difference
Storyboard Text
- Slide: 1
- Hey Emma, I was thinking of opening a bank account. what's the difference between a checking and a savings account?
- good question Zack! a savings account is for long term goals, like saving for college or that car you really want and you get interest!
- but a checking account can be used for daily investments, like buying coffee or getting take out from that place you like
- Slide: 2
- hey Emma! I got that bank account but now I want to know if I should pick a credit card or a debit card. What's the difference?
- another good question! a credit card is the banks money, and at the end of the month you need to pay them back for what you spent, and you have to pay interest to the bank
- while a debit card takes money directly out of your bank account and you don't have to pay anything back to the bank for spending money
- Slide: 3
- Hey Emma, one more question for you, whats the difference between paid interest and earned interest?
- good question Zack, the difference is that paid interest is the interest you have already received as payment
- when a paid interest is interest you earned on an investment over a specific period of time
Over 30 Million Storyboards Created
No Downloads, No Credit Card, and No Login Needed to Try!
