Tied to EMI, Education or Home Loans? Ankur Warikoo’s advice on debt management sparks debate: ‘Abolish elections’ | Today’s news

Entrepreneur, investor and content creator Ankur Warikoo has sparked an online debate after sharing advice for people struggling with debt. According to the 45-year-old fin influencer, anyone burdened with EMIs, education loans, home loans or other financial obligations should be willing to give up an expensive lifestyle.

Warikoo called material possessions “chains” and urged those whose debt stems from their own financial decisions to sell unneeded assets. In a LinkedIn post, he wrote: “If the debt is caused by your own decisions, then eliminate those choices. Car, house, phone, everything is a chain! Stop acting like a victim. You have a choice. Use it. If the debt is not because of your decisions, then earn and pay off the loan. You have no choice. Suck it up and work hard to pay it off.”

Warikoo, the founder of WebVeda, shared his advice after a team member asked how to stay motivated when most of the income goes to paying off debt. It’s a dilemma faced by many people who live paycheck to paycheck, with little money left over to invest, travel, pursue personal goals, or simply enjoy life.

He said it discourages a victim mentality, complaining only makes the road more difficult. Instead, he urged people to accept their situation, take ownership of their finances and focus on improving them. Warikoo cited his own experience to back up his point.

“My one net worth day was a minus ₹30 lakh’

“I graduated from ISB at the age of 26 ₹loan for education in the amount of 14 thousand a ₹A business debt of 16k that my father could not afford to pay. My day one net worth was minus ₹30 thousand! It took me 10 years to pay off my debt and get my net worth to zero. It wasn’t until I was 36 that I started building my wealth and living my dream. Now, at 46, I have everything I’ve ever wanted!” Warikoo wrote.

He added that while many people wait for the “right time” to become debt-free before enjoying life, the process can take years. His candid advice on taking responsibility for debt and difficult financial decisions quickly gained attention online.

How did social networks react?

One user wrote: “One idea I’d add is to distinguish between productive debt and lifestyle debt. The former can expand your future earning potential. The latter often limits it. Knowing which one you have changes how you respond.”

Another user commented: “Really curious, was there a specific moment in those 10 years where you almost gave up on the commandment ‘pay it off first, build later’? That discipline is the hardest part that most people skip.”

A third comment read: “One part that stood out to me is the distinction between circumstance and choice. While not every debt has the same story, taking responsibility for the next decision is often where real progress begins.”

A fourth user stated, “Debt can seem overwhelming, but I’ve seen people transform their finances through years of disciplined decisions rather than one dramatic breakthrough. Progress is often quieter than people expect.”