Many people are using credit cards or loans to run up huge personal debts that they may be unable to repay. It should be therefore be made more difficult for individuals to borrow large amounts of money. What are your opinions on this?

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.