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.

#people #credit #cards #loans #debts #individuals #amounts #money

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In the present day, many

people

Use synonyms

are tending to use various kinds of banking services

such

Linking Words

as credit cards, saving accounts and loans for different personal purposes. Some

people

Use synonyms

believe that government and banking authorities should make it harder for individuals to borrow a huge amount of

money

Use synonyms

, and I strongly agree with

this

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statement. There are a number of probable arguments in favour of

this

Linking Words

view.

Firstly

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many folks borrow a large amount of loan without having a

soild

Correct your spelling

solid

plan.

This

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massive personal debt results in increasing their burden.

For Instance

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, the statistics represent that 75% of the

people

Use synonyms

are unable to repay their debt and most of them lie in the age range of under 35.

Consequently

Linking Words

, these individuals, get depressed and choose to end their lives with suicidal attempts.

In addition

Linking Words

this

Linking Words

, these days individuals are more materialistic. They lend

money

Use synonyms

for useless things just to satisfy themselves.

For example

Linking Words

, a survey of renowned banks reveals that the majority of

people

Use synonyms

apply for

Add an article

the

show examples

loan

Fix the agreement mistake

loans

show examples

to spend

money

Use synonyms

on unnecessary items. They use the

money

Use synonyms

to show off their status.

Therefore

Linking Words

, it is the responsibility of the bank authorities that they should inspect the purpose of the loan. Certain rules and regulations must be imposed to meet the minimum criteria of the debt. In conclusion, various

people

Use synonyms

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

Use synonyms

from the bank, to cope with the situation effectively.

Submitted by niaakash on Fri Jul 01 2022

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8
Linking words
meeting the goal of 7 or more
2
Word repetition
meeting the goal of 3 or fewer
3
Grammar mistakes
detected issues

0123456789.0505

Overall Band Score

Coherence and Cohesion: 7.0

Logical structure

Introduction & conclusion present

Supported main points

Accurate linking words

Variety in linking words

Lexical resource: 6.0

Varied vocabulary

Accurate spelling & word formation

Grammatical Range: 6.0

Mix of complex & simple sentences

Clear and correct grammar

Task Achievement: 9.0

Complete response

Clear & comprehensive ideas

Relevant & specific examples

Appropriate word count

4 paragraphs

250 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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