Living above the means is becoming a lifestyle among young people and some people are of the opinion that this is becoming a problem for the populace. Several youths are increasingly buying items that they don't need and can't afford using their credit card to fund such, and this can be reduced by taking actions that may prevent them from going bankrupt. This essay will discuss the reasons for this behaviour as well as how to reduce it.
Firstly, the public is influencing people to take up lifestyles which aren't sustainable. The community has a lot of influence on how we manage our resources and the impact on people is alarming. The community keeps up the pressure of fashion, entertainment, and drugs on people, thereby, making them victims of such. To resolve this, families need to take an inner look at themselves, discussing how to manage their resources by purchasing only items that they need per time instead of bowing to the pressure of buying things that they won't use.
Secondly, humans are insatiable and this has lead to increased debts for many. Living a life of luxury over a life of modesty has become the norm in most places. Everyone wants to live a life that is above their income so as to impress their friends and colleagues at work, leading to an increased debt profile. To prevent this, banks should reduce the level of loans that it gives to its customers by checking their income level to determine the amount of money that can be loaned to them.
In conclusion, an educated and morally inclined society is needed to reduce the burden of debts incurred by citizens of the society and this responsibility doesn't lie with the government alone, but with parents who are responsible for bringing up children worthy of making the community a better place to live in.
Living above the means is becoming a lifestyle among young
people
and
some
people
are of the opinion that this is becoming a problem for the populace. Several youths are
increasingly
buying items that they don't need and can't afford
using
their credit card to fund such, and this can be
reduced
by taking actions that may
prevent
them from going bankrupt. This essay will discuss the reasons for this
behaviour
as well
as how to
reduce
it.
Firstly
, the public is influencing
people
to take up lifestyles which aren't sustainable. The community has
a lot of
influence on how we manage our resources and the impact on
people
is alarming. The community
keeps
up the pressure of fashion, entertainment, and drugs on
people
, thereby, making them victims of such. To resolve this, families need to take an inner look at themselves, discussing how to manage their resources by purchasing
only
items that they need per time
instead
of bowing to the pressure of buying things that they won't
use
.
Secondly
, humans are insatiable and this has lead to increased debts for
many
. Living a life of luxury over a life of modesty has become the norm in most places. Everyone wants to
live
a life
that is
above their income
so as to
impress their friends and colleagues at work, leading to an increased debt profile. To
prevent
this, banks should
reduce
the level of loans that it gives to its customers by checking their income level to determine the amount of money that can
be loaned
to them.
In conclusion
, an educated and
morally
inclined society
is needed
to
reduce
the burden of debts incurred by citizens of the society and this responsibility doesn't lie with the
government
alone,
but
with parents who are responsible for bringing up children worthy of making the community a better place to
live
in.