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

Over the

last

few years, because of economic growth, the concept of

consumerist

Correct article usage

a consumerist

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society is becoming more popular. It means that

people

buy much more than

this

is necessary for them. In

this

essay, I will explore the reasons for

this

conduct and the actions that could help to tackle

this

problem. There are several reasons why

people

get into debt to buy

things

that are not essentials for them.

Firstly

, the governments encourage

people

to spend money to buy everything from realty estate to modern household appliances.

This

is because, when

people

spend their disposable income

instead

of saving money, they help different companies to increase their income that results in boost economics and more taxes go to the country’s budget.

That is

why authorities undertake measures to make bank loans are more accessible for the majority of the population. Another reason for increased consumption is likely related to the development of different social networks

such

as Facebook or Instagram where

people

try to demonstrate their superiority through luxury

things

. On one hand,

this

helps them increase their self-esteem,

on the other hand

,

this

prompts others to buy the same

things

or even more luxurious and expensive.

Consequently

,

people

get into a debt trap for a long time.

Finally

, these days,

people

can obtain credit cards easier than before and when many tempting

things

such

as new gadgets, fashion, or

jewelry

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jewellery

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, surround you, it is very difficult to refrain from buying them. The ultimate responsibility for reckless spending lies with

people

. They should learn to plan their expenses and spend money only for necessary

things

with their level of income.

For example

, it could be a budget application where you lay out your expenses for the coming year or month and

then

you spend following

this

plan.

Therefore

, you can control all your expenses and avoid buying unnecessary

things

. To sum up, nowadays, with the development of technologies and financial

institution

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institutions

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people

hardly can resist the temptation to purchase something impulsively that creates for them serious financial difficulties.

However

, wise planning and avoiding spontaneous purchases could help to solve these problems and to prevent mankind from increasing financial burden.