In the following passage there are blanks, each of which has been numbered. These numbers are printed below the passage and against each, five options are given. Find out the appropriate word which fits the blank appropriately.
Plastic money has become the order of the day. Whether it’s a high-end store, a restaurant, a cafe outlet or even a grocery shop, people just buy what they like and not just what they want. One might claim that with plastic money around, they do not need to carry cash and there is no fear of being robbed. At the same time, it is easy to use.
Peter, a young MBA graduate joins a large software firm as a Business Development Executive. His job involves frequent travelling and meeting with leads and clients to develop business for the organization. This requires him to spend a lot on travel, food, stay, etcand keep track of his expenses. Since he may require a lot of cash for inter-city travel which can span a few days or weeks he preferred to use his debit card or credit cards.For instance he could use his card to pay for hotel stays where cards were commonly accepted. Similarly for travel he could book tickets online, while for food he had to rely on cash. However, with his debit card he could withdraw cash whenever required which made his life tough. Even if he forgets to carry cash he can use his debit card to withdraw funds whether required.
However, there are a large number ofdisadvantagesassociated with using plastic money. Credit cards encourage people to spend money they do not have.
Credits cards cost much more than other forms of credit, such as for personal loan. The transaction charges added to the amount are much more than one would have anticipated. Also, continuous late payments damage your credit rating and if one is unable to pay charges on time, then it is again a trouble. Debts can build up and leave people in real financial difficulties. When people cannot pay theirdebts, everyone __________, those in debt may lose their homes, the banks lose money and the whole economy suffers.Excess of anything proves bad in the end. So, its high time people should act wise and be known with the use of their hard-earned money.