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?

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Over the
last
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few years, because of economic growth, the concept of
consumerist
Correct article usage
a consumerist
show examples
society is becoming more popular. It means that
people
Use synonyms
buy much more than
this
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is necessary for them. In
this
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essay, I will explore the reasons for
this
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conduct and the actions that could help to tackle
this
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problem. There are several reasons why
people
Use synonyms
get into debt to buy
things
Use synonyms
that are not essentials for them.
Firstly
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, the governments encourage
people
Use synonyms
to spend money to buy everything from realty estate to modern household appliances.
This
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is because, when
people
Use synonyms
spend their disposable income
instead
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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
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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
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as Facebook or Instagram where
people
Use synonyms
try to demonstrate their superiority through luxury
things
Use synonyms
. On one hand,
this
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helps them increase their self-esteem,
on the other hand
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,
this
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prompts others to buy the same
things
Use synonyms
or even more luxurious and expensive.
Consequently
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,
people
Use synonyms
get into a debt trap for a long time.
Finally
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, these days,
people
Use synonyms
can obtain credit cards easier than before and when many tempting
things
Use synonyms
such
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as new gadgets, fashion, or
jewelry
Change the spelling
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
Use synonyms
. They should learn to plan their expenses and spend money only for necessary
things
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with their level of income.
For example
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, it could be a budget application where you lay out your expenses for the coming year or month and
then
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you spend following
this
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plan.
Therefore
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, you can control all your expenses and avoid buying unnecessary
things
Use synonyms
. To sum up, nowadays, with the development of technologies and financial
institution
Fix the agreement mistake
institutions
show examples
people
Use synonyms
hardly can resist the temptation to purchase something impulsively that creates for them serious financial difficulties.
However
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, wise planning and avoiding spontaneous purchases could help to solve these problems and to prevent mankind from increasing financial burden.
Submitted by alkirina on

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