New Delhi, Oct. 14 -- With Diwali approaching, many households turn to personal loans to fund their celebrations. Borrowing can help meet short-term expenses and reduce financial stress. But here's the catch - when used carelessly, it can also lead to long-term debt and repayment pressure.

Experts caution that personal loans should never be treated as a source of easy money. They're useful for bridging immediate financial gaps, but impulsive or high-risk spending can turn them into a burden.

Vikkas Goyal, Founder, Rupee112, says, "During Diwali, personal loans should be used wisely. Avoid using them for speculative investments, high-risk purchases, or to cover habitual expenses. Misusing credit can lead to repayment stress and financial...