India, July 14 -- A man's warning about buying expensive possessions through equated monthly instalments has sparked a debate online, with social media users sharing sharply divided opinions on whether EMIs are a financial burden or a useful tool for achieving major life goals.

(Also read: 'How do you take risks with EMIs?' Gurgaon man's post resonates with working professionals)

In a video shared on Instagram, the man urged people not to purchase cars, luxury goods or other expensive items merely to impress others, especially when their income does not comfortably support the repayments.

The man, identified as Amit, said, "You can make any mistake in your life, but never make the mistake of getting stuck in an EMI trap. You might have...