Some people get into debt by buying things they don’t need or can’t afford. What are the reasons for this behavior? What action can be taken to prevent people from having this problem?

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Nowadays, society is more consumerism-orientated than in the past. Strong advertising strategies and lack of
education
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, especially financial
education
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, are two of the main reasons why people buy more than they can afford. One step in avoiding the trap of consumerism could be introducing financial
education
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in schools from an early age, beside a more restrictive loan policy. Consumerism is a wide-spread practice all over the world. People are more focused on buying things than on creating or preserving them in a long term. Individuals are, usually, attracted to buying things they do not need through advertising campaigns on TV or on the streets. Strong vivid colours, beautiful models and shining products create the desire for perfection and success in viewer’s mind.
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, if advertising describes an expensive car as an object that ensures a man’s success in attracting women, he will put himself in any debt needed to obtain that car. In fact, he does not need
such
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an expensive car for being a Casanova.
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, the lack of financial training will determine him to act impulsively, because he does not know how to organize his finances. In order to prevent people from finding themselves in desperate situations, some educational measures would be helpful. If a person is able to value the things in an appropriate manner and he
/
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she is aware of his
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her financial possibilities,
then
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he
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she will be safe from a financial point of view.
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, if a child is taught the value of money and how to spend it efficiently,
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he
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she will not be tempted to buy things he cannot afford.
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, some more restrictive loan policies could,
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, prevent people from buying things they cannot pay later. In conclusion, “easy and fast” buying things behaviour is an important issue of modern society. The aim to success and the tendency to be on trend with the latest lifestyle features put people in the situation of not being able to pay what they have bought by loan.
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, financial
education
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and a more responsible attitude of the banks could be some of the solutions to
this
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problem.

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