Checking
What is direct deposit?
Your employer sends your paycheck directly to your bank.
Can you withdraw money from your savings account using a debt card?
No
What is a credit card?
Do you have a credit card? Would you like one for yourself?
You have an unlimited amount of money to spend on your credit card.
True or false
FALSE
What is a short-term goal you can save for?
Answer varies.
Checking and savings accounts are the same.
True or False?
What is a checking account?
Meant for paying bills or spending money, money you currently have in your account.
Purpose of a saving account?
Hold and grow your money.
What are two ways you can deposit a check?
Going into the bank and through a mobile app, using a picture of the front and back.
What is a debit card?
A card that is connected to your checking account for everyday use.
What is interest?
A small piece of money given for leaving money in your savings account.
A fee for withdrawing more than you have in your checking account.
Overdraft fee
What is interest? Or give an example if easier.
Money you owe to the bank when you cannot pay the full amount back that was borrowed.
What is a longer-term goal you're saving up for?
Answer varies.
Negative with high savings (or yield accounts).
Higher interest rates