DEBT!!!

OH MY GOSH!!!!YOU'LL NEVER GUESS WHAT I FOUND OUT TODAY?!?! I found out about debt.What is it? Debt is when you owe something. I bet I know the first thought that pops in your head when you hear the word debt, and that's money. Not always is debt money.

There are so many different types of debt, for example: money,overdue books homework etc. If you owe someone money and you don't pay them, you are in debt because you didn't pay them! The more you put off paying the other guy his/her money, the more debt you build up. If you owe three books to the library and don't give the books to the library by the due date, you are in debt. You'll have to pay a small fee for each day you put off giving the books to the library and that could grow into a lot of money you'll have to owe.  Debt!!!!!!!!!!                                                                                         

Last is homework. If you don't turn in your homework by the due date, you are in debt. The more you put off doing that homework, the fewer points you earn for that assignment which puts you in more debt than you were in from the beginning. If you don't do your homework, your grade goes down. If your grade goes down, you fail that class. If you fail that class, you get in trouble with your parents and it goes on your record and that's not good when you're getting ready to apply for high school or college. So it would be good to say that it is IMPERATIVE for you to do your homework.

Here is how to stay out of debt.Well with money, just pay when you suppose to pay. Already have that money ready to pay to that person/place you owe.With overdue books, take care and keep up with them so when it is time to get them back to the library you'll have them in tiptop shape and you'll have them on time. With homework, just do it. It is not going to hurt you to do it. It is just going to make you smarter. You're not going to die, get in trouble or none of that sort. It helps you instead of hurts you.

So, all in all this is what I have learned today.  Debt is important, and you should try everything you possibly can to stay out of it.Why? Because it can hurt you badly in the long run.

 

Like you and I, the government can be in debt too. The government can owe money to other countries and people. The video explains how.