In our fast-pacing world, countless amount of individuals are getting tempted to buy some trendy stuff and as a consequence they accumulate enormous debts. This can be contributed to the influence of advertising and financial illetracy. However viable solutions would be improving people’s budget allocation skills and promoting sustainable lifestyle.
One of the main causes of this issue is rising impact of marketing, especially among young generation. Nowadays competitive business world requires companies to advertise their product in aggressive way to sell and naturally to have more profit. For instance, all of those irritating pop-up advertisements that nearly everyone face while using their phone actually make them to pay extra money on buying redundant stuff. Furthermore, another important fact to consider is lack of financial education, especially among young generation. As a result of strict resticts on budget that certain young people might had during their childhood, they are tend to get whatever they want even though it is not affordable for them. For example, if child was not allowed to get fancy toys, this individual would had grown as a vulnerable victim of marketing.
However to overcome this we could enhance awareness about the negative impact of overconsumption. Encouraging people to value not quantity but quality can also reduce amount of waste . For instance, schools and social media influencers can start with highlighting what harmful consequences wasteful shopping has on environment. Additionaly, implementing right budgeting habits might be the major solution. For example, through financial literacy programms we can make people think twice before buying something unnecessary.
In conclusion, main triggers of overconsumption are aggressively advertised products or services and deficit of balanced spending habits. This could be addressed by educating users and introducing lifestyle changes.