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

prefer to pay approximately all their payments with the banking

instruments

like credit

cards

and

loans

. Because, there are numerous benefits

such

as the ability to long-term debt payments, diminished carrying of cash, easily affordable luxuries and usefulness for online shopping.

However

, overusing

cards

and

loans

have negative influences. I strongly believe that moderate use of these

instruments

is more precious. Modern financial equipment aims to reach every potential customer to maximise their gains. İn

this

context, they provide an easy connection to financial tools. Especially, individuals would prefer to use

loans

to buy needs like cars and houses. Nowadays,

people

prefer to use banking materials for their

payment

advantages.

To begin

with, there is no need for cash for expenses.

For example

, the

payment

instruments

like credit

cards

ensure

payment

without

money

. Specifically, the

cards

can be used on every corner of shopping.

Additionally

, modern shopping is done on the internet and

cards

are an inseparable part of shopping activities.

Moreover

, long-term credits are the best method for the banking sector, as they provide the division of the debt as a monthly

payment

.

For instance

, if a person desires to have a car and house and has no cash, banking

loans

make it easy to reach

this

goal. On the other hand,

payment

by card has disadvantages.

First

, society is not able to save income for future purposes. To illustrate, credits and

loans

have a negative influence on

people

's feelings, because extra

money

in pocket force

people

to spend

money

.

Second

, the stress of

payment

is very important for a person's psychology.

People

always consider on

payment

of liabilities and their health of them could be under the threat by overthinking. İn conclusion,

although

financial

instruments

may provide materials affordable, overusing them has disadvantages. I fiercely consider society should be careful about more spending

money

.