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

In recent times, most of people buying goods on lease and with attention cards which put them into financial obligation.

However

, there are various reasons as society, marketing strategies and materialistic possession. Some of things that people can do address these problems

such

as strict laws and motivation. For a number of reasons, most of people are facing loan issues due to flaunting status.

This

is to say that, with the help of social media people showing their luxury lifestyle to each other because of the fiercely competitive world and they have constant pressure to live up to expectation through buying costly things which they can only afford by leasing them or lending a loan. For demonstration, people give respect to them who got material possession in their society. On top of that, people are becoming victims of false promises made in advertisements. By

this

I mean, Most of the Television channel uses a glamorous way of displaying various products by using animated design and graphical images to sell the products which make people run out of money. To illustrate, Brand

such

as Adidas, channel always takes famous celebrities to show their outlet which always attracts consumer to buy it.

Nevertheless

, there are several things which can be done to solve

this

huge issue. One of them is

a

Suggestion

A

clear regulation regards the issue of credit cards and payment plans offer.

In other words

, regulated bodies should check credit score and financial asset of people who want to owe loan to protect them from adverse effects and must be ensured limit given to them must be aligned with their income.

For example

, banks always checks, savings, asset and fixed income for

last

9 months while issuing the credit card to their customers.

Moreover

, creating awareness among people will be valued booster. Government should create some motivational program to divert people from shopping malls to other places

such

as gyms, library and charity organization which can be beneficial for them and others too. In conclusion, too much attraction towards materialism and competition bounds us to buy unnecessary things, but it can be controlled by self satisfaction and with governmental actions

such

as providing more public facilities.