▶ Your Answer :
It
is common to see that most people have at least one credit card. Many people
believe that individuals would have financial difficulties because they cannot
pay back with their financial debts. These debts could be used as daily
transactions for survival. This phenomenon would lead to economic difficulties
in the future such as mortgages, investment and student loans.
The
usage of credit cards be various. It can be used as for the daily transactions.
The groceries or foods could be seen as the examples. Also, the credit cards
could pay for any emergency and hazardous situations. In the case of accidents
individuals could pay for the costs relating to the accidents with their credit
cards.
Sometimes,
individuals' payments with debts becomes out of control. The reasons for these
phenomenons, could be people's spending habits and the high interest payments.
People might addict to the shopping and as a result, some people might be
listed as a bad creditor.
There
are different types of loans as an example - mortgages, entrepreneurship
investment and student loans. These types of loans could be used by limited
people who can be afforded.
In
conclusion, the huge dependency of the financial debts could lead to the
financial difficulties. As a result, some individuals could be listed as a bad
creditor. Therefore in order to prevent this, there are several steps to take
by individuals and governments. People could understand with their daily
spending patterns could be taken as one of the solution. Individuals could try
to use a budget to control their daily transactions. Lastly, the government
would put the financial limit on credit cards to control people's spending
habits. This could resolve the country's financial difficulties.
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