Monday, July 19, 2010

Living in the EMI era

Came across an advertisement by Levi's which says that now people can buy apparel from them on EMI (Equated Monthly Instalment). Levi's has a tie-up with a certain bank and a purchase with this designated bank's credit card will let buyers pay in EMIs.

And this situation doesn't seem funny considering that a decent pair of denim from this brand would cost anything around Rs 3000 -4000. Many will advice that if this brand is so expensive then why buy at all. However, a quick market survey will sensitise you that almost all decent brands cost the same. And remember I'm not talking about premium brands like Tommy, D&G, Gas. 

Given the way everything is becoming expensive day by day, may be we'll soon see banks offering loans for daily commodities - like denim loan, vegetable loan, loan to take your family out, loan to get your house painted, loan to pay another loan. AHHH.... this list continues.


aarkay said...

Living on credit is a western concept and therefore is not to be followed blindly. For us- cut your coat according to your cloth- still holds good . Remember the recent global melt down . Our saving habit saved us and we were able to withstand the evil effects of the recession.

Yojana said...

@aarkay - Hey thanks. You rightly said that savings helped Indians tide thrugh recession. My dad always says that what you save is what you earn in real terms. Otherwise huge CTC doesnt mean anything.