New Delhi, Sept. 25 -- Equated Monthly Instalments (EMIs) can result in making purchases easier to manage. Still, multiple instalments can gradually consume a large chunk of your monthly income. What generally starts as a comfortable, easy-to-manage way to spread payments can eventually turn into a serious cash-flow problem without efficient planning. It could leave little room for savings, emergencies or other financial obligations.

The best way to combat such a difficult situation is not necessarily to stop borrowing altogether. It is to acknowledge the debt you already have, prioritise expensive loans strategically, and ensure that new EMIs do not pile up.

To successfully overcome EMI trap-related problems, it is vital to quickly lea...