What to Read Next

Love in the time of EMIs

Yahoo Lifestyle Entertainment
11 February 2013
Woman with piggy bank

With two earning members, nuclear families, burgeoning consumerism, availability of better products and services, wider career options and fat salaries - the drive is shifting from 'save more' to 'earn more'. Rather than 'retain', we are increasingly looking to 'update'.

Our unlimited ambitions are being funded by innovative financial institutions and instruments. If all these are signs of a progressive economy, they are also looming threats for those far removed from realities. Financial facilities were conceived to make aspirations affordable, not to entrap us into a lifetime of depression.

Unmanageable debts can take a heavy toll on our relationships. So, if you are on a borrowing spree to make your loved one happy, BEWARE. You may find yourself in a situation like Sameer and Diya.

The strange case of Sameer and Diya

After courting for three years, and being married for five years, Sameer and Diya were staying separately, often fought publicly and were contemplating divorce. The irony is that both were passionately in love with each other. Strange?

Well, complicated.

The couple bought everything on their checklist through a super scheme that allows affording things without full payment. It's called EMIs (Equated Monthly Installment) scheme. Their home resembles a showroom. No, they were not selfish to buy things for their own selves. On the contrary, they bought products for one another: car, smartphones, LEDs and so on.

Sameer had a contractual job that occasionally rendered him unemployed and Diya suddenly on whim, decided to quit her steady job to pursue her 'dream career': Acting.

This, after they had already bought a flat on a loan: matters reached their nadir when Sameer secretly sold off his wedding ring to pay towards one EMI. He was too embarrassed to do anything else as his in-laws and parents had paid off some installments. Small tiffs led to bigger conflicts and eventually matters spilled out of control till Diya moved out.

It would be easy to dismiss them as fools, but poor planning and unforeseen circumstances played the villain in their lives. The good news is Sameer has landed a permanent job in December, and is out there to woo Diya back.

Using EMIs to advantage

Love brings out the best in smart people. College sweethearts Gayatri and Nikhil married despite gentle resistance from their family. To ensure financial stability, Gayatri juggled her final semester with a full-time job while Nikhil single-mindedly focused on studies.

They married immediately after post-graduation and Nikhil started his own business. The couple pumped money into the venture through bank loans, but Gayatri's steady job ensured the EMIs were being paid on time. Their argument was simple. The monthly percentage returns on their business were greater than the interest rate on EMIs. Their success mantra: "Borrow to build. Reap to repay."

The business operations stabilized in about two years. Following the birth of their daughter, Gayatri quit her job and joined her husband full-time. Both run a successful marketing firm in Pune, with branches in Mumbai and Ahmedabad.

Love brought them together; love is still the driving force of Nikhil and Gayatri's business.

Once upon a time

Once upon a time, 'to love in marriage and till death' was a simple concept.

By simple, I don't mean things were easy - yet they were quite straightforward. Couples got married at a younger age, usually only one member earned the income and the other spouse managed the household with astute financial prudence. In a patriarchal society like India, it typically meant the husband's 'competence' was determined by his ability to generate cash flows, and the wife's 'skill' lay in stemming the outflows. It was an intimate bond - one dependent on another - one ineffective without the other.

I rarely saw my grandparents exchange lengthy conversations. Both were busy - nani in the kitchen and nana outside. As kids, we grew up among plenty of books, sweetmeats and festivals. Looking back, it must have been a challenge for them to put up the show for us. Nana was a salaried employee who retired early, and nani brought in the extra bucks through jugaad. Nana was a magician at fixing things, while his wife could make tons of pickles and papads at will. Cash-in-hand was might; dreaming through EMIs was like chasing a mirage. Indulgence was a sin, frugality was a virtue.

But thrift did not mean romance was compromised upon. The couple made six children, one every two years.

Six kids? Really, a lot has changed over the past few decades. 

How do you handle your loans and installments?  Should love blind you to the extent of being illogical? Is it then, true love? Share your views by posting a comment below.

Is your insurance comp Laughing Behind Your Back?

New Studies Show that if you drive less than 55 miles a day you can save a ton on auto insurance.

Banks Are Worried Homeowners Will Do This.

Homeowners are surprised and furious. If you owe less than $625,000 on your home, you better read this.

VA Mortgage Rates In 2016

VA Rates as Low as 2.75% (3.028% APR) 15 Year Fixed. Exclusive For Veteran & Military Takes 1 Min!

Insane Navy Seal Flashlight, should it be banned?

The Military has recently released technology that is now available to the public. Get yours before they run out - Limited Supply!

Heartburn Facts

Read About Heartburn Facts From TUMS. Check Out Heartburn History, Who Gets Heartburn and More.

Drivers With No Tickets In 3 Years Must Read This

United States drivers are surprised that they never knew this. If you drive less than 50 mi/day, you better read this...

Buying Medicare Supplement Plan F? Read This First

Plan F is the most popular Medicare Supplement plan, but there's another Medigap option you should consider.

You Need To Read This Before Buying Medigap Plan F

Plan F is the most popular Medicare Supplement plan option, but there's another plan you should consider.

Names Are Searched 2M Times A Day. Is Yours One?

Entering a Name and State on this site could reveal info you thought wasn't available. Have you searched yourself or someone you know yet?

Delta Reserve Credit Card

Earn Up To 40,000 Medallion Qualification Miles. Apply Now!

Is an Online Degree for You? Find Out!

Is an online, competency-based degree program from WGU the right choice for you to earn that bachelor's or master's? This quiz should help!

Kid sleep troubles email series for moms

We get it. We’ve been there. Sign up for our email track to learn how to handle kids who won’t go to sleep or won’t stay in bed.

Toddler tantrum email series for moms

We get it. We’ve been there. Sign up for our email track for advice on how to handle different situations that may arise with your little one.

Heartburn Symptoms

Common Symptoms of Heartburn Include Burping and Bloating. Learn More About the Common and Uncommon Heartburn Symptoms You Might Be Experiencing.