In the last few years, banks have opened doors to public offering loans for business and consumer products which has resulted in people suffering from debts throughout their lifetimes. Had people preferred to lead a simple life, their financial problems too would not have gone worse. What is your opinion about this concern?
There is no denying the fact consumerism is a brainchild of the industrialists who vehemently coerced the public to purchase products even if they never wanted. Such a scenario had had led banks also to open their vaults to public to earn more interest on the deposits they had accumulated over the years. There is enough truth in the given statement.
Let me share a few reasons to substantiate the same. Earlier people showed contentment in whatever materials they had, thus saving money for the difficult times. People dressed in simple clothes, ate simple home-cooked food without gadgets, travelled only for pilgrimage or occasions, and never indulged in any neighborhood competition of vulgar display of wealth. Therefore, industry was growing a bare minimum rate. Banks by then had never thought of using their public money to offer to people as easy loans. Once industrialists lobbied with the political leaders, they prevailed upon the financial institutions to loosen their purses. Motorcycles, cars, showrooms, palatial houses, tractors, electronic gadgets and what not are within the reach of middle-class strata of the society to splurge in. This context subsequently has led to loans causing extreme stress in the families where income is instantly drained into monthly installments. The pleasure of goods gradually has faded while the expenses have mounted up. Consequently, the disparity between incomes and expenses has widened. The rush to psychiatrists, rising matrimonial discords, obesity, cancerous diseases, heart attacks early age diabetes are some of the highlights of undesirable living. The expression of anger on whimsical grounds is a symptom of stress, primarily due to financial burdens.
Interestingly, while corporate and industrialists have made huge money, people have lost their peace of mind for which money was invented. Leading simpler life with unwanted materials is the only way to reduce stress.
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