Spendthriftiness
Spendthriftiness refers to the act of spending money in an extravagant, wasteful, or excessive manner. It is characterized by a lack of financial prudence and often involves a disregard for future consequences. An individual exhibiting spendthriftiness may struggle to save money, consistently overspend their income, and frequently accumulate debt. This behavior can stem from various factors, including impulsive shopping, a desire for immediate gratification, peer pressure, or an inability to differentiate between needs and wants.
While occasional splurges are normal, chronic spendthriftiness can lead to significant financial difficulties. These can include
Addressing spendthriftiness often involves developing a budget, tracking expenses, and setting financial goals. Seeking financial counseling