In many countries, as people are earning more these days they are also spending money in buying more and more items. Do you think it is a positive or negative development v.1

Over the years, people are spending profusely owing to higher incomes. However, as the salary hikes, people gradually become addicted to shopping and saves less. In my opinion, this can be detrimental to society as people will never be at peace and always be lured to earn more money. Firstly, as the monetary situation improves, the lifestyle of the people becomes expensive and they start investing in multifarious high-end products. To illustrate, many people buy new cars when their salary is increased, though the old car was functional and fulfilling all the requirements. Secondly, a vicious circle of never-ending wishes for materialistic things gets started, when a person is overindulged in shopping. Therefore, at the end of the month, they do not have funds in their banks, no matter how huge the salary is. For Instance, countless people use credit cards at month end as they are short of money. Finally, savings for the future is minimized because of the extravagant style of living. Moreover, incorporating the king-size lifestyle is easy, but compromising lavish lifestyle during monetary issues is extremely painful. For example, many businessmen commit suicide after a business failure, as they are not able to degrade their standard of living. However, the circulation of money increases in the market, as the number of customer increases, but this cannot suffice for the problems people go through by overspending. In Conclusion, people should not get trapped in the cycle of earning high and spending high. Attaining a balance between spending and saving money is the main key to lead a quality life.