Negative and positive about borrowing.



Borrowing is bad.Bad because you might not be able to pay pack the money however it costs more than you asked for in the first place .The good things about borrowing is that you might need to pay for a medicen or need to buy you and your family food so you could go to the bank and ask for some money .The bad thing is that you will need your money to pay your bills.The good thing is that if you dont borrow you wont have to pay it back.Another thing is that if you need it for any emergancey you can call the bank and tell them you need your money immidiatley.If you dont want to do it that way you can call your trusted friend to lend you some money from him/her.

Comments (2)

  • Evelyn-Street-logo-250x250.jpg placid_meerkat
    Evelyn Street Primary School3 days ago

    Well if you can't afford it then you would pay it back over the years. Or months because you could say you lent £50 you could each month pay £10 then you would only have to pay for that amount of money you borrowed.

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  • St-Barnabas-logo-250x250.jpg elated_parrot
    St Barnabas C of E Primary School2 days ago

    I reckon the positive effect of borrowing is what you can do with the money. You can use it for whatever you want as long as you can pay it back. Another thing is you can pay it back monthly or even weekly.The negative is that people don't or can't pay it back meaning the banks run out of money.
    In conclusion borrowing is good but only if you can pay it back afterwards. For example, borrowing is good if you work hard and get more money to pay it back monthly. Bad because if you cannot get more money to pay it off.

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