Over thousands of years, money has evolved from bartering, to gold coins and to minted coins and paper money. In the near future, people believe that online banking and credit cards will completely replace the physical form of money. After careful considerations about this new trend, the conclusion is that there are more positives in using credit cards due to reasons of convenience, transparency and security.
Although carrying coins and notes limits your impetuous spending, it can be quite cumbersome to bring it with you. Carrying a single credit card for all your purchases offers incredible convenience. The shopping experience is expedited and there is also no need to wait for any change. If you run a business, paying and accepting payment by credit card also increases your business profits because your customers or partners prefer the ease of credit card payments. The processing of online monetary transactions is either instantaneous or takes a couple of days. On the other hand, paying by cash is slows down your cash flow efficiency. Using online banking and debit or credit cards also improves transparency and accountability. Government can easily keep track of electronic money and as a result, reduces corruption rates, which is not the case for cash because of its anonymous nature. Accountability in citizens’ tax is also increased as individuals cannot report below what they earn, for tax calculations. Furthermore, credit cards offer added layers of security from theft that cash does not have. When your cash is stolen, you cannot get it back unless the thief leaves evidence behind. If your credit card gets stolen, the issuing bank will cancel the stolen card and issue a new one. On top of that, online banking services also offer two factor verification process to authenticate the user. These safeguard measures protect the account holder from larceny. With these significant explanations, there is no doubt about the benefits of moving closer towards a world where only electronic currency and credit cards are utilized.
Despite the advantages mentioned above, credit card users have historically shown how easy it is to overspend and accumulating mountains of debt. One advantage of cash is that it is harder to buy impulsively because you can only buy with whatever cash you have, at that moment. In order for credit card users to have good credit, they need to learn to exercise financial prudence. Nonetheless, the advantages of credit cards and electronic banking far outweigh the pros of physical money.
To summarize, the growth of credit card and online banking usage are beneficial to society in terms of better convenience, transparency and security. For impulsive shoppers, it would be better for them to pay with cash to avoid credit card debts. However, the long term solution would be for them to self-educate in controlling their buying urges for instant gratifications. It is highly probable that money will make its complete transmutation from cash to online transactions in the next few decades, transforming into a cashless society.
Grammar and spelling errors:
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Over thousands of years, money has evolv...
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...onvenience, transparency and security. Although carrying coins and note...
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...urrency and credit cards are utilized. Despite the advantages mentioned...
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...r outweigh the pros of physical money. To summarize, the growth of cred...
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Transition Words or Phrases used:
also, furthermore, however, if, nonetheless, so, then, no doubt, as a result, on the other hand, on top of that
Attributes: Values AverageValues Percentages(Values/AverageValues)% => Comments
Performance on Part of Speech:
To be verbs : 19.0 13.1623246493 144% => OK
Auxiliary verbs: 12.0 7.85571142285 153% => OK
Conjunction : 19.0 10.4138276553 182% => OK
Relative clauses : 10.0 7.30460921844 137% => OK
Pronoun: 36.0 24.0651302605 150% => Less pronouns wanted
Preposition: 64.0 41.998997996 152% => OK
Nominalization: 12.0 8.3376753507 144% => OK
Performance on vocabulary words:
No of characters: 2609.0 1615.20841683 162% => OK
No of words: 498.0 315.596192385 158% => Less content wanted.
Chars per words: 5.23895582329 5.12529762239 102% => OK
Fourth root words length: 4.72397222731 4.20363070211 112% => OK
Word Length SD: 2.86409304727 2.80592935109 102% => OK
Unique words: 272.0 176.041082164 155% => OK
Unique words percentage: 0.546184738956 0.561755894193 97% => OK
syllable_count: 812.7 506.74238477 160% => OK
avg_syllables_per_word: 1.6 1.60771543086 100% => OK
A sentence (or a clause, phrase) starts by:
Pronoun: 6.0 5.43587174349 110% => OK
Article: 7.0 2.52805611222 277% => Less articles wanted as sentence beginning.
Subordination: 5.0 2.10420841683 238% => Less adverbial clause wanted.
Conjunction: 0.0 0.809619238477 0% => OK
Preposition: 11.0 4.76152304609 231% => Less preposition wanted as sentence beginnings.
Performance on sentences:
How many sentences: 26.0 16.0721442886 162% => OK
Sentence length: 19.0 20.2975951904 94% => OK
Sentence length SD: 32.1004341064 49.4020404114 65% => OK
Chars per sentence: 100.346153846 106.682146367 94% => OK
Words per sentence: 19.1538461538 20.7667163134 92% => OK
Discourse Markers: 4.26923076923 7.06120827912 60% => OK
Paragraphs: 4.0 4.38176352705 91% => OK
Language errors: 4.0 5.01903807615 80% => OK
Sentences with positive sentiment : 19.0 8.67935871743 219% => Less positive sentences wanted.
Sentences with negative sentiment : 3.0 3.9879759519 75% => OK
Sentences with neutral sentiment: 4.0 3.4128256513 117% => OK
What are sentences with positive/Negative/neutral sentiment?
Coherence and Cohesion:
Essay topic to essay body coherence: 0.151119625398 0.244688304435 62% => OK
Sentence topic coherence: 0.0449556357614 0.084324248473 53% => OK
Sentence topic coherence SD: 0.0487635273444 0.0667982634062 73% => OK
Paragraph topic coherence: 0.117151747786 0.151304729494 77% => OK
Paragraph topic coherence SD: 0.081888515485 0.056905535591 144% => OK
Essay readability:
automated_readability_index: 12.8 13.0946893788 98% => OK
flesch_reading_ease: 52.19 50.2224549098 104% => OK
smog_index: 8.8 7.44779559118 118% => OK
flesch_kincaid_grade: 10.7 11.3001002004 95% => OK
coleman_liau_index: 13.11 12.4159519038 106% => OK
dale_chall_readability_score: 8.86 8.58950901804 103% => OK
difficult_words: 135.0 78.4519038076 172% => OK
linsear_write_formula: 8.5 9.78957915832 87% => OK
gunning_fog: 9.6 10.1190380762 95% => OK
text_standard: 9.0 10.7795591182 83% => OK
What are above readability scores?
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Rates: 73.0337078652 out of 100
Scores by essay e-grader: 6.5 Out of 9
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Note: the e-grader does NOT examine the meaning of words and ideas. VIP users will receive further evaluations by advanced module of e-grader and human graders.