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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Nowadays, high status matters a lot in society and
therefore
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,
people
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get into debt by buying unnecessary
things
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which are not affordable. The following essay will give a detail explanation of the reasons and actions for the behaviour. The main reason behind
this
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behaviour is that the public is competing with each other for showcasing high status in
community
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the community
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.
For example
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, a person wants to buy a large home even though he already has a house but that house is smaller in size and the main reason is that he wants to showcase his high status in society and for, that he is ready to pay the loan.
Moreover
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, some
people
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also
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desire to buy a car even if it is not necessary because they want to compete with
people
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who have
high
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a high
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income.
In addition
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to that, nowadays, many children make use of mobile phones at a very young age and the only reason behind the attitude is that they want to
showoff
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show off
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in front of others. For an instance, a child who is rich makes use of mobile phones which are very costly and the children who are from
middle class
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middle-class
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family cannot afford them and so, they force their parents. There are many actions that can be taken to avoid the behaviour.
Firstly
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,
people
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should balance their budget and according to
that
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,that
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they should buy
things
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. To illustrate,
people
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should buy
things
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first
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which are necessary and
then
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go for unnecessary
things
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and which is only possible when savings are maintained. To conclude,
people
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should buy
things
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first
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which are important and will prove beneficial to them and after
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this
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,this
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they should go for
things
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which are not crucial and
that is
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,only if, they have saved some money.
Submitted by manasiparmar97 on

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