A lot of people nowadays are spending too much money and they don’t save anything for future use. Is this a positive or a negative development?

In today's world opting for luxury lifestyle is the fundamental right of everyone and
thus
they are availing it in the form of buy luxury items. A myriad of society has the perception that luxurious life patterns can be achieved through massive spending. My standpoint and observation hereby affirm that
this
trend
harbors
a sheltered port where ships can take on or discharge cargo
harbours
multiple negative implications rather than positive ones.
This
essay will elaborate on
disturbance
to a personal budget and a vicious circle of debt. The fundamental despondency associated with
extravagance
Suggestion
extravagant
spending is the
disturbance
of personal budget which in turn will force towards compromise social life to balance out the budgetary
disturbance
caused by overspending.
For example
, my work-life colleague lenient towards sports brands,
thus
by fulfilling his thirst for iconic sports material force him toward compromise life standards because of budgetary
disturbance
. Another deleterious effect of spending a significant amount of cash is none other than a vicious circle of debt.
Too
Suggestion
To
put it in another way, too much of misspending will lead to
pointless purchases pattern
Suggestion
a pointless purchase pattern
pointless purchase pattern
and
thus
will find themselves in tremendous financial debts, As
result
Suggestion
a result
the spender will not be in the position to pay off the amount of liability standing at his account.
For example
, the majority of the credit card holder is not able to pay back the debt they create because of their spendthrift
behavior
manner of acting or controlling yourself
behaviour
, generally, to pay back the financial obligation require a significant amount of time. On the whole, relating any constructive mechanism to the overspending seems not only difficult rather entirely impossible.
This
trend is pushing many people towards budgetary
disturbance
and the vicious circle of debts.
Submitted by afrasiabkhan50 on

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