Many people are using credit cards or loans to run up huge personal debts that they may be unable to repay. It should, therefore, be made more difficult for individuals to borrow large amounts of money. What are your opinions on this? Give reasons for your answer and include any relevant example from your knowledge or experience.

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In today’s modern world, a lot of individuals are tending to use various kinds of banking services like credit cards, saving accounts and loans for different personal purposes. Some people are of the opinion that government and banking authority should make it harder for individuals to borrow a large amount of
money
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and I strongly agree with it. There are a number of plausible arguments in favour of
this
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view.
Firstly
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, many people borrow a large amount of loan without having a solid plan.
This
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huge personal debt r
esults
Suggestion
result
in increasing their burden.
For example
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, the statistics represent that 65% of the people are unable to repay their debt and most of them lies in the age range of under 30.
Consequently
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, these individuals, depressed out and choose ending their lives by suicidal attempts.
In addition
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to
this
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, these days individuals are more materialistic. They lend
money
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for useless things just to satisfy themselves.
For instance
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, a survey of a renowned bank reveals that the majority of the people apply for the loan to spend
money
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on unnecessary items. They use
money
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to show off and brag about their status.
Therefore
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, it is the responsibility of the authorities that they should inspect the purpose of the loan. Certain rules and regulations should be imposed to meet the minimum criteria of the debt. In conclusion, various people get into larger debts by taking extra debts.
Therefore
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, banking authorities should tighten the rules in the procedure to avail
money
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from the bank, to cope with the situation effectively.
Submitted by yasmeenakhter03 on

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Fully explain your ideas

To get an excellent score in the IELTS Task 2 writing section, one of the easiest and most effective tips is structuring your writing in the most solid format. A great argument essay structure may be divided to four paragraphs, in which comprises of four sentences (excluding the conclusion paragraph, which comprises of three sentences).

For we to consider an essay structure a great one, it should be looking like this:

  • Paragraph 1 - Introduction
    • Sentence 1 - Background statement
    • Sentence 2 - Detailed background statement
    • Sentence 3 - Thesis
    • Sentence 4 - Outline sentence
  • Paragraph 2 - First supporting paragraph
    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
    • Sentence 4 - Conclusion
  • Paragraph 3 - Second supporting paragraph
    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
    • Sentence 4 - Conclusion
  • Paragraph 4 - Conclusion
    • Sentence 1 - Summary
    • Sentence 2 - Restatement of thesis
    • Sentence 3 - Prediction or recommendation

Our recommended essay structure above comprises of fifteen (15) sentences, which will make your essay approximately 250 to 275 words.

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Topic Vocabulary:
  • financial literacy
  • credit cards
  • loans
  • debts
  • mental health
  • well-being
  • stringent checks
  • balances
  • repaying
  • reckless spending
  • living beyond one's means
  • financial destabilization
  • regulations
  • cap (verb)
  • income
  • financial commitments
  • mandatory financial education
  • financial decisions
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