All about debt
Debt is when you owe
money to the bank.
For example you
borrow some money
from the bank
and you cant pay
it back.Or you just
spend more money
the you have in
your bank.
Morgage
A morgage is when
you buy a house
and the bank
lends you money
and you have to
pay it back over
a certain time its
usually about 25
to 30 years.
On Friday afernoon West Brom building society came in and taught us all about finance and
debt.We also learnt about morgage
and how much of a struggle you can get into.Debt can be very tricky because you can get into a position were you owe more money to the bank than you have got.
Salarys
.nurse £25,000
.hairdresser £18,000
.docter £75,000
.famous footballer £15,000,000
Fire Fighter £27,000
Primeminister £142,000
Here are some of the salarys that people get per year. We were wondering why a footballer gets £15million per year and the primeminister get a lot less. This is because you go to see footballers and you pay a lot of money but you dont go to see a prime minister play football.Some people in year 6 were surprized that footballers get so much money for just playing a game of football when the primeminister has a very important job and he/she does somuch more.
Money is very valuable!!!!!!!!!!!!!!!!!!
by Evie.c and chloe.h