Some people get into debt by buying things they don’t need and can’t afford. What are the reasons for this behaviour? What action can be taken to prevent people from having this problem? Give reasons for your answer and include any relevant examples from your own knowledge or experience.

Due to

the rising consumption rate, many people start to buy things they do not really need, and can not afford. In my essay, I am going to think over

this

problem,

while

I try to find the reasons behind

this

habit. Many people buy items, especially a variety of luxurious goods they do not particularly need. Owning something is a basic instinct, that can be used by marketing experts to sell their products.

Due to

the growing presence in social media, famous influencers can earn serious money, showing their ‘rich’ life to their fans. After watching their beloved stars, the audience starts to buy expensive wristwatches or jewellery, that they could not really afford. Examining the reasons, there is another key factor, that makes it easier to buy something without real money. Credit cards like American Express, are often given for free to customers to drive them into debt. When I got my first bank account, I

also

got a credit card with a limited amount, which was almost the same as my whole salary, and I remember it was always emptied out

at the end

of the month. In conclusion,

this

is dangerous because people can easily get as many loans, as they can not be paid back. In my opinion, governments should give more attention to

this

tendency, and more serious regulations are needed in the banking sector to prevent placing out not affordable loans. Extra taxes given to social media advertisements which take place in the content of influencers would

also

be a quick and easy solution.