But Why: A Podcast for Curious Kids cover image

Who Invented Money?

But Why: A Podcast for Curious Kids

CHAPTER

Saving Money With a Debit Card

When your parents go to buy a car, oftentimes you don't have that much cash sitting around. So because they let you do that, you have to pay them a little bit of int st is what it's called. Also, when you save money into a savings account, banks and credit unions give you like a reward for that. A debit card is different than a credit card, because a credit card is borrowed money from the bank. When i go to the grocery store and spend 20 dollars, and i use my card, the 20 dollars comes right out of my checking account.

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