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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In
this
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era, some individuals can not control themselves, and buy things they can not afford which results in incurring debt. In
this
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article, I will discuss the reasons for
this
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kind of behaviour, and
also
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I will recommend some solutions. The first reason for getting into debt might be advertising. The aim of these advertisements is to tempt people to squander large sums of
money
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to buy the products.
However
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,
this
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trend forces folk to overspend without considering their actual budget.
Thus
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, it causes families to be heavily in debt.
For example
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, some adverts from Apple company make us purchase the latest model of its iPhones, and we usually do
this
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in order to keep up with the Joneses. Having
credit
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cards
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is another cause of overspending.
Credit
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cards
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give confidence to humans, and whenever they see something they do not consider their budget, but
also
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their
cards
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. In fact, having these items results in falling into huge debts.
For instance
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, you can change your house or furniture whenever you want, but you are running up debts from the other side.
Therefore
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, using
credit
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cards
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has its pros and cons, and both have to be considered. In order to solve
this
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problem, many solutions can be recommended.
First,
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children have to be educated on how to spend their
money
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. It can be undertaken through their parents and
also
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their teacher.
Moreover
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, banks and authorities should keep an eye on bank accounts, and the amount of
money
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people are spending.
In addition
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, they can
also
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set a limit to their accounts which can be done based on their history.
To sum up
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,
this
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new trend has some causes and can be managed by some steps. The reasons might be advertisements and facilities
such
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as
credit
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cards
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.
However
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, in order to solve
this
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problem education and monitoring how people are spending their
money
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through banks are suggested.
Submitted by sheida95jahanbekam on

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