Nowadays plastic money replacements such as credit and debit cards are extremely popular, even more than banknotes and coins. Discuss the advantages and disadvantages of this. Give reasons for your answer and include any relevant examples from your own knowledge or experience.

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Nowadays, almost everyone uses credit and debit
cards
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instead
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of the more traditional forms of
money
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such
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as banknotes and coins.
This
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shift in behaviour has resulted in some positive- and negative developments in comparison with the old situation. Hereafter will I come up with some advantages and disadvantages
as a result
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of
this
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change.
Firstly
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, it has become easier to bring your capital with you. In the past people needed to bring their wallets filled with a lot of physical
money
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.
This
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was because they had to pay, for ,instance their groceries, with
this
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'physical
money
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'. The new way of doing transactions by
card
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has resulted in the need for less cash because it is now enough to bring a small
card
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with you.
This
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card
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fits
for example
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between your phone and phone case, so it will not take a lot of space.
Furthermore
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, the shift in the payment method had
also
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ensured a decrease in criminality on the streets. In the past, there was always a chance that you could be robbed on the street and directly lost all the cash you had taken with you.
This
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is not the case with credit- and debit
cards
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. Take as
a template credit
Correct the article-noun agreement
template credit cards
a template credit card
show examples
cards
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, If these
cards
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get stolen the robbers can only take a certain amount of
money
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from the
card
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.
Next
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to that, at the moment you know that you lost your
card
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, you can directly make a call to your bank to block your bank account.
On the contrary
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, there is
also
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a disadvantage to
this
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transformation. People will spend
money
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because they do not have the feeling that they are actually spending
money
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.
Consequently
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, they will spend more than possible.
For instance
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, a lot of poor people usually pay with cash. By doing
this
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, they have better control over their financial position. In conclusion, the change from physical to digital
money
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has led to more user-friendly applications and had reduced the rate of criminality,
Nevertheless
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can it
also
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lead to financial problems for some households.
Submitted by larsvdknaap on

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