My debit card is so great because it just comes right out of my savings account without me even having to pay it back.
No, Credit cards are way better because it doesn't come out of your savings account the money you just pay back when you are ready.
I use a savings account. I am saving up for a new basketball hoop. I also keep money in my savings account for if I needed something for an emergency. I also earn interest off my savings account.
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Checking accounts are for every day needs like getting eggs from the store or getting clothes from the store. That is why I like checking accounts more than savings accounts.
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Interest earned is like if you have a savings account and the back gives you money called interest to keep your money in the bank. Interest paid is like if you have something that needs to be paid off like a house loan they will keep adding interest until you pay it off.
Some people might ask. What is the difference between interest paid and interest earned. Well I'm here to answer that for you.
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