I think there are some reasons as follows:
1. Ignorance or immaturity
Some young people may lack financial knowledge and experience and don’t know how to make a budget. Savings and investments, and we don’t know the negative impact of overdraft consumption. In addition, some young people may be impetuous and impulsive, lack the awareness to think about the long-term impact, and are easily tempted by consumption.
2. Over-reliance on credit cards
The convenience and reward mechanism of credit cards in life are one of the main reasons why young people overuse credit cards. Many young people don't care much about their credit card bills and think that as long as they can repay the money on time, there will be no problem. However, if they cannot repay the money, the consequences of overdraft consumption will be serious.
3. High house prices and rents
Living in big cities, house prices and rents are very expensive, which makes many young people have to pay in installments or overdraft to pay rent or down payment. . In the short term, this method may bring some convenience, but in the long term, problems such as debt catch-up losses and high interest rates will need to be borne.
4. Employment Pressure
For young people, the first job usually has a lower salary, but the cost of living will not be lowered. If your income cannot support your living expenses, overdraft consumption may be a desirable solution. But young people may not anticipate the consequences of the burden, making overdraft consumption exacerbate their financial pressure.
5. Social pressure
In modern society, young people are subject to many pressures, such as economic pressure, academic pressure, family pressure and social pressure, etc. These pressures may lead them to seek Some instant enjoyment, and overdraft consumption is one of them. They may feel that they need to show their lifestyle on social media platforms, but due to financial conditions that cannot support it, they can only achieve so-called "social success" through overdraft consumption.