A lot of people nowadays are spending too much money and they don_t save anything for future use. Is this a positive or a negative development?

In today_s world opting for luxury lifestyle is the fundamental right of everyone and

they are availing it in the form of buy luxury items. A myriad of society has the perception that luxurious life patterns can be achieved through massive spending. My standpoint and observation hereby affirm that

trend

multiple negative implications rather than positive ones.

essay will elaborate on

to a personal budget and a vicious circle of debt.

The fundamental despondency associated with

spending is the

of personal budget which in turn will force towards compromise social life to balance out the budgetary

caused by overspending.

, my work-life colleague lenient towards sports brands,

by fulfilling his thirst for iconic sports material force him toward compromise life standards because of budgetary

.

Another deleterious effect of spending a significant amount of cash is none other than a vicious circle of debt.

put it in another way, too much of misspending will lead to

and

will find themselves in tremendous financial debts, As

the spender will not be in the position to pay off the amount of liability standing at his account.

, the majority of the credit card holder is not able to pay back the debt they create because of their spendthrift

, generally, to pay back the financial obligation require a significant amount of time.

On the whole, relating any constructive mechanism to the overspending seems not only difficult rather entirely impossible.

trend is pushing many people towards budgetary

and the vicious circle of debts.