The Economic Times

Lavish wedding, Rs 15 lakh loan and zero savings: CA warns about the financial trap his friend will face for 5 years

CA Nitin Kaushik highlighted the financial risks of funding a lavish wedding with debt after a close friend took a Rs 15 lakh loan despite having zero savings. He said 35% of his friends monthly salary could go towards interest payments for five years, turning a short celebration into a long financial burden. Kaushik also warned about peer pressure, luxury car EMIs and lifestyle creep, saying financial discipline becomes difficult when people cannot be stopped from making choices that hurt their finances.