Many people prefer to spend the money they get rather than save it for their future. What are the reasons? Is this positive or negative development?

Modern people would like to lavish wealth on extravagance rather than reserving it for future needs. While there are numerous reasons for the luxurious phenomenon, I would argue that

this

trend indeed has adverse consequences. Many individuals tend to buy goods impulsively for two principal reasons.

Firstly

, they believe extravagant items are perhaps an excellent way to indicate their affluence. Significantly, the marketing industry enchants its customers by linking products with intellectual and wealthy influencers. On social media, like Facebook, numerous rich kids show up their high-tech iPhones and the latest fashions, in order to create an illusion of their happiness.

Secondly

, in contemporary society, several adults squander money for relaxation purposes due to their exhausting workload. It is noticeable that adults enjoy their evenings by shopping or indulging in fancy dining, which helps them energise after a long day at work. On the one hand, the consumption society effectively boosts the economy. A wide range of goods are required, so numerous jobs are created.

On the other hand

, impulsive purchases would result in disenchantment among the community, particularly youngsters who are target consumers of the marketing industry. Today’s youth waste money on goods and games which they think would potentially bring them happiness;

however

, many cases fail to fulfil their dream.

Moreover

, children might form a habit of passively consuming everything, similar to how they saw parents spending wealth in their formative years. In conclusion,

although

several factors contribute to the lavish lifestyle, I believe

this

tendency is an indisputably negative development for personal fulfilment matters.