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 from having the problem?

People are drawn to obtain expensive things even if they cannot afford it. Consequently, buying such items leads them to debt-ridden and impacts their daily lives mentally. In this essay, I am going to discuss the main reasons for this behavior along with some remedies to rectify this issue. Every one nowadays are obsessed with having luxurious goods and gadgets for showing off in their community. Therefore, the main cause for this is the social media where people are always posting about every new belongings that they obtained in a daily basis. This however embarks jealousy on the viewers who ultimately tends to purchase the same things even when they are not capable of buying those. For instance, the craze of iPhone among the society makes all the individuals wanting to obtain it anyhow, by installment or taking loans from bank. Furthermore, the easily available option of credit card in the nation also leads the folks to utilize it inappropriately, buying goods without their unnecessities, and indulging in debt. Hence, the best solution for this unwanted expenses is to make limitation in the use of cards by the banks and government, which will surely shows some improvement among the spending community. Likewise, the self-realization must be developed on one’s mentality and understanding that there is nothing better in spending money uselessly and focusing only on purchasing the required things that are crucial is must. Therefore, a session or counselling must be held in the society for those who waste cash on shopping and made them aware of its consequences as well as teaching them the psychological impact of paying currency. In conclusion, the social media craze should not be hyped and people should be conscious how it effects on the middle-class levels mentally. Moreover, the better utilization of credit card and personal realization for only investing on necessary item is the key to be safe from unwanted loans.