Some People Get Into Debt By Buying Things They Do Not Need And Cannot Afford | Band 8 IELTS Essay Sample
Some people get into debt by buying things they don’t need and can’t afford. What are the reasons for this behaviour? What actions can be taken to prevent people from having this problem?
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Band 8 IELTS essay sample
It is argued that a few people purchase unnecessary items even if they do not have sufficient funds to buy them. They do so by borrowing money from others or taking loans from banks. Peer pressure and easy availability of instalment options to buy are the main reasons for this kind of conduct but the government can discourage such behaviour among people by running awareness campaigns.
Peer pressure is the foremost reason for purchasing things which are not actually required and out of one’s budget. This is commonly seen among youngsters who buy things just because their friends have bought those things. Another reason is the easy access to credit cards and EMI options available in the market. These days luxurious items like microwave, music systems, cars and even foreign holiday packages are available on small instalments spreading the cost over a number of years.
In order to discourage people from adopting this behaviour, the government can take measures to raise awareness and make people clearly understand the ramifications this practice may have. Government authorities can educate people about how to keep / maintain a record of income and monthly expenses. For instance, at the beginning of every financial year, the Indian government sends a small animated video to every tax payer demonstrating how to spend wisely and choose the best options to invest those savings. This way, authorities can prevent individuals from being extravagant.
In conclusion, the tendency to buy unaffordable products that too when they are not required depends on the buying behaviour of friends and the easy accessibility to hire purchase. The most effective solution to control this problem is to create awareness among the people by running campaigns from time to time.