege. Today, it often comes with an EMI scheme.

Anmol Sharma, a businessman and finance material manufacturer, tells Today India At a broad macro level, the rise of credit is actually healthy for the Indian economy. “If India has to grow, credit growth will have to increase, because the loan, when well managed, acts as a catalyst. It accelerates aspirations, helps people achieve their goals faster, and fuel consumption-operated growth.”

However, he proceeds to explain, at the individual level, uncontrolled borrowings for luxury consumption can be dangerous.

“If purchased on EMI without much discipline, it highlights individuals. Suddenly the recession can quickly give rise to financial stress or even bankruptcy, as no buffer is left to fall back,” they say.

It is appropriate to say that this is a generational change. Older generations focused on basics-Bread, capids, housesToday’s generation, went beyond those essential things, luxury and aspiration of experiences.

Sharma said, “Social media is a big reason for the rise of luxury on EMI. People to keep in constant contact for glamorous lifestyle ‘” to keep people’ ” ” ” ” ” ” ” ” ” ” ” ” ” ‘”.

A report by Snap Inc. and Boston Consulting Group states that General Z with 377 million people in India, already 43 percent of the country’s expenses, is about 860 billion dollars, which is scheduled to reach $ 2 trillion by 2035.

From influencing their habits, authenticity and visuals to affect family procurement, they are explaining how brands should connect with consumers.

NISM-certified finance material manufacturer, Garvit Goyal agrees that a major factor that brings luxury in common sports is the rise of social media, where people show only creamier side of life. This hits the insecurity of the audience, indicating them to involve them in buying luxury for themselves.

“Luxury has currently moved from the decades of savings to experience it, with the ‘Live in the Now’ motto of the current generation. And all this is easily accessible through flexible EMI plans and now buys the leaf -fiber facilities,” he tells us.

From legacy to experience

The luxury once stood for heritage and heritage, to do something, cherish, and even passed through generations. But Sharma feels that today, this experience is rapidly defined by the situation and aesthetics. Social media has fuel this innings. People do not just want to be the owner of luxury; They want to share it.

Goyal also feels that the meaning of luxury has now moved more towards experiences. “There is a great example of this, which has pop up in India in Tier -1 cities, where people invite 12 to 15 guests for food. It is not only about food, but also about stories, music, sports and connections. The fees for these SP clubs start from 2,000 and go up to 4,200 per person.

Luxury has become about what can be shared and seen, not only in private.

Accelerated satisfaction

Advisor Psychiatrist at Estter CMI Hospital, Bengaluru, Dr. According to Divya Shri KR, this tendency to sprinkle luxury is closely associated with satisfaction.

Earlier, luxury means waiting, plan and saving before buying something special. That waiting period made the purchase feel even more valuable. For General Z and Millennials, the mindset has shifted from ‘I will wait for it’ to ‘I wast it now’.

“While it gives a feeling of quick happiness and achievement, it can also reduce the correct value of luxury. Accelerated satisfaction pushes people to spend more quickly, sometimes without thinking about long-term effects. Therefore, luxury on EMI is not just about access, it is also how modern society likes the pace and comfort on how modern society likes.

Small payments, big dreams

It seems easy for a person living in the month -door, it seems easy to divide a handbag of Rs 60,000 into 12 payments of Rs 5,000. These small installments can hide a large picture, which makes expensive items seem cheaper.

“This is the clever trick. Big brands have played to catch the Indian consumer,” says Goyal.

He explains that India has always been a price-sensitive market, where every money spent should feel worth it. Dividing a luxury item into monthly installments can make it seem inexpensive, but it is really just an illusion, and even if brands can promote features such as no-cost EMI, hidden fees are often involved.

In addition, Dr. Divya Shri KR says that the psychology of small installments plays a big role here. When a large amount is divided into small installments, the total cost seems less scare. People compare EMI with their regular monthly expenses and think, ‘This is inexpensive.’

At that moment, the focus converts from the entire price to a smaller amount, which leads to luxury items. However, this mentality can sometimes be misleading.

While the installment feels light, the overall expenses are still high, and the additional EMIs can pile quietly. It creates a rest area where people take more than as they feel.

Meanwhile, Sharma tells us that nothing is naturally wrong with this approach, provided that it is done with responsibility.

“As a rule of thumb, your total EMI should not exceed 30 percent of your monthly income, or very at least, you must have enough savings to cover the purchase lump sum. In this way, even if you are paying through installments, you have peace of mind that you can return to savings when necessary,” they said.

financial result

• More expenses: Easy EMI wooed people to spend beyond their means, encouraging lifestyle that income cannot always support.
• Recession: Fixed EMI can become a heavy burden during job loss or financial crunch. Over-saliver leaves very little space for safety.
• Buying for the show, not needed: EMI can justify useful purchases, but buying luxury items only to live is financially mindless and is often unnecessary.
• Impact on credit score: Missed or delayed EMI can damage the credit score, reduce borrowing capacity and increase future interest costs.
• Multiple Emis trap: A single EMI may feel manageable, but spends several -across gadgets, holidays, and lifestyles – quickly reduces financial flexibility and does not leave a backup in an emergency.
• Loss of savings discipline: Traditionally, luxury requires savings over time. Credit gives up that discipline, increases quick satisfaction and weakens long -term financial habits.

Psychological results

• Emotional expenses: Easy credits make it attractive to celebrate, tension deal with stress or buy a situation.
• Increasing dependence: Regular use always makes a habit of desireing more without any need.
• Stress and crime: Conflict to repay can cause anxiety, shame and even less self -esteem.
• Material Link for Happiness: Excess dependence on property for self-values ​​can disturb emotional balance in a long time.

Burden

Experts say that the pressure to maintain a certain image or lifestyle is one of the biggest drivers of repeated credit purchases. The adventure of buying a luxury item often often remains only in the moment of purchase. If you can actually tolerate it, it is okay to be involved once at a time. But if not, keeping yourself under the burden of EMI for something non-essential only creates unnecessary stress.

A simple way to manage such an urge is to stop. If you entice to buy some materialists, wait for a week. In most cases, the craving passes, and you protect yourself from purchasing an impulse that you really did not need.

Additionally, ‘you live only once once’ mentality may look attractive, but without saving, investment, or without a financial cushion, even a single slowdown can cause serious problems.

Ground level

There is a noticeable change in priorities between younger generations, which are now investing more in luxury and experiences rather than only saving and safety. EMIS expensive shopping with inexpensive looks, it has become easier to take designer accessories, gadgets, or even premium holidays.

Although this is not necessarily bad, the risk begins when the use of credits turns into a habit, causing overseasing and financial stress. Whatever seems to be manageable earlier, it can quickly affect saving, long -term stability and even mental health.

Important lies in balance; EMI to enjoy luxury in moderation without controlling its lifestyle.