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

Taking Credits and bank loans are becoming a trend nowadays. Today's population are fulfilling their need with the aid they get from the nation, family, or friends.

For instance

, if we talk about taking a brand-new car. It is hard for a common man to afford the total price of the car and

due to

this

, he will search for the options of EMI. They knock on the door of banks and or any other private money lenders.

This

is the feasible option for the middle-class population to meet their requirements as they can repay the huge sum of amount into small distributed amounts.

Secondly

, we come across a community who are against taking credit. Taking money from the government or private sector on the interest rate is not a good decision in their opinion. In their thought, one should not spend beyond the earnings. Needs must be kept inside the circumference of the income. Going on interest is risky and can damage financial stability. Sometimes when people cannot pay back the monthly amount, the interest rate will

get

Verb problem

apply

show examples

increase

subsequently

which is very harmful. It will destroy mental peace and

affects

Correct subject-verb agreement

affect

show examples

the health of human beings. Despite the fashion, that utilizing credit cards and mortgages is significantly increasing, we

also

find societies that contradict

this

statement. In my vision, spending must be limited

according to

income. The equilibrium of expenses vs income must be maintained.

This

will result in

peaceful

Correct article usage

a peaceful

show examples

and happy sweet life. If you go for the various options which are available in the current era for lending money, you cannot carry

balanced

Correct article usage

a balanced

show examples

financial status.