Why Chasing Expensive Lifestyle can be Dangerous for Youngsters 

The flashy content on social media has got youngsters chasing expensive lifestyle for self-gratification, but many of them overlook the fact that all actions have certain consequences. While aspiring youth should be motivated to work hard to attain the lifestyle of their dreams, many of them look at the social media trends and pursue this lifestyle by hook or by crook instead of putting in the hard work. However, this is leading them to dangerous consequences as debt rates among the youth are rapidly rising today.

FREED CEO Ritesh Srivastava has written in Money Control that people are generally purchasing on borrowed money thanks to credit cards or loans, which can temporarily support their lavish purchases today. But this habit of chasing expensive lifestyle will likely come back as a tremendous debt if your finances are not properly managed. For example, the prospect of taking a heavy car loan to buy a costly car just to show off can look like the easy way out, but it will likely crush your long-term goals. It is thus necessary to educate youngsters on the right ways to manage their money so that they do not get pulled into debt problems in the early, formative years of their lives.