How to avoid the Financial Crisis

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The main topic is about the Financial Crisis. People becoming homeless... banks becoming bankrupt...people owing debt... So I've decided to write a post about some of my ways to avoid another Financial Crisis.

How we can avoid a Financial Crisis:

1. The government could influence more people to work for them. Doing jobs which could not also help avoid the financial crisis, but also help the envoionment. (Binmen, Doctors, etc.)

2. People should look out for other people if they're over-spending or wasting money. (You could waste money with betting or buying things you don't need, e.g. super expensive games.)

3. Banks should be smarter in checking that people who they loan to would definiteley be able to pay them back that monthly or yearly fee they were assigned to.

4. Family and friends could help each other by giving out small amounts of money if someone's in need. You might not even need to be repayed as you'd give out of kindness

5. People need to be able to spread knowledge by telling people points like these so that more people know what to do if in need or someone they know is in need. Or so that possibly the government might happen to hear these things so they hire more people etc.

These are a few points I thought of and I'd be happy to hear what other ways people can avoid a Financial Crisis in the comments below!

Comments (23)

  • Olivia-Avatar.jpg Olivia @ Topical Talk
    05 Nov 2018

    Well done for giving original ideas here, you have shown great curiosity, especially in weeks one and two of the new Issue!

    I'm going to set everyone a challenge. Can you show one of the BNC skills and be sceptical about these suggestions? But it's important to be sceptical about suggestions you hear. If you are sceptical it means you challenge something or ask for more evidence of information - you don't just accept that something is true. This isn't to say it isn't a good post, because it is!

    For example, I'm sceptical that family and friends could stop another financial crisis, because I think the banking system overall has much more power and responsibility than individual people.

    What do you think? It would also be great to hear some counter-arguments to the challenges too!

  • St-Gregorys-logo-250x250.jpg entertaining_tangerine | St Gregory's Catholic Primary School B| United Kingdom
    05 Nov 2018

    Energetic conversation your first way to prevent a final crisis is making me think again if more people are going to get importanter job more qualifications but the GCSE s are getting harder and pupils are trying harder . Not every one can certainly succeed.

    1. St-Josephs-Northfleet-logo-250x250.jpg energetic_conversation | St Joseph's Catholic Primary School, Northfleet
      entertaining_tangerine's comment 06 Nov 2018

      For some jobs the government pay you for you don't need to be smart to do them... e.g. binmen.

  • Bruche-logo-250x250.jpg cheerful_river | Bruche Primary School | United Kingdom
    06 Nov 2018

    Children don’t need pocket money and buying things not needed exetra

  • Boutcher-logo-250x250.jpg cherished_coconut | Boutcher C of E Primary School A | United Kingdom
    07 Nov 2018

    I think you are absolutely right, this could help people with financial crisis

  • St-Josephs-Northfleet-logo-250x250.jpg crafty_panda_bear | St Joseph's Catholic Primary School, Northfleet
    07 Nov 2018

    I think you are totally right this could help avoid the financial crisis a lot but do you have any back up plans just in case these amazing solutions you've mentioned don't work?

  • Ormiston-Bushfield-logo-250x250.jpg trusting_politics | Ormiston Bushfield Academy A | United Kingdom
    07 Nov 2018

    I completely agree with you however I would like to mention and add a few things. To start with on your first comment you mentioned that the government should try to influence more people to come and work for them. If they where to do this then there could be some problems as some jobs like working in a shop would not be filled and there might not be enough positions for people to fill so they might end up jobless which would not be very good.

    Also on your second point you mentioned that people should watch out for over spending. I completely agree with this because lots of people overspend and lots of people do not even realise and then get a bill just getting bigger and bigger.

    For your fourth point you explained that family and friends could help people by giving small amounts of money for those in need. This could cause problems as those in need might be living off small bouts of kindness and not doing enough to help themselves and you might have worked really hard for that money. I think that it was a great idea but I am not overly sure that it would work.

    I completely agree with your 5th point. I think the main thing that the government could do along side banks is to spread awareness about the financial crisis because most people have never heard of it and those that have might not fully understand it.

    1. Olivia-Avatar.jpg Olivia @ Topical Talk
      trusting_politics's comment 08 Nov 2018

      An excellent response which shows great scepticism, where you have challenged the other BNC member and given reasons why!

    2. St-Josephs-Northfleet-logo-250x250.jpg energetic_conversation | St Joseph's Catholic Primary School, Northfleet
      trusting_politics's comment 20 Nov 2018

      For your third paragraph you mentioned that family members shouldn't give money to others in need as they need to fend for themselves. In my point of view the family members gave a little money as a boost. I'd expect the person to earn the rest of the money themselves. I know I said you might not be repaid but after they start earning a proper amount of money they probably will anyway. If they didn't pay it back and wouldn't really expect family members to give THOUSANDS as that might be a problem. If it were like that I'd agree with your point, though that's NOT what I meant and I'm therefore contradicting you.
      I hope this causes a slight change to your perspective.

  • Ravenscroft-logo-250x250.jpg strong_river | Ravenscroft Primary School
    08 Nov 2018

    I think you can avoid this by giving your money to the bank and by not being greedy when the bank gives you money because the bank could and can go bankrupt.

  • Streatham-Wells-logo-250x250.jpg communicative_outcome | Streatham Wells Primary School
    08 Nov 2018

    how you can avoid it again is the banks don't give u to much money and the people who are borrowing the money don't ask for a lot

  • Bruche-logo-250x250.jpg lucky_ostrich | Bruche Primary School | United Kingdom
    12 Nov 2018

    Very good reasons on how to avoid it. It’s way better then one of my posts.

  • Notley-Green-logo-250x250.jpg thoughtful_dove | Notley Green Primary School
    12 Nov 2018

    Thank you I completely understand it now.

  • Bruche-logo-250x250.jpg sensible_shrimp | Bruche Primary School | United Kingdom
    15 Nov 2018

    Thanks for the tips for my future self 👍

  • Millbank-logo-250x250.jpg attentive_perspective | Millbank Academy A
    17 Nov 2018

    If families keep giving each other money then everyone could run out, especially if the money (if on purpose or buy accident) is not used on a good cause and if you are in urgent need you might not get the money in time.

  • Streatham-Wells-logo-250x250.jpg focused_measurement | Streatham Wells Primary School
    18 Nov 2018

    I think the bank should be more careful with what they are giving out and not trust as many people then they would not have this crisis and there will not be any more problems.

  • Millbank-logo-250x250.jpg content_road | Millbank Academy A
    19 Nov 2018

    True

    1. Tiff-Avatar.jpg Tiff @ Topical Talk
      content_road's comment 20 Nov 2018

      Hi content_road. Great that you agree. Try to give reasons in your comments.

  • St-Josephs-Northfleet-logo-250x250.jpg trusting_technology | St Joseph's Catholic Primary School, Northfleet
    20 Nov 2018

    very good tips but why would they work what if they don't work?

    1. St-Josephs-Northfleet-logo-250x250.jpg energetic_conversation | St Joseph's Catholic Primary School, Northfleet
      trusting_technology's comment 20 Nov 2018

      My first point would work because if there was a Financial Crisis people wouldn't be losing their jobs as the government would provide the money for them to be paid. My second would most probably be out of choice and would depend on if your family members cared for you. Most parents would be there to help out. If not there would be a wide variety of friends to depend on if you're lucky. Or you could just make the right choices out of your own decisions. My third point would need to depend on The Bank of England (TBE) and maybe my fifth point. As the 'TBE' would need to be stricter and most people are already demanding for this. I'll be writing a post about that soon. My fourth point would be very similar in answer as my third and I've written a bit about it in other comments. on this post. By writing this post I have already started with point five by writing it down for everyone in BNC to see.

  • St-Josephs-Northfleet-logo-250x250.jpg crafty_panda_bear | St Joseph's Catholic Primary School, Northfleet
    27 Nov 2018

    I personally agree with you because:
    1. The Binmen and doctors and others don't really suffer much with the Financial Crisis because they get paid by the Government.
    2. The people with businesses have a higher risk of getting hit by this chaotic crisis.
    This is why I think you are correct and understand your point of view it really made me see your perspective of this issue and more ideas on how to stop/prevent it.

  • Evelyn-Street-logo-250x250.jpg meticulous_cheetah | Evelyn Street Primary School A
    03 Dec 2018

    I really enjoyed your ideas about how to stop a financial crisis. Please proceed to make more! Maybe you could cover brexit?!

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