Some people get into debt by buying things they do not need and cannot afford. What are the reasons for this behavior? What action can be taken to prevent people from having this problem?
Some
people
splurge lots of money
on unnecessary and unaffordable stuff. It leads them to get into debt. I think this
is rooted in over-advertising and financial literacy, but there are some solutions.
Firstly
, advertising marketing is widespread on social media. Pervasive advertisements
just accentuate the benefits of products, which causes people
will be tempted to buy dispensable stuff. This
means that they promote a consumption culture so that people
spend money
extravagantly and get into debt. The way to address this
problem
is that authorities will curb advertising companies. It can result in they will not advertise indiscriminately. For instance
, nowadays TV programs broadcast advertising frequently, which causes people
to be constantly exposed to the danger of pervasive advertising. The authorities should prohibit excessive broadcasting of advertisements
on TV. In conclusion, people
will not see excessive advertisements
, so people
will not be affected by them. Therefore
, they will not expend too much money
on unnecessary and pricy things.
The second reason that causes this
problem
, is financial literacy. Some individuals are not aware of financial management to overcome instant shopping pleasure. They cannot preserve their budget and extravagant a lot of money
. Finally
, they fall into the trap of buying too much. For instance
, some people
cannot calculate their income and expenses, so they constantly splurge money
on their interests. To counteract this
problem
, children from an early age should be taught how to manage their budget and save money
for the future perspective. For instance
, financial education units should be added to school curriculums. This
will allow them to learn new knowledge to manage their budget and will not waste them.
In conclusion, I think over-advertising and financial literacy are the reasons for this
problem
. However
, it can be solved by some measures like curbing too many advertisements
and teaching children in
an early age at school.Change preposition
at
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