These days, many people buy new products even if they can not buy and fall into debt. Do you think this culture is good? What should we do to prevent such a culture?
The culture of consumerism has been rising these days. With the rapid development of information, and technology many
items
are introduced every day, in the same ways companies are advertising creatively to entice consumers. The advertisements entice many people to become eager to buy even if they do not have enough budget to purchase. In this
essay, I will examine the reasons for such
a tendency and the needful actions to be taken to cope with the problems.
Since there is sharp growth of capitalism many lucrative items
have been introduced in the market with quite fascinating advertisements. For example
, mobile phones, gadgets, laptops, fashionable clothing, furniture and so on. The rich can afford to purchase such
items
but the poor can not. But due to the increasing culture of using new models, everyone wishes to buy these items
in spite of their low economic status. Such
a trend may lead to a debt burden to the person and will have a detrimental impact on society and the country.
Governments should take appropriate action to cope with such
problems. For example
, governments should spend their efforts on public awareness. Moreover
, the course of proper financial management training could be introduced in schools and colleges. Furthermore
, training programmes,
and television programmes Remove the comma
apply
also
can be conducted. Additionally
, financial institutions also
can be tight in providing loans for unnecessary purchases. They should lend loans only for genuine reasons. Besides
, the person also
should be aware of his/her financial situation and his/her ability to expenses.
In conclusion, being overburdened with loans in an individual's life can lead to bankruptcy which may be very traumatic in the life of an individual. Such
a situation may have detrimental impacts on society. The introduction of proper policy and public awareness could be an important tool to reduce the risks.Submitted by dhrubabhattarai18 on
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