Some people get into debt by buying things that they don't need and can't afford. What are the reasons for this behaviour. What actions can be taken to prevent people from having this problem?

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In
this
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contemporary world, newer and advanced gadgets come on the market everyday.While some individuals are greatly influenced by those materialistic things that they purchase
such
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devices despite of no use, and sometime they even take debt to buy those items.
This
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essay will examine the reasons behind
this
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rising trend which includes the influence of the adverts as well as the measures that can be taken to tackle
this
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issue. The major cause of the increasing consumerism is the greater impact of the advertisements on the mindset of people.Since in the modern era, there is a stiff competition among the manufacturers,
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therefore to
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therefore, to
endorse the sale of their products, they present their products in an attractive manner, which in turn, leads to the consumerism where people buy those expensive items in spite of being useless.In India,
for instance
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, children and housewives are most vulnerable to these advertising companies, so these ads mostly target them.To elucidate, advertisements should be held responsible for
this
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consumerist society which compels the people to buy
such
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items which are not affordable. The solutions to prevent the community from getting into debt are not simple.
First
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of all, the government should impose restrictions on the ads' companies and must make some rules and regulations so that these firms would show authentic information about their products and those who convey wrong knowledge to the customers must be punished.In several countries,
for example
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, customers can go to the consumer court and they can file complaint against the manufacturer in case of any fault and misinformation.Henceforth, the authorities should issue guidelines for the advertising company and make strategies to protect the rights of the customers. In conclusion,
although
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the problem has taken an immense place in the community and
further
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forcing individuals to borrow money from their relatives and friends.
This
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is mainly due to growing ads, but effective methods to overcome
this
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should be taken by the government to regulate their activity.
Submitted by kajalmaan.16 on

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Topic Vocabulary:
  • Debt accumulation
  • Consumerism culture
  • Financial literacy
  • Impulse buying
  • Emotional spending
  • Social status pressure
  • Financial mismanagement
  • Credit accessibility
  • Budgeting skills
  • Spending habits
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