₹1 Lakh Salary, No Savings — The EMI Trap Indians Ignore

A high income does not automatically mean financial strength.

Many Indians are earning well, but still feel financially stressed because most of their salary is already committed to EMIs, rent, lifestyle upgrades, loans, and family responsibilities.

In this episode of The Long Game, I speak with Megha Bang about the real money problems Indian households face — especially when people look financially successful from the outside but have very little savings, emergency fund, insurance, or investing discipline.

We talk about:

• Why high income does not always reduce money stress
• How people get trapped in phone EMIs, car EMIs, home loans, and personal loans
• Why total EMIs should ideally stay around 40–45% of income
• Why home loan EMI should ideally stay around 30–35% of monthly in-hand income
• What to check before buying a house
• Why dual income does not automatically mean you should take a bigger home loan
• Why upgrading lifestyle after promotion can become a trap
• The basics every household should fix: budgeting, emergency fund, insurance, and investing
• What money conversations couples should have before marriage
• Why Indian families avoid talking about money with parents
• NRI money mistakes around bank accounts, property, taxation, and compliance
• Why ULIPs often fail as both insurance and investment
• The warning signs that your lifestyle is controlling you

This conversation is not about looking rich.

It is about becoming financially strong.

If you'd like to share your story with us, please fill out the form: https://forms.gle/Ha9nEbXyJWm3ow4x7 If you would like to connect with us and share your feedback, please drop an email at financewithmihir@gmail.com