Consumerism and the culture of debt

Success nowadays is not based on income but more on our material belongings. As status symbols, social media and advertising force us to buy expensive phones, branded clothes, and lavish vacations. However, behind this flashy appearance, materialism is slowly turning us into a debt culture.

The "buy now, pay later" option, credit card convenience, and simple payment plans all encourage impulsive spending. Beyond individual actions, marketing strategies are progressively causing this organisational and social problem.

Financial anxiety, long-term debt, and a lack of savings are the horrible impacts that are undermining not only individuals but the economy as a whole. The question is now: Why are we taught that purchasing is the key to happiness? Why do we believe that success is correlated with purchasing more?

In order to believe in "living smart," rather than "consuming more," we require ethical advertising, efficient economic education, and a change in priorities.

Arobi Maria Rozario

Dhaka

arobi.rozario@northsouth.edu