Great Pay packages problems

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Hi all, This is what great / huge pay packages are teaching us. Isn't it that we are going too fast. Once we get good pay we start dreaming bigger than our package and ends with huge EMI's. Now there is a guy who is admitting that 85 % of his monthly salary goes into paying his EMI's. Say if he is earning Rs. 100 PM then he is left with only Rs.15 in his pocket. Above all he is degree holder form IIM, Ankit, what does does this degree teaches you ?? Does it taught that once you get good pay you should buy things on EMI's ??