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Band 7.5

It has become very common for people to borrow money . Most of people have a credit card a mortgage and often they will buy a car on credit as well . Is this goid idea or is it too risky? Discuss both views and give your opinion.

#people #money #credit #card #mortgage #car #goid #idea
It is common for
people
 to use
money
 in advance and buy some expensive items nowadays. There are arguments for and against borrowing
money
 from the bank, as we will discuss here. On one hand, it often needs a large volume of
money
 to buy a house, which may affect a person's economic mobility. It is less possible to collect a large amount of
money
 in a short period while securing a living place is quite necessary for city dwellers.
Thus
, lending a mortgage seems reasonable to avoid financial instability.
Furthermore
,
people
 who use a mortgage to buy a house may take it as a motivation. The more you borrow on the credit card, the more inspiration you may get on paying back the
money
.
However
, as the governments are building more council houses or implementing more tax incentives, house-buying is more affordable to youngsters. They could pay less or even no
money
 on credit.
On the other hand
,
people
 are more likely to be affected by economic instability.
For example
, most city dwellers are self-sufficient smallholders, safeguarding themselves from changes in the wider economy. Sometimes, owing debts increases the risk of living at the subsistence level. What's more, those who owe
money
 to banks may be involved in law issues and
thus
 gain a deterrent to crimes,
for instance
, including sentencing, imprisonment, fines and bad credit records.
Finally
, a negative consuming habit--the demands exceeding the real economic condition, easily comes into being, as the excessive use of
money
 encourages.
This
 may exacerbate
people
's financial security, even threaten their livelihood. To sum up,
although
 mortgages could reduce the economic instability in a short time, profound risks show on the bad habit, poor economic condition and potential crimes. Dangers can still be seen in mortgages, in my opinion.
Submitted by kev4313 on

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Examples make your writing easier to understand by illustrating points more effectively.

Examples, if used properly, not only help you get higher marks for ‘Task Response’ but also for ‘Coherence’.

When giving examples it is best to put them after your main idea or topic sentence. They can be used in the middle of supporting sentences or they can be used to start a new sentence. There is no rule for where exactly to give examples in essays, logically they would come after your main idea/topic sentence or just after a supporting sentence.

Linking words for giving examples:

  • for example
  • for instance
  • to illustrate this
  • to give a clear example
  • such as
  • namely
  • to illustrate
  • take, for example

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Topic Vocabulary:
  • Financial stability
  • Debt management
  • Interest rates
  • Creditworthiness
  • Loan repayment
  • Economic impact
  • Fiscal responsibility
  • Consumer behavior
  • Asset acquisition
  • Credit cycle
  • Default risk
  • Liquidity
  • Financial planning
  • Credit limit
  • Down payment
  • Income-to-debt ratio
  • Repossession
  • Amortization
  • Secured/unsecured loan
  • Investment
  • Compulsive spending
  • Insolvency
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