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

#people #money #credit #card #mortgage #car #idea

Nowadays, the borrowing of funds has become easier than past. Now,

people

have

credit

cards

and they can take

loans

from banks to buy property or cars. Some

people

think that it is too risky to take

loans

and some are in favour.

This

essay will discuss both views in the forthcoming paragraphs.

To begin

with, many

people

believe that

loans

take an individual into debt and they are not in the favour of

credit

cards

For instance

, one of my friends takes a

loan

to purchase a car from a bank. His monthly salary was 70,000 and the instalment of the

loan

was 35000. In the beginning, it was a smooth process of instalments later during COVID, he suffered a lot. He lost his job and

then

the bank manager took his car and said within the given period of time settle down your mortgage

otherwise

they will sell their car. It was really a harsh situation for him. From

this

view,

people

are afraid to take

loans

On the other hand

, some

people

and I believe that

loans

credit

cards

are beneficial to purchasing a home or installing a new company. I think proper planning proves beneficial for us.

For instance

, In 2012, I took a

loan

to establish my own factory. I made planning on how I will return

this

loan

. Everything was going in planning and in 2020 I paid all amount in instalments now I have my own factory worth rupees two crores and I am

also

debt-free. To conclude, In my opinion, I think that

credit

cards

are not bad if one uses them wisely. It gives us advantages to make our own home or property. With proper planning, it can be paid.

Submitted by Rajwinder Kaur on Thu Jul 07 2022

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7Linking words
meeting the goal of 7 or more
5Word repetition
meeting the goal of 3 or fewer
0Grammar mistakes
 

4 paragraphs

290 words

7.50

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: 9.0

Mix of complex & simple sentences

Clear and correct grammar

Task Achievement: 7.0

Complete response

Clear & comprehensive ideas

Relevant & specific examples

Appropriate word count

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Topic Vocabulary:

compelled
strategic financial decision
investing
property
cash flow
rewards programs
debt trap
servicing debt
exacerbate
financial strain
cycle of debt
personal responsibility
financial literacy
informed decisions
excessive borrowing
ill-informed borrowing
financial planning

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

Your opinion

Many schools these days have problems with poor student behaviour. Why do you think these problems occur? What could be done to tackle these problems?

Some people think the manufacturers and shopping malls should sell fewer packaged products while others argue that people have the responsibility to buy products with less packaging. Discuss both views and give your own opinion

People cart eat a wide variety of food that can be grown in other areas. As a result, people eat more food produced in other regions than local food. Do you think the advantages of this trend outweigh the disadvantages?

Most people have forgotten the meaning behind traditional or religious festivals; during festival periods, people nowadays only want to enjoy themselves. To what extent do you agree or disagree with this opinion?

One of the consequences of improved medical care is that people are living longer and life expectancy is increasing. Do you think the advantages of this development outweigh the disadvantages?