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

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prefer to pay approximately all their payments with the banking

instruments

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like credit

cards

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and

loans

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. Because, there are numerous benefits

such

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

However

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, overusing

cards

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and

loans

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

instruments

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

this

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

loans

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to buy needs like cars and houses. Nowadays,

people

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prefer to use banking materials for their

payment

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advantages.

To begin

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with, there is no need for cash for expenses.

For example

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, the

payment

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instruments

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like credit

cards

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ensure

payment

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without

money

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. Specifically, the

cards

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can be used on every corner of shopping.

Additionally

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, modern shopping is done on the internet and

cards

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are an inseparable part of shopping activities.

Moreover

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

payment

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.

For instance

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

loans

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make it easy to reach

this

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goal. On the other hand,

payment

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by card has disadvantages.

First

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

loans

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have a negative influence on

people

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's feelings, because extra

money

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in pocket force

people

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to spend

money

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.

Second

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, the stress of

payment

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is very important for a person's psychology.

People

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always consider on

payment

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

although

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financial

instruments

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

money

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.