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Band 6.5

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?

#people #loans #bank #credit #card #practice
There is an increased demand for bank
loans
 and
credit
 cards among people. It has many advantages and disadvantages of using
such
 facilities depending on its
use
. In the modern world, financial stability and the
use
 of luxury items have become a necessity. Banks have become financial aid to people who want to fulfil their needs. If someone wants to buy a house, they contact the bank for funds and they provide
loans
 ranging from 5 years to 50 years. Education
loans
 are
also
 available for those students who want to grow their careers but monetary difficulties are a hurdle for them.
Credit
 cards
also
 help those who want to
use
 an item that they can't afford so the
credit
 facility allows them to buy it which could be paid later either in instalments or the full amount within a 30-day timeline.
In addition
 to the advantages, there are
also
 several drawbacks to building liability using banks. It's a general perception that it is a harmless thing, and
this
 is dangerous for those who are shopaholics. They can't resist a new product which might result in ending up with huge amounts of debt.
Furthermore
, there is an annual fee for
credit
 cards as well which have to be paid regardless of whether you
use
 it or not.
Loans
 are
also
 beneficial but only for those who have the ability to pay it. There is a huge amount of interest on
loans
as well as
 tax imposed by the government. If there is not any stable income
then
 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
 you can achieve much more than you expect.
Submitted by waqasali345 on

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For we to consider an essay structure a great one, it should be looking like this:

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

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