₹1 crore package, three houses, and no ₹15,000 for tax?

Maybe I'm missing something. But I find this story difficult to digest!
According to the post:
- ₹1 Cr+ package for 5 years
- Owns 3 houses
- Couldn't arrange ₹15,000 to pay taxes

And the conclusion is:
"We need more #FinancialLiteracy."

Maybe.

But before discussing financial literacy, shouldn't we discuss basic #plausibility?

Banks don't typically approve multiple home loans based on vibes.
They look at:
- Income
- Existing obligations
- Repayment capacity
- Credit history
- Fixed Obligation to Income Ratio (FOIR) limits

Which means the system has trusted him with crores in loans, but the #influencer expects us to believe he couldn't arrange ₹15,000?

What interests me more is how quickly such stories go #viral.
It has all the components for virality: IITian, High Package, financially irresponsible behavior!

We've seen this movie before:
- The person who lost his house for missing 3 EMIs. https://lnkd.in/de-b758g
- The street vendor earning more than software engineers. https://lnkd.in/dSuVNHqA
- 𝗜 𝗴𝗲𝘁 𝟮𝟱%+ 𝗳𝗶𝘅𝗲𝗱 𝗿𝗲𝘁𝘂𝗿𝗻𝘀 𝗼𝗻 𝗺𝘆 𝗰𝗵𝗶𝗹𝗱’𝘀 𝗲𝗱𝘂𝗰𝗮𝘁𝗶𝗼𝗻 𝗳𝘂𝗻𝗱. 𝗧𝗔𝗫 𝗙𝗥𝗘𝗘. https://lnkd.in/dPqGNpK5
- Earn lakhs using Credit Cards - https://lnkd.in/dNuWY3Yt

Most are exaggerated.
Some are completely made up!
Because every influencer wants to generate engagement!
They know well that emotions travel faster than facts.

One lesson I've learned over the years:
The more a financial story makes you instantly angry, shocked, or feel superior... the more carefully you should examine it.

The internet rewards stories.
Money rewards critical thinking.
The two are often very different things.

#MoneyMinusNoise:
In personal finance, don't just Read and React.
One should Read, Pause, Think, and React!
I work with professionals, help develop this change, keeping them away from the Noise.

What's the most unbelievable financial story you've seen people blindly accept on #SocialMedia?