What are borrower-spenders?

Borrower-spenders are individuals or entities that take on debt to finance their consumption or spending rather than saving or investing. They typically use loans, credit cards, or other forms of credit to purchase goods and services, often without a clear plan for repayment. This behavior can lead to financial instability if borrowers accumulate more debt than they can manage. Borrower-spenders are often characterized by a tendency to prioritize immediate gratification over long-term financial health.