Advantage & Disadvantage of Black Money
Advantages and disadvantages of black money?
There are more disadvantage are there mainly poor peoples becomes very poor and rich peoples becomes very ricc we must have to stop this type of activities.
Disadvantages:Over Budget: Plastic money gives us an easy and extended purchasing capacity which results in an extra and unwanted buying. These cards give us discounts and bonus also on particular stores or items, which encourage us to get them and we use our hard earned money for a non-required thing, which affects our budget and we can’t handle our monthly budget system.Increased Debt and High Interest Rates: Credit Card provider financial institutions and companies charge high interest rates (may be 10% to 25%) on extra money if you fail to pay off up to the fix date of the month. This interest is their earning, for which they give you extra buying limits then your money. This is not a good idea that you owe loan on high interest rates and spend it in unnecessary things or purchasing. This is complete money wastages.Fraud: Credit cards can be stolen. A thief may be use them directly or to get their information (which is required in money exchange). In today’s technical intelligence it is also possible to get a clone of any credit card or debit card, which works like original and they can be give you a heavy financial loss. So be aware from credit cards fraud as they are like stolen your money from your pocket without your information.
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