The Silent Trap Keeping Millions In Debt

By Irshad Mushtaq

It's a silent crisis. Many people earn decently, but their bank accounts tell another story. The culprit isn't always poverty. It's often the choices we make in the name of lifestyle.

The trap starts early. You land your first job, and instead of building a cushion, you buy the car. The phone. The designer labels. You don't just live within your means, you stretch them to the limit. Credit cards and loans fill the gap, and suddenly, half your paycheck disappears into EMIs and interest.

What's left? Barely enough to get by, let alone save or invest. And it becomes a loop. The income comes in, the bills go out, and there's no exit ramp.

Add to that a belief system that blames fate:“I was never lucky with money” or“My family was never rich.”

It's easy to feel stuck when you think success only comes to the already successful, or the corrupt. People often eye the wealthy with suspicion rather than curiosity. They assume scams, not smart moves.

This mix of pride, resignation, and denial blocks growth. Advice is seen as judgment. Learning from others feels like defeat. But here's the truth: building wealth isn't about income alone. It's about habits, humility, and hard questions.

The way out starts with a shift in mindset. Drop the ego. Learn the basics. Ask questions. Spend less than you earn. Save before you splurge. And above all, believe that change is possible. Because it is.

Financial stability isn't luck. It's discipline. And the sooner we see that, the freer we become.

• Disclaimer: This article is for information only and doesn't offer investment advice. It's not an endorsement or an offer to buy or sell any financial products. If you decide to act on the information here, you do so at your own risk

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