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 people from having this problem? v.7

Nowadays, demand of people is increasing significantly, which can be the essential goods or unnecessary for them. Thus, some people spend their money too much than they should be for consuming things which they favour. This essay discusses the causes and the possible solution to solve it. First of all, most people get into debt for buying the necessary things starting with the high based cost such as cars, houses, and condominiums. For example, some people get into a liability for buying land to do their business which can afford later with the benefit that they gain from the job. On the other hand, luxury goods, which are not imperative for most people, are bought by expensive tasted population with a high rate of cost, hence someone can have an indebtedness by spending cash with these kind of things such as decoration and jewels. On the contrary, some people can prevent this behaviour by fund management, which is the table presenting about their income which they spend. For example, my parents use this table to calculate amount of capital that they can use monthly. Moreover, thinking about the necessity before buying is very good idea to stop this behaviour. From my experience, I always think about the benefits that I can get from the goods before I buy it. In summary, people who spend too much to gain something that they cannot get at that time and get into debt.