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

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Nowadays, it is very common to see many
people
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get into debt because of their
behaviour
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. In
this
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term, they like to buy
things
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that they do not need and cannot afford.
Therefore
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, in
this
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essay, I would like to examine the main reasons behind
this
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trend and the solutions to tackle
this
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problem as well as the plausible conclusion regarding that matter.
To begin
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with, in
this
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modern era, when the power of social
media
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and the internet is so strong and
people
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cannot avoid them, it is very easy for
people
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to get envy by the possession of other folks.
This
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feeling is one of the reasons why they want to buy
things
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that are not necessary for them.
Furthermore
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, they want to look richer and happier through social
media
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, so that, they buy some expensive matters just to prove that.
As a result
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, their friends are jealous about that thing which is what they want and they will do anything just to get that.
For example
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, there is a Korean influencer that likes to show her valuable
things
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, and many young generations are so craving to get that possession. For that reason, these youths use their all savings just to buy that, even though it means they have to get into debt.
Then
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, in a short-time period,
this
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activity becomes a boomerang for the young generation in Korea.
Hence
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, the feeling that originally appear in human and the show-off
behaviour
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through social
media
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are the biggest factors why
this
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trend is so common among modern society.
Therefore
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, the actions that we need to tackle
this
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issue is to alter your time from using social
media
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to something
that is
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productive.
For instance
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, in
this
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pandemic situation, many
people
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stay at home and use the internet and social
media
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more frequently than they used to in the past. If we do the same thing, we just end up with our desire to spend much money on
things
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. So, it is better for us to do gardening that can reduce your time from playing phone.
Secondly
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, the important solution is to develop a thankful feeling for what you have right now because everyone has their own fate and it can not be denied or fought. By doing so, you can eradicate your envy feeling and focus on what you do and have. In a nutshell, jealous feeling and show-off activity are the reasons why
this
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behaviour
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occurs. In order to eliminate that, developing a thankful mindset and alternating your free time to do something more productive can be the solutions to prevent
this
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behaviour
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.
Submitted by michellina594 on

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Topic Vocabulary:
  • consumerism
  • financial literacy
  • impulse buying
  • credit score
  • debt management
  • sustainable living
  • emotional spending
  • budgeting skills
  • peer pressure
  • retail therapy
  • frugality
  • credit limit
  • financial counseling
  • minimalistic lifestyle
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