Wednesday 9 December 2020
Sunday 8 November 2020
Sunday 18 October 2020
My Volcano discription
Boom! I looked out of the window, red hot lava oozes out of the volcano, taking out trees and cars. The volcano was making grey volcanic ashes that ascended into the night sky. Snow on the volcano begins to melt from the heat that the volcano produced. Thunder and lightning strike the volcano as the mountains begin to shake. The smell of lava was intense, a mix of fire and rock. As the lava flowed down the mountain making its way onto the road, *(random) pedestrians panic, running around. It was hectic, with people running around, lava getting even closer.
Tuesday 4 August 2020
How Banks Work
WALT-Explain how a bank works
How Banks Work
How do banks work? Banks have been around for thousands of years, in fact, the first bank was opened in 1401. They're basically physical Automatic Teller Machines (ATM). Piggy banks are small places to keep your money safe, banks give out interest, which increases your money, so banks are different from piggy banks because they’re bigger than a piggy bank and better. When you give banks money, banks will keep your money in a safe place, either in vaults or on a secure computer(E-banking).
Is it easy to open a bank account? Yes, bank accounts are sometimes stored in vaults. Bank accounts can also be accessed using computers of all types. Bank accounts are directly linked to your credit card or Debit card. You can use your credit or debit card to pay for things you buy, by using Electronic Funds Transfer at Point Of Sale (EFTPOS) to pay. When you start a bank account you also get interest from the bank. Interest is when you have money in your savings account and the bank pays you a percentage of money in your savings account. For example, you have one hundred dollars in your bank account, the bank gives you two percent of the money in your savings account, in this case, you get an additional two dollars every year.
The bank also is a good way to keep your money safe. Banks have a safe system and have maximum security. Bank robberies are extremely rare. When you earn money when you grow up, you can put money into your bank account, either savings or on your everyday account. There is also a thing called a credit score, you will need to register for one. Credit scores are a meter showing how good you are with your money. If your credit score is over fifty, then you are credit-worthy. Credit Scores help you get more money when you need a loan or need to borrow money from someone or the bank.
The bank doesn’t work with hundreds of dollars, instead, they work with millions of dollars. A loan is money that you borrow from the bank. E.g Someone needs to borrow seven hundred dollars and they agree to give back the money. The interest rate is seven dollars, so in total, the person borrowing the money will have to pay seven hundred and seven dollars, because the interest rate is seven percent. Lending is giving a person money, in other words, nearly the same as a loan, but not the same.
Currency is money from a different country. There are many different currencies e.g European Euros (EUR), U.S dollars (USD), New Zealand Dollars (NZD), British Pound (GBP), and much, much more. By more I mean there are 180 current currencies, the oldest one by far is The British Pound, dating back to the 8th century. Currency has different values like 1 British Pound is 1.98 New Zealand Dollars, and 1 New Zealand Dollars in British Pounds is 0.51 British Pounds. There are also Bitcoins, which is Computer money, Bitcoin is worth 17019.97 New Zealand dollars! There is only 14 million Bitcoin to mine and by the way, you ‘mine’ bitcoins.
Banks are essential to the economy because they’re a reliable place to keep your money safe. Even though you are a kid, you still can open a bank account, a kids’ bank account. Banks are also very fast. Without banks, we would not be able to borrow money and can’t do the things banks help us do and besides, 1.2 million adults have bank obtained accounts. Kids bank accounts also have parent control, so you don’t spend too much money. Kids’ also sometimes don’t get given EFTPOS or Debit card until their 12, so you’re in control. Children’s accounts are also free from taxes and fees, so it’s all up to the parents to pay all the stuff and best of all you can get interest ( The good type ), so over time, your money will grow.
Are you going to open a bank account? If the answer is yes, then what are you waiting for?! If the answer is no, well many later. As I said banks are essential to the economy. Many people use it and you can get interest. Also, don’t forget to sign up for a credit score if you can! And most importantly, be money wise.
Monday 3 August 2020
Pattern Shapes
