People today are able to take out loans from the bank or get a credit card very easily. What are the advantages and disadvantages of this practice?

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There is an
increase
Replace the word
increased
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demand
of
Change preposition
for
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bank loans and
credit
Use synonyms
cards among people. It has many advantages and disadvantages of using
such
Linking Words
facilities depending on its
use
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. In
modern
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the modern
show examples
world, financial stability and
Use synonyms
use
Correct article usage
the use
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of luxury items have become a necessity. Banks have become
a
Correct article usage
apply
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financial aid to people who
wants
Correct subject-verb agreement
want
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to fulfil their needs. If someone wants to buy a house, they contact the bank for funds and they provide
loan
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loans
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ranging from 5 years to 50 years. Education loans are
also
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available for those students who
wants
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want
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to grow their career but monetary difficulties are
hurdle
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a hurdle
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for them.
Credit
Use synonyms
cards
also
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helps
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help
show examples
for
Change preposition
apply
show examples
those who want to
use
Use synonyms
an item
which
Correct word choice
that
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they can't afford so the
credit
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facility allows them to buy it which could be paid later either
by
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in
show examples
instalments or
full
Correct article usage
the full
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amount within
30
Correct article usage
a 30
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days timeline.
In addition
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to the advantages, there are
also
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several drawbacks to
build
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building
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liability using banks. It's
general
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a general
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perception that it is
harmless
Correct article usage
a harmless
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thing,
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this
Correct word choice
and this
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is dangerous for those who
shopaholic
Fix the agreement mistake
shopaholics
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. They can't resist a new product
and
Correct word choice
which
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might
result
Add the preposition
inresult
fromresult
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ending-up
Correct your spelling
ending up
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with huge
amount
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amounts
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of
debts
Fix the agreement mistake
debt
show examples
.
Furthermore
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, there is an annual fee for
credit
Use synonyms
cards as well which have to be paid regardless of whether you
use
Use synonyms
it or not. Loans are
also
Linking Words
beneficial but only for those who have the ability to pay it. There is
huge
Add an article
a huge
the huge
show examples
amount of interest on
loan
Fix the agreement mistake
loans
show examples
as well as
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tax imposed by the government. If there is not any stable income
then
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it will be a problem for those people. In conclusion, everything has its own pros and cons, resulting in the significance on either side depending upon the usage. Managing finance is a tricky thing to handle, if handled carefully
then
Linking Words
you can achieve much more than you expect.
Submitted by waqasali345 on

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    • Sentence 1 - Background statement
    • Sentence 2 - Detailed background statement
    • Sentence 3 - Thesis
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    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
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    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
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    • Sentence 4 - Conclusion
  • Paragraph 4 - Conclusion
    • Sentence 1 - Summary
    • Sentence 2 - Restatement of thesis
    • Sentence 3 - Prediction or recommendation

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