‘₹80 lakh Mercedes on ₹2 lakh salaries…’: How YOLO tradition is fuelling dangerous monetary decisions
A Reddit put up describing how younger Indians with modest salaries are shopping for luxurious vehicles has ignited a heated debate exposing the deep monetary dangers some are taking in pursuit of aspirational life.
The put up’s writer recounted a go to to a Mercedes-Benz showroom, the place he discovered that patrons incomes ₹1.4-2 lakh a month are buying autos priced at ₹60-80 lakh. These clients usually make down funds of ₹7-9 lakh and rely closely on loans to fund the remainder. “Signing up for a seven-year slavery contract simply to look wealthy — this isn’t ambition anymore, it’s monetary self-sabotage disguised as YOLO,” the put up learn.
The viral thread sparked a flood of comparable anecdotes. One person stated, “Our maid’s son acquired a job as a salesman with a ₹20,000 wage, and in his first month, he paid ₹15,000 as a down cost for a Royal Enfield Meteor 350. They didn’t actually have a fridge or a cooler at residence.”
One other commenter added, “Similar factor occurred with our maid’s son. He first purchased an iPhone, then a ₹2 lakh bike. I assume it’s their resolution.”
Referencing economist Abhijit Banerjee’s work, a person famous that individuals close to the poverty line typically spend additional revenue on what they think about luxurious items.
Nevertheless, the thread wasn’t one-sided. Some identified that not each flashy buy is reckless. “There’s a factor known as generational wealth,” one person wrote, highlighting how some younger patrons come from financially safe households and do not must prioritise financial savings.
One other defined that many younger professionals stay with their dad and mom, releasing up disposable revenue for private indulgences: “Meals, housing, and utilities are taken care of. They might make investments, positive, however many select to spend it on themselves as an alternative.”
