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