Good about saving and borrowing

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saving

Saving your money is a brilliant.Brilliant because it helps you pay for things that you despertily need like a house to live in. When your young you can have a saving acount that helps you when your older so when your older you can take money out because you'll have so much you can buy things that you need to live with or you could just keep saving until you want to stop . A saving acount is when you put as much money you want in weekly or monthly . Saving is a good thing because you want to live a good a good life when your older .

Borrowing

Borrowing is needed becease say you need to buy a medicen for someone whos realy porly they need to make them better . Excample if you need to buy food for your children and you dont have any money go to the bank and ask to borrow then after when you have got the money just give it back . Borrowing is needed because its giving people to try get money aswell because the bank is giving money to them and its teaching the people who are borrowing money to get money . I think that because they've got to give money back and it making them earn get money for themsef in the future .

opinions

Well in my opinion i think saving better because when you borrow somtimes you have to give a little bit more money back to the bank . I think saving is better than borrowing because if it takes you longer to pay back the money they charge you more and it gives you a better live a lots more money to live with . Borrowing isnt bad but when your asking for money your earning it back and giving more than your asking for .

What do you like better saving or borrowing from the bank ?

Comments (2)

  • Olivia-Avatar.jpg Olivia @ the BNC
    09 Nov 2018

    Well done for giving lots of reasons here for your view - you've been awarded a star for this. You've only mentioned the positives of each, so I was wondering whether you could be sceptical and suggest reasons why borrowing and saving might be bad?

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    1. Morley-Newlands-logo-250x250.jpg tenacious_whale | Morley Newlands Academy
      Olivia @ the BNC's comment 13 Nov 2018

      If your saving to much like if your saving £500 a week you'll only have £200 live on for a while or when you die early you've been saving for a long time and have not of been able to spend it at all . Borrowing is bad because you don't have the money to pay it back and then if the bank is letting you borrow they wont have money them self so the bank wont have any money left .

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