It has become increasingly common for some people to accumulated debt by making unneeded and unaffordable purchase. The problem associated with encouraged to use credit card and spend indiscriminately. It can be tackled by issuing loans and problems incurred by debt
The primary problem of between personal debt that people are being encouraged to use credit cards because credit cards have become an important part of the modern financial system. They help people to buy without needing cash pay for service and even loan if necessary. The convenience of credit cards is that they allow users to pay quickly at any time and place. An additional problem advertising entice people to spend indiscriminately because the main purpose of the advertise is to encourage people to buy people they make the product so attractive that people are accustomed to spending without thinking money . This can lead to financial problem exceeds expenditures and sometimes indebtedness.
Turing to possible solutions one effective way to deal with bank shoybe stricter about issuing loans because alway the credit recipient can not repeat on time some do so much loan without judging the financial situation properly both for banks and customers. Another possible solution school should teach children about the problems incurred by debt because it is very useful to reach children about the negative consequences of debt in school. Many people find it very easy to get borrowing but not to pay on time the percentage will increase the credit pressure increase and the credit rate decrease and life quality declines if children understand these things from age , they take the debt carefully when it is view.
In conclusion in may view individual accumulate debt. It can be caused by encourage to use credit cards and spend indiscriminately. It can be solved by issuing loans and problems in current by debt.