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State one advantage and one disadvantage of using credit to pay household utility bills - Leaving Cert Home Economics - Question 10 - 2015

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State one advantage and one disadvantage of using credit to pay household utility bills. Advantage ________________________________________________ _______________... show full transcript

Worked Solution & Example Answer:State one advantage and one disadvantage of using credit to pay household utility bills - Leaving Cert Home Economics - Question 10 - 2015

Step 1

Advantage

96%

114 rated

Answer

Using credit to pay household utility bills allows access to essential services even when cash is limited at the moment. This ensures that services such as electricity and gas are not interrupted, thus avoiding the inconvenience of service disconnection.

Step 2

Disadvantage

99%

104 rated

Answer

One significant disadvantage is that if the credit bill is not paid on time, high interest charges can accrue. This may lead to debt accumulation, especially if interest rates increase, making it difficult to predict the total amount owed over time.

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