3 Things To Consider Before Buying A Luxury Item
Last Update Date: 06-10-2026
Published by Outlook Money
Abhishek Kumar's role: Quoted
Abhishek Kumar suggested keeping total EMIs below 30% of monthly income. He cautioned buyers to check loan terms that let the lender reset the interest rate, since a higher rate raises the EMI.
More of Abhishek's views on money management
The article sets out questions to ask before buying a luxury item, especially on EMIs: whether it fits a budget, whether it is a need or a want, and what borrowing will cost. It warns about fees, penalties and the risk of falling into a debt trap.
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3 Things To Consider Before Buying A Luxury Item