We trapped ourselves: Data scientist's post on middle class spending sparks debate

India Today

16-06-2025

A LinkedIn post by Mumbai-based data scientist Monish Gosar has triggered fresh debate over how India's middle class manages its money. In his post, Gosar questioned the widely held belief that the salaried class is a passive victim of economic stress, arguing instead that it willingly contributes to its own financial strain.'Unpopular opinion: The middle class is not a victim of the system. They're willing participants,' Gosar wrote, pointing to what he calls a pattern of emotional decision-making and lifestyle inflation.
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To illustrate his point, Gosar shared an anecdote about a friend earning Rs 15 lakh per annum who chose to buy a Rs 10 lakh car through EMIs instead of opting for a Rs 3 lakh used one. 'I deserve it,' the friend reportedly said, a justification Gosar dismisses as a narrative banks want consumers to believe.India's rising household debt forms the backdrop to Gosar's critique. According to him, credit card debt has nearly doubled to Rs 2.92 lakh crore in four years, while personal loans have grown by 75%. 'But nobody forced us to swipe those cards. We did it willingly,' he wrote.Gosar's argument rests on the idea that many salaried professionals have blurred the line between needs and wants. 'We confused wants with needs,' he said, taking aim at car upgrades, iPhones, and aspirational spending habits driven by social media pressures. 'Instagram made us feel poor while earning in the top 10% of India.'advertisementHe also criticised what he sees as a widespread neglect of basic financial math. '36% credit card interest vs 12% mutual fund returns. We chose to pay banks instead of earning from markets,' he noted, adding that consumers often focus on low EMIs without accounting for the high cumulative interest burden.'The system didn't trap us. We trapped ourselves,' Gosar concluded, calling for greater personal accountability rather than solely blaming economic structures or policy gaps.While the post has struck a chord with many on social media, it has also sparked pushback from readers who argue that Gosar's view overlooks stagnant wage growth, lack of social security, and the pressures of urban life.Nonetheless, his core message, that middle-class spending habits deserve introspection, continues to generate conversation