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?”

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People are purchasing various products, which are not only an unnecessary but
also
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an
unaffordable
impossible to avoid or evade
unavoidable
affordable
.Due to
this
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, people borrow
money
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from the others which increases their debt
.
Accept space
.
The major reason is
attraction
Suggestion
attractive
attracted
toward
Suggestion
to
a materialistic life and the principle action for
this
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is a public awareness campaign. The main reason for buying needless belongings
such
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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
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, these
things neither
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things, neither
useful for
them nor
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them, nor
they have enough
money
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to purchase.
Hence
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, people take
money
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from banks or relatives to buy it and when they unable to pay back they face an issue related to
money
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.
For example
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, a survey conducted by the Times Of India found that 30% people borrow
money
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from others to
fulfill
put in effect
fulfil
their unnecessary expenditure and fall into debt because of
this
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. The most viable action to tackle
this
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difficult situation is the government should launch a public awareness campaign to educate people about the dangers of
this
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behaviour.Without proper knowledge about the harmful consequences regarding
this
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, people cannot understand its detrimental effects.The government could shed some light on
this
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condition and stop people to waste their
money
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.
For instance
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, 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
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, it can be solved through an awareness campaign by the government.
Submitted by vishwa sagar on

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