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?

It is argued that, people tend to be more luxuries as they do not think about there economical status and spend more than there capabilities and fell into debts. To encounter, the issues which they face further should be taken care. This essay will discuss about problems we face, in case of buying unnecessary essentials which a person cannot afford. The first and foremost reasons to have financial crisis is all because of Fantancy Over Life. Younger Generations are fascinated to have Sports Bikes, Gadgets, Cars etc. For Instance, If his or her family is not in the position to afford that, but youth makes pressure to get it. As there is no way to fulfill there desire, then families take loans and can't pay them so it goes on increasing with interest rates and suffer a lot with increase in debts. However, it should be taken care by parents, by making a strict gaze on them. They are supposed to tell their children about their financial status and also pros and cons about the effects they suffer in future because of debts. For example, person who is having such pleasures should make him think of his own life and destructions that causes to him because of his thought process. One should think about his source of income before enjoying or buying things which are unworthy for them. And, they should stop comparing with others. These will help people to solve the problem and get out of crisis. In conclusion, I believe that, In order to get rid of obligations one should move or make things which are required for them and avoid buying essentials which are not needed.