Some people get into debt by buying thing they do not need and cannot afford. What is the reason for this behaviour? What action can be taken to prevent people from having this problem?

Many
people
using a
debit
carddebit
Correct your spelling
card debit
card debt
card
to acquire possession which is unnecessary and out of their reach. There are a number of reasons which I will discuss in the upcoming paragraph and describing the reasonable solution for
such
situation
Correct article usage
a situation
show examples
. In
this
fast-paced ,
senario
Correct your spelling
scenario
everyone like to obtain expensive clothes and luxury life.No doubt that these development make the human life easy but
on the other hand
it is a kind of burden.
Firstly
,
people
using a
debit
card
for getting new and high-priced possession for taking and uploading pictures on various social media
such
as Facebook,Instagram,TikTok and so on.
Secondly
, the significant growth of many elite Malls, that attract the masses in spending money on jewellery, branded clothes and gadgets.
Lastly
, with the apply of
credit
card
people
who have an average range of salary will
also
obtain branded things. Buying unnecessary things using the
debit
will lead to a serious problem for many of the cardholders. There are many things that
people
could do to mitigate the problem. One of several reasons is that there should be provided with a clear regulation about a
credit
card
that must be followed by banks and financial institution, regarding the process to get a
credit
card
. To ensure that every individual must have a limited amount of access to
credit
card
according to their income.
Moreover
, for adding more malls into the cities
instead
, the government should build more parks and children playgrounds.
Therefore
,
people
should have more options for entertainments
besides
going to
shopping
Add an article
the shopping
a shopping
show examples
center
Change the spelling
centre
show examples
. To be concluded, it is true that
Add a hyphen
public-facing
show examples
public
Correct article usage
the public
show examples
facing any problems with the apply of
debit
for obtaining luxury and fancy goods. To solve
this
problem, the government should build more recreational parks or area where
people
should spend their time
instead
of malls.
Submitted by mandeepsandhu7067 on

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Topic Vocabulary:
  • Consumerism
  • Impulsive purchasing
  • Financial literacy
  • Debt management
  • Budgeting skills
  • Credit facilities
  • Emotional spending
  • Therapeutic shopping
  • Fiscal responsibility
  • Credit card debt
  • Financial education
  • Social status
  • Retail therapy
  • Economic behavior
  • Spending patterns
  • Compulsive buying
  • Financial solvency
  • Advertising influence
  • Societal expectations
  • Long-term consequences
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