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?”
People are purchasing various products, which are not only an unnecessary but
also
an unaffordable
.Due to impossible to avoid or evade
unavoidable
affordable
this
, people borrow money
from the others which increases their debt .
The major reason is Accept space
.
attraction
Suggestion
attractive
attracted
toward
a materialistic life and the principle action for Suggestion
to
this
is a public awareness campaign.
The main reason for buying needless belongings such
as clothes, electronic gadgets and so on, is the people want to maintain their standard lifestyle in the community.They believe that these products give them a higher social level in their society and a reputation.On the contrary
, these things neither
useful for Accept comma addition
things, neither
them nor
they have enough Accept comma addition
them, nor
money
to purchase.Hence
, people take money
from banks or relatives to buy it and when they unable to pay back they face an issue related to money
.For example
, a survey conducted by the Times Of India found that 30% people borrow money
from others to fulfill
their unnecessary expenditure and fall into debt because of put in effect
fulfil
this
.
The most viable action to tackle this
difficult situation is the government should launch a public awareness campaign to educate people about the dangers of this
behaviour.Without proper knowledge about the harmful consequences regarding this
, people cannot understand its detrimental effects.The government could shed some light on this
condition and stop people to waste their money
.For instance
, the similar initiative in Thailand puts a valuable impact on residents and a number of people who are in debt reduced by 10%.
In conclusion, craze of a materialistic lifestyle is the significant cause of acquiring a redundant items
.Suggestion
item
However
, it can be solved through an awareness campaign by the government.Submitted by vishwa sagar on
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