Chained to EMIs, education or home loans? Ankur Warikoo's advice on managing debt sparks debate: ‘Liquidate choices’

Entrepreneur, investor and content creator Ankur Warikoo has sparked a debate online after sharing advice for people struggling with debt. According to the 45-year-old finfluencer, anyone burdened with EMIs, education loans, home loans, or other financial commitments should be willing to let go of expensive lifestyle choices.

Calling material possessions “chains”, Warikoo urged those whose debt comes from their own financial decisions to sell unnecessary assets. In a post on LinkedIn, he wrote, “If the debt is due to your own choices, then liquidate those choices. The car, the house, the phone, all are chains! Stop acting as the victim. You have a choice. Exercise it. If the debt is not due to your choices, then earn and pay off the loan. You have no choice. Suck it up and work hard to pay it off.”

Warikoo, founder of WebVeda, shared the advice after a team member asked how to stay motivated when most of one's income goes toward repaying debt. It is a dilemma faced by many people living paycheck to paycheck, with little money left for investing, travelling, pursuing personal goals, or simply enjoying life.

Discouraging a victim mindset, he said, complaining only makes the journey harder. Instead, he urged people to accept their circumstances, take ownership of their finances, and focus on improving them. To reinforce his point, Warikoo cited his own experience.

'My day one net worth was minus ₹30 lakh'

"I graduated from ISB at the age of 26 with a ₹14 lakh education loan and a ₹16 lakh business debt that my father couldn't afford to pay. My day one net worth was minus ₹30 lakh! It took me 10 years to pay off the debt and bring my net worth to zero. It was only at 36 that I started building my wealth and living my dream. Now, at 46, I have all that I ever wished for!" Warikoo wrote.

He added that while many people wait for the "right time" to become debt-free before enjoying life, years can pass in the process. His candid advice on taking responsibility for debt and making difficult financial choices quickly drew attention online.

How did social media react?

A user wrote, “One idea I'd add is to distinguish between productive debt and lifestyle debt. The first can expand your future earning potential. The second often limits it. Knowing which one you're carrying changes how you respond.”

Another user remarked, "Genuinely curious, during those 10 years, was there a specific moment you almost gave up on the 'pay it off first, build later' order? That discipline is the hard part most people skip."

A third comment read, “One part that stood out to me is the distinction between circumstances and choices. While not every debt has the same story, taking ownership of the next decision is often where real progress begins.”

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