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?
To shop or purchase goods is a pleasure activity for majority of people. Unfortunately, in some cases, consumers end up to buy items that they actually don't need and even don't affordable for them then lead to financial crisis and debt. I believe that the consumptive life styles as well as easiness offer to buy by e-commerce trends are the main reasons for this phenomenon. However, a well-managed finance introduced to society and advanced standard for credit card holder would plausibly help people to avoid this issue.
In this modern era, it is a generally accepted that societies, particularly those who live in urban area, are suffering from consumptive and hedonism way of life. They tend to shop easily and often without consider the purpose and the cost of products they taken. It doesn't even problem since they can transact without cash money as most of them having credit card. Of course in this scenario, advertisement also plays an important role to persuade them purchasing goods whether or not is essential and affordable for them. In addition, e-commerce, or online shopping also a predominant factor of people behaviour to extravagantly shopping because it is offer easiness for buyers to pick items from list on the fascinating online shops then order and just wait until it delivers to their accommodation with no need for them to leave their activities or business. This obviously helpful for them who have not enough time to directly go to retails but have desires to purchase. As the consequence, as easy to buy things as less concern they are about the payment which then arise trouble when they chained by a great debt.
Nevertheless, I would argue that if citizens get information and education about finance management they would carefully arrange their budget on unnecessary shopping. Thus better if they take the assistance from finance adviser or firm so that they can step by step reduce their consumptive behaviour. Another important to concern is the using of credit card. As now most people use this as their main payment method, bank should strict the regulation and standard to their client so that those who utilize it are surely those who have a stable finance and able to pay the bills. By this, excessive purchasing of users would no longer a problem as they can afford the credit payment.
In sum, I believe that the trend of online shopping and consumptive lifestyle as the reason why people tend to buy goods that are unnecessary and unaffordable for them. However, good finance managing and restriction on credit card using are possible as the measures to tackle this.
What action can be taken to prevent people from having this problem?
To shop or purchase goods is a pleasure activity for majority of people. Unfortunately, in some cases, consumers end up to buy items that they actually don't need and even don't affordable for them then lead to financial crisis and debt. I believe that the consumptive life styles as well as easiness offer to buy by e-commerce trends are the main reasons for this phenomenon. However, a well-managed finance introduced to society and advanced standard for credit card holder would plausibly help people to avoid this issue.
In this modern era, it is a generally accepted that societies, particularly those who live in urban area, are suffering from consumptive and hedonism way of life. They tend to shop easily and often without consider the purpose and the cost of products they taken. It doesn't even problem since they can transact without cash money as most of them having credit card. Of course in this scenario, advertisement also plays an important role to persuade them purchasing goods whether or not is essential and affordable for them. In addition, e-commerce, or online shopping also a predominant factor of people behaviour to extravagantly shopping because it is offer easiness for buyers to pick items from list on the fascinating online shops then order and just wait until it delivers to their accommodation with no need for them to leave their activities or business. This obviously helpful for them who have not enough time to directly go to retails but have desires to purchase. As the consequence, as easy to buy things as less concern they are about the payment which then arise trouble when they chained by a great debt.
Nevertheless, I would argue that if citizens get information and education about finance management they would carefully arrange their budget on unnecessary shopping. Thus better if they take the assistance from finance adviser or firm so that they can step by step reduce their consumptive behaviour. Another important to concern is the using of credit card. As now most people use this as their main payment method, bank should strict the regulation and standard to their client so that those who utilize it are surely those who have a stable finance and able to pay the bills. By this, excessive purchasing of users would no longer a problem as they can afford the credit payment.
In sum, I believe that the trend of online shopping and consumptive lifestyle as the reason why people tend to buy goods that are unnecessary and unaffordable for them. However, good finance managing and restriction on credit card using are possible as the measures to tackle this.