Stuck in a debt cycle? 5 ways to get out of EMI trap and regain control of your finances
Borrowers can escape the EMI trap by assessing their total debt, prioritizing high-interest loans, and avoiding new borrowing. Raj P Narayanam, Executive Chairman of Zaggle, advises that if EMIs exceed 40% of monthly income, one is over-leveraged. Implementing these strategies can help regain financial control and prevent future debt accumulation.