EMI = 'Every Month I Cry'. After paying 36 instalments and finally free, man says he did charity in hilarious social media post

Nothing hurts quite like the final EMI. A Reddit user recently shared his hilarious and painfully relatable experience of paying off a 36-month loan, realising just how much extra he’d ended up giving to the financial institution. Calling it an unintentional charity, he reflected on his journey of financial naivety, math miscalculations, and hard-earned lessons. His witty take on loan life and the emotional toll of monthly instalments quickly caught the attention of social media, sparking laughter and empathy from fellow users.

The man revealed that he had borrowed Rs 1,98,751 over a three-year tenure, only to end up paying a total of Rs 2,90,253. That meant he effectively gifted Rs 91,502 to the lender, dubbing himself the “Founder & CEO of Donation Finance Pvt Ltd” in jest. With an APR hovering around 30%, he admitted that his younger self had been blissfully careless, signing the loan under the assumption that “future me” would handle the payments.

Reflecting on the ordeal, he noted that while his loan was finally closed, the experience had taught him some hard truths about financial discipline. From indulging in café lattes to switching to humble cutting chai, he joked that EMIs had reshaped his lifestyle overnight. Sharing his story, he invited others to recount their own money misadventures, creating a humorous yet relatable conversation about the trials and tribulations of managing personal finances.

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While one shared that they once took a loan of 3 lakhs and have since vowed never to take another, not even a no-cost EMI. They’ve set a personal rule: if they don’t have at least double the amount of what they want to buy, they won’t make the purchase. One recounted their dumbest money moment involving a 2 lakh credit card bill. Even though they had the money, they didn’t pay it in full to avoid breaking their SIPs for the month. They initially calculated the interest at 5,000, which seemed acceptable, but the next month the bill included an extra 12,000 in interest and GST for all expenses over the previous 50 days. This taught them that missing a full payment can erase the benefit of a free borrowing period. Despite being a decade-long credit card user with good reward points, they saw the 12,000 as a hard-earned lesson and took comfort in the rewards they had enjoyed over the years.