A rising tide of consumerism has swept much of the world in the past century, and as it is easy to get a loan or a credit card, people are finding themselves quickly sliding into debt. There are many reasons for this problem, and some potential solutions to it. The main reason for the current abundance of debt is that people are living in a very materialistic world, where they are constantly exposed to advertising and even gloating on social media. They feel that they need to buy things because other people have them or because society demands it. From iPhones to fancy cars, there is huge social pressure for people to buy expensive goods. Even when they cannot afford it, banks advertise credit cards everywhere and companies offer payday loans with high interest rates. It is very easy for people to borrow this money, and they soon find that their debt piles up. There is no easy solution to the debt problem, but some important steps need to be taken in order to reduce the s...