Some people get into debt by buying things they don’t need and can’t afford. What are the reasons for this behaviour? What action can be taken to prevent people from having this problem?”
Many people are putting themselves into debt in order to buy unnecessary and unaffordable things. The primary reason for this phenomenon is fashion trends prevailing in the market and the most viable solution is the education of living in moderation. Trends in fashion encourage buying the latest gadgets and clothing for no reason to And even which is out of their reach. When some new products are launched into the market, people get fascinated to purchase them under the influence of social media and their relatives. Therefore, they do not want themselves to be behind at any cost. For example, my bed friend had a gorgeous iPhone 8plus, but after she noticed the latest version iPhone 11 pro on Facebook she immediately orders it ever it was too expensive just after launch. A long term solution to this predicament is to educate young people about the dangers of the following fashion insanely and getting under the pressure of high bills. Children in schools could be taught about how to become self-disciplined about their buying choices. They are likely to teach their parents about the things they learned at school and adults will also be influenced by this initiative. For example, school children in Germany were taught the lessons of self-control which resulted in 30% of students were less attracted by the things they offer in the examination. In conclusion, the major problem of youngsters spending excessive money on useless and expensive commodities is because of trends prevalent in society and this problem can be tackled by teaching them the importance of being moderate.
Submitted by Sandeep Gharu on