Essay topics: Many people prefer to spend money and not save it. What are the reasons? Is this a positive or negative development?

Nowadays,
people
are becoming more consumerist compared to past years.
As a result
,most
people
tend to spend a huge amount of
money
to be materialistic rather than saving them. I believe that
this
can impact
people
's lives negatively.
This
problem has been profoundly discussed and I will discuss my point of view in the following paragraphs.
To begin
with,
people
buy a lot of items to show off and make others believe that they are rich.
In addition
,purchasing branded items is considered a major aspect of social status. By doing
this
, most consumers end up in huge debt and
this
leads them to attempt suicide or other criminal offences.Youngsters are influenced more by these trends. To illustrate,In India number of malicious actors are reported in day-to-day news and the majority of culprits are youth ,they do
this
in search of fulfilling their needs.
Secondly
,excessive materialistic behaviour and the use and throw habits of
people
affect a harmonious environment.
Besides
, manufacturing and usage of large amounts of products create air and water pollution.
As a result
, it becomes vulnerable to the spread of various diseases and without having proper financial stability
people
might struggle to get adequate treatment. To exemplify,during covid -19 pandemic a lot of
people
died without adequate treatment and
money
for the same. To conclude, even though
this
competitive society builds unwanted desires in us,we need to handle our
money
and save it for future life. By doing so,we can live a harmonious life.
Moreover
,governments all around the world must take initiative to make
people
aware of the requirements of
money
management.
Submitted by deepumolvarghese5 on

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