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

Presently, a sizable group believes that credit has become more popular and a magnificent way to procure essential items for being
as cars or accommodations,
, others argue that it has more drawbacks. In
essay, I will discuss both sides of public opinion and give my own.
, I will consider how lent money opens more opportunities.
, I will explore ignorance and the risk of losing belongings
Remove the comma
show examples
and utilizing these funds incorrectly.
To begin
with, bank systems worldwide have been developed by people to improve the economic state of residents,
, plenty of individuals started to take money for their development.
money gives opportunities to examine new spheres and cognize knowledge, which will bring results in the future.
For example
, the bank provides special credits for setting up small businesses or educational leases, which leads to improving creditors' lifestyles and
they pay bank interest back,
, both receive benefits.
On the other hand
, credit is risky and it is the responsibility of the people who take them,
, they should be aware of how to use them properly to not lose all property.
, resources being leased by creditors must be active
that is
, should be contributed to the spheres where they bring capital.
For example
, if a person buys in credit a car to work as a cabbie, it will not have any risky or devastating consequences because they will pay the lease,
, if they procure expensive items
as phones, it will not bring funds to the person so it would be risky. In conclusion, it seems clear that people should be aware of how to use leased funds. In my opinion, they have to be utilized only for self-development or to set up their own company that will have economic benefits.
Submitted by maxbabeshko49 on

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task response
The essay adequately presents both sides of the argument and provides a clear opinion.
coherence cohesion
The logical structure should be improved by organizing ideas more coherently.
coherence cohesion
The introduction and conclusion are adequately presented, however, the essay lacks clear connections between ideas and within paragraphs.
coherence cohesion
The main points are supported with relevant examples, but the essay lacks clear connections between ideas.
Topic Vocabulary:
  • Financial stability
  • Debt management
  • Interest rates
  • Creditworthiness
  • Loan repayment
  • Economic impact
  • Fiscal responsibility
  • Consumer behavior
  • Asset acquisition
  • Credit cycle
  • Default risk
  • Liquidity
  • Financial planning
  • Credit limit
  • Down payment
  • Income-to-debt ratio
  • Repossession
  • Amortization
  • Secured/unsecured loan
  • Investment
  • Compulsive spending
  • Insolvency
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