STEPS TO WRITE ESSAY 💡MAIN POINTS💡OVERVIEW

I. Introduction
A. Definition of borrowing
B. Importance of borrowing in households
C. Purpose of the essay

II. Lower interest rates
A. Explanation of interest rates
B. How lower interest rates reduce the cost of borrowing
C. Comparison of interest rates in different countries

III. Availability of funds
A. Role of financial institutions in lending
B. How availability of funds affects borrowing
C. Comparison of financial institutions in different countries

IV. Confidence in repayment
A. Factors that influence confidence in repayment
B. How employment and income affect confidence in repayment
C. Comparison of employment and income in different countries

V. Social acceptability
A. Cultural differences in attitudes towards debt
B. How social acceptability affects borrowing
C. Comparison of cultural attitudes towards debt in different countries

VI. Age differences
A. How age affects attitudes towards debt
B. Comparison of age demographics in different countries

VII. Economic hardships
A. How economic hardships lead to borrowing
B. Comparison of economic hardships in different countries

VIII. Inflation
A. Explanation of inflation
B. How inflation affects borrowing
C. Comparison of inflation rates in different countries

IX. Conclusion
A. Summary of key points
B. Implications for households in different countries
C. Future research directions.