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.
In the modern era , Getting
credit
from financial
and Add an article
the financial
non financial
Add a hyphen
non-financial
institute
has become easy and within the reach of Fix the agreement mistake
institutes
layman
.Add an article
the layman
This
easy supply of money ensures that economy
functions well .Correct article usage
the economy
However
Add a comma
,However
this
trend has also
ignited a contentious debate on issue
that whether availing Add an article
an issue
the issue
credit
is good
idea or is it risky . In the following Change the article
a good
paragraphs
we will discuss both views and Add a comma
,paragraphs
it
will be followed by my personal opinion
Over generations the way we lead our life has changed . Luxuries for which our ancestors had to work hard all their life , can now be Correct pronoun usage
apply
availaed
by Correct your spelling
availed
Correct your spelling
younger
Correct article usage
the youger
youger
generation Correct your spelling
younger
by
Change preposition
with
easy
availability of Add an article
the easy
credit
.This
has certainly improved standard
of living of Correct article usage
the standard
the
society as a whole .Correct article usage
apply
Furthermore
Add a comma
,Furthermore
this
has also
given boost
to Add an article
a boost
economy
as Add an article
the economy
purchasing
power of the youth has increased incredibly . Add an article
the purchasing
Also
one can better plan the salary in hand to manage one's expenses.
Although
the trend has many positives, the negatives of the same cannot be overlooked . To start with having easy availability of money makes youth reckless and they end up Correct your spelling
overspending
over spending
. Correct your spelling
overspending
This
leads to disturbance of financial discipline and lands them into an eventual dept
trap .They sometimes splurge into shopping Correct your spelling
debt
unnecessary
stuff and end up paying Change preposition
for unnecessary
very
Add an article
a very
high interest
Add a hyphen
high-interest
rate
on borrowed money .Fix the agreement mistake
rates
This
creates a bad situation for Add an article
a family
the family
family
who Fix the agreement mistake
families
dont
Correct your spelling
don't
havde
enough to cover their dept . The economic depression of 2008 is an example of the way misuse of Correct your spelling
have
credit
had created mess
Add an article
a mess
of
the Change preposition
in
economy
across the globe and issues for the debt ridden
families
To hammer the Add a hyphen
debt-ridden
last
nail, I would like to conclude that easy credit
is a double ended
sword and a person has to be very judicious to judge when and how much Add a hyphen
double-ended
credit
he or she must avail .Therefore
risk taken after proper calculation of risk can help individual
and Fix the agreement mistake
individuals
economy
at a largeCorrect article usage
the economy
Submitted by kartikmalik01 on
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