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Subhan Arif


My initial reaction was inclined towards Question 1 in the competition. I wanted to enhance my own knowledge on the current state of debt and the tools available for those wishing to save more or control their spending. The question also focuses on assisting the youth, whom are being targeted and placed in an consumerist culture. Therefore, I chose this topic to explore possible solutions to an imperative global problem. I began answering the question by analysing the source of debt creation, I immediately found the appeal to overspend was being caused by the environment that the youth are growing up in. Social media, fashion trends and other such factors are creating rapidly changing products to suit the short attention span of the younger generations. It would not be amiss to assume that one under such conditions would find it difficult not to acclimate with their peer groups.Thereafter, I outlined the major factors which have the most impact on the youth and their savings mentality. By doing this, I pinpointed the most effective channels of challenging this issue (Education, Social Media and Blockchain Technology).My thoughts throughout the process where intriguing, for example, the stats on debt and impulsive buying behavior, and the apps which are supposedly the contemporary solution to these problems. I believe that for change to occur, education from schools and parents must be corrected. If we are teaching our children the wrong information, we are setting them up for failure. The Internet has the potential to make this change, whether through social media or in other forms, mass scale communication is possible for everyone, therefore, there is no reason for lack of education, only, lack of creativity in capturing the attention of the youth.

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