If I won $50 from the school raffel, I would put it all in my bank account. When you put money in a bank, it grows interest. In other words, you earn more money because the bank pays you to keep money in their company. ( I know right, paying you to keep money in a certain place. Don't worry, you can trust them.) Usually, a bank gives you around 3% interest for whatever you put in. At the end of the year, I’d have around $51.50. Currently, I don’t have anything I really need or want, so I’d just keep it in there for as long as possible. I’d say that the $50 (plus interest) would be my emergency money. In conclusion, I wouldn’t spend any money. (Unless I really had to.) Winning a raffle is always fun, what would you do?
If I won a raffle, I think that I would save it tit a bank to grow interest as well. I would only spend it if I really really wanted something, but it will probably cost more than $50, so I will probably just save up. What would you buy if you didn't save it in a bank?
ReplyDeleteIf I didn't save it in a bank, I'd probably buy christmas gifts. It's never too early, right? I'd also probably donate some of it to an animal shelter.
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