Swipe, Spend, Repeat: India’s Youth and the Debt-Fueled Dream of “Living the App Life”
There was a time when Indian youth dreamed of owning a house, a car, and a secure future. Fast forward to 2025, and the only ownership they care about is the “owner” badge on Zomato or being the proud swipers of shiny credit cards that scream “Live your best life (on debt, of course)!”.
Let’s talk numbers, shall we? Credit card dues in India have skyrocketed past ₹2.7 lakh crore. That’s not an amount; it’s a collective love letter to impulse buying. And before you say, “But I always pay my minimum due,” let’s clarify: living on credit isn’t a hack, it’s a ticking financial time bomb.
App-tastic Dependency
Our app-addicted youth have turned necessities into luxuries. Want to step out? Rent a cab, because owning a car is too 2010. Hungry? Swipe and order overpriced vegan wraps because cooking dal-chawal is too “middle class.” Need groceries? Blinkit delivers those avocados before you can blink, because who has time for a supermarket when you’re busy posing for Instagram in a café you can’t afford?
We’re not done. Feeling tired from all that app-hopping? Book a massage on Urban Company. Feeling bored? Swipe right on an unnecessary vacation financed by a “quick personal loan” because—YOLO, right?
Borrow Now, Panic Later
The idea of saving has been replaced by EMIs. Why save for something when you can finance it at 48% interest? Millennials and Gen Z have mastered the art of borrowing for everything, from luxury handbags to bachelorette trips. These are not investments; these are overpriced ego boosts.
And let’s talk about personal loans—because apparently, you need a loan to attend that music festival in Goa or buy an iPhone you can show off in an Instagram reel. “It’s an investment in memories,” they say. Sure, and those memories will come with a monthly reminder in the form of an EMI.
The New Age Aspiration: Renting Everything
Owning a house? Too boring. Owning a car? Too much effort. Today, the youth prefer renting everything—cars, furniture, vacations, even happiness (read: therapy apps). The trend is simple: why buy when you can borrow? After all, who needs assets when you have experiences? Just make sure you don’t experience bankruptcy.
These trends have given rise to an alarming shift in borrowing demographics. The 18–30 age group is now the largest pool of borrowers. Why? Because financing their lifestyle through personal loans is apparently the millennial way of “adulting.”
Luxury Over Legacy
There’s also a growing obsession with luxury. Real estate? No thanks. A luxury weekend staycation at a boutique resort? Swipe! Meanwhile, rent is skyrocketing, savings are vanishing, and owning a home is something people dream of when they hit their 40s. But hey, at least they’ve got their avocado toast.
Delusions of Affluence
The issue isn’t technology; it’s the delusion that swiping a card equals having money. This generation lives under the illusion that credit is income. Here’s the truth: credit isn’t wealth. It’s a cleverly disguised chain tying you to debt collectors who won’t care how cool your Instagram feed looks.
And don’t get me started on credit card “points.” Millennials love bragging about their loyalty rewards, as if earning a free coffee justifies drowning in debt for years. Pro tip: the bank isn’t your friend. It’s just smarter than you.
The Price of Living in the Moment
This “live for today” mantra sounds cool until the bill arrives. Default rates among the youth are climbing faster than those overpriced rooftop café bills. Young Indians are maxing out their credit limits and skipping repayments like it’s a game. Spoiler alert: it’s not a game; it’s your financial future, and you’re losing.
The Big Picture
At this rate, the only thing the youth will own in the future is their debt. Want to “flex”? How about flexing some savings? Want to “YOLO”? How about living a life where you aren’t one swipe away from disaster?
India’s young generation needs a serious wake-up call. Life isn’t an app you can swipe away your responsibilities on. It’s time to ditch the unnecessary EMIs, rediscover the joy of delayed gratification, and realize that there’s more to adulthood than financing avocado toast on credit. Because if this trend continues, the only luxury millennials will be enjoying is a lifetime subscription to stress.
