A LinkedIn post by Mumbai-based data scientist Monish Gosar has stirred debate about how India’s middle class handles its finances. In his post, Gosar challenged the idea that the salaried class is simply a victim of economic pressures. Instead, he argued that many middle-class individuals voluntarily make financial decisions that worsen their situation.
“Unpopular opinion: The middle class is not a victim of the system. They're willing participants,” Gosar wrote.
To support his claim, he shared a story about a friend earning ₹15 lakh per year who bought a ₹10 lakh car through EMIs instead of a ₹3 lakh used one. When asked why, the friend said, “I deserve it.” Gosar criticized this mindset, suggesting that it’s encouraged by banks and consumer culture.
He highlighted rising household debt in India, noting that credit card debt has nearly doubled to ₹2.92 lakh crore in four years, and personal loans have grown by 75%. Gosar pointed out that this debt wasn’t forced — people chose to take it on.
He argued that many salaried professionals confuse wants with needs, driven by social media and peer pressure. “Instagram made us feel poor while earning in the top 10% of India,” he wrote.
He also criticized poor financial awareness, comparing 36% credit card interest with 12% mutual fund returns. “We chose to pay banks instead of earning from markets,” Gosar added, urging people to look beyond just EMIs and think about long-term costs.
Gosar’s main point is about personal accountability. “The system didn’t trap us. We trapped ourselves,” he said.
The post sparked a mixed reaction. Some supported his message, saying it's time the middle class took responsibility for its spending habits. Others pushed back, arguing that Gosar ignored issues like low wage growth, lack of social security, and the high cost of living in urban areas.
Despite the debate, his post has clearly touched a nerve and has kept the conversation going around financial choices and middle-class priorities in India.
