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Media and Technology Contribute to People Overspending Essay

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Updated: Sep 7th, 2021

Introduction

People have been very much influenced by the use of money whereby they have many things to do so that they can earn a living. One needs to have an activity to do this is because in everyday lives our living requires money and thus it is not possible to live without money. It has been hard for people to have a budget for their spending and this has a high impact on them because they end up spending money on things that are not important.

For example, one can overspend on leisure and forget that he or she requires basic things like clothing, food, and shelter whereby one can not live without. People seem to have less concern on the basic needs but have high concern on the minor needs and this leads to a conflict of such a person because he or she will find that much of the income has gone to things that are not important and end up limiting income for the basic needs. Due to changes in technology then people have been involved in these changes like the use of machines whereby one will have to spend a lot in the installation of that machine although there is the advantage of getting more productive. Such people find it hard to save money for their needs. (Robert, 1990)

Discussion

The use of internet window shopping which is a new technology has an impact on people because as one goes out to buy then he or she finds that the purchase is of things that are not important and were not even in the budget. Media has also affected people spending because depending on the certain media that one uses then there is an impact on what one will buy. The means of advertisement that are used by the seller will affect the buyers on what is to be purchased and also the seller will be affected as the advertisement might be very expensive to them so they will have to, spend much on making the product known to the people.

Internet is a new technology and also a medium for the advertisement of the product is very helpful. This is because it makes people know about the changes that take place in the world on daily basis and still been that people are becoming more civilized then they are interested in using the current technology that is faster rather than using the old technology that requires much manual work. Due to these changes in the world people are spending more because they have to make the installation of this new technology which are very expensive and thus one is forced to have assistance. Also, people have no budget on the important things that one can not live without but they end up overspending on things that one can live without.

The changes that are taking place in the world in technology and media have affected people as they want to fit in this changing world and thus they have to change according to the changes but they find that they spend more than their income as these changes require much income and one may not have enough amounts to spend. (Michael, 1998)

Many people use the internet to purchase their products this method is very expensive in installation and also it leads to one buying things that are not budgeted. This is because people see it as a means that does not involve someone to spend a lot of time and thus one ends up buying items that were out of plan due to the appearance of that product and the attractiveness may lead one to buy such a product and thus in use of credit cards than one is easily mislead and buys things that are not important.

People see the use of the internet for making their purchase as a faster means compared to others like going to the market to buy the things one requires and thus people have been confused due to the changes that are taking place in the world that affects the people ways of getting items. In purchasing items like radios one may end up purchasing it through credit cards because they feel that it is of great value and thus they pay for it expensively when they could have bought it at a cheaper cost and thus such a person will pay that amount regardless of his or her cash as they do not care the amount that they have to spend.

People end up spending more than their income because through buying a product on the internet one may not be sure of the cost of it in the market. People pay for things like if there are sports competitions then one feels that he or she should watch it and they do this through paying in the online where one spends a lot of money in booking to be involved and be kept up date about what is taking place. People find that they spend much when using the new technologies and the media that are used this is because they want to be sure of what is taking place in the world. (Kathleen, 1996)

Technology and media help the seller market the products and make more sales but the negative part of these new technologies is that they are very expensive to install and also in usage and thus the buyer has to purchase a product expensive when such a product could be provided at a cheaper cost. People want to go with the changes that take place without minding their state in terms of the income that is received and therefore it is easier for one to spend more on things that are cheap using the basic means.

Such people have effects on the economy of their country because they buy things from the developed countries meaning that the money is taken to that country and thus the country will lose and they are forced to install these new techniques so that people do not switch to other countries and due to the amount that is required then it is not easy. The country has to seek assistance from these developed countries and they have to spend a lot on these techniques. People feel that they have to be civilized without thinking about the state of the country as they are the ones to suffer if something expensive has to be done.

Conclusion

People spend more than their means because of the changes in media and technology this is because people want to be modernized and this can be achieved through the use of the new technology and media thus one spends more to get an item that can be received at a lower cost. It is advisable to compare the means with the products that are to be purchased.

Reference

Kathleen, F (1996). Living in a digital age, family foundation.

Michael, M (1998). Impact of change in technology. Publishing corporation, pp. 78.

Robert, D (1990). Media and technology. Readers’ publishers, pp. 34.

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IvyPanda. (2021, September 7). Media and Technology Contribute to People Overspending. Retrieved from https://ivypanda.com/essays/media-and-technology-contribute-to-people-overspending/

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"Media and Technology Contribute to People Overspending." IvyPanda, 7 Sept. 2021, ivypanda.com/essays/media-and-technology-contribute-to-people-overspending/.

1. IvyPanda. "Media and Technology Contribute to People Overspending." September 7, 2021. https://ivypanda.com/essays/media-and-technology-contribute-to-people-overspending/.


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IvyPanda. "Media and Technology Contribute to People Overspending." September 7, 2021. https://ivypanda.com/essays/media-and-technology-contribute-to-people-overspending/.

References

IvyPanda. 2021. "Media and Technology Contribute to People Overspending." September 7, 2021. https://ivypanda.com/essays/media-and-technology-contribute-to-people-overspending/.

References

IvyPanda. (2021) 'Media and Technology Contribute to People Overspending'. 7 September.

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