Some people get into debt by buying things they don’t need


You should spend about 40 minutes on this task.

Present a written argument or case to an educated reader with no specialist knowledge.

Write about the following topic:

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?

Give reasons for your answer and include any relevant examples from your own knowledge or experience.

Write at least 250 words.

Sample Answer:

In today’s consumer-driven society, it is not uncommon for people to accumulate debt by purchasing items that are beyond their means. There are several reasons why individuals may engage in this behavior, and various measures can be taken to prevent such financial difficulties.

One of the primary reasons for this behavior is the pressure to keep up with societal trends and expectations. With the rise of social media and the constant bombardment of advertisements, individuals often feel the need to have the latest gadgets, fashion items, and luxury goods in order to feel accepted and validated. This leads to impulsive and unnecessary spending, resulting in mounting debt.

Furthermore, the lack of financial literacy and budgeting skills also contributes to this problem. Many people are not educated on the importance of living within their means, and the long-term consequences of excessive borrowing. This lack of understanding can lead to poor financial decision-making and an inability to manage debt effectively.

To address this issue, it is crucial to promote financial education and awareness from an early age. Schools and educational institutions should incorporate personal finance courses into their curriculum, teaching students about budgeting, saving, and the dangers of excessive debt. Additionally, government initiatives and community programs can provide workshops and resources to help individuals develop sound financial habits.

Another effective measure is to encourage responsible spending through advertising and marketing regulations. Companies should be held accountable for promoting excessive consumerism and unrealistic standards of living. By implementing stricter guidelines on advertising, individuals may be less inclined to make unnecessary purchases.

Furthermore, financial institutions can play a role in preventing excessive debt by providing resources for responsible borrowing and lending. This includes offering financial counseling services, promoting transparent lending practices, and encouraging individuals to seek advice before taking on debt.

In conclusion, the reasons for individuals accumulating debt by purchasing unnecessary items are multifaceted, ranging from societal pressures to a lack of financial literacy. To prevent this problem, a comprehensive approach involving education, regulation, and support services is necessary to promote responsible spending and financial well-being. By addressing these issues, individuals can make informed decisions and avoid the pitfalls of excessive debt.

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