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| Name | Financial Literacy—Debit and Credit | Learn the difference and when to use which |
| Video Uploader | Video From Learn Bright |
| Upload Date | This Video Uploaded At 02-11-2023 15:00:39 |
| Video Discription | So what's with those small, plastic cards that adults use to buy stuff? In Financial Literacy—Debit and Credit, your students will discover the answer to that question. They will also realize that credit cards and debit cards are different, and each one can be helpful in different ways. Credit cards and debit cards are both small, hard, plastic cards. But apart from that, they are quite difference. Credit cards, for instance, are not linked to a bank account, but debit cards are. That means you can use debit cards to pay for things with money you already have. Generally speaking, a debit card is directly linked to a checking account. Credit cards use money that is loaned. You can use it to buy something and pay for it later. Credit card companies issue credit cards, and it's like a type of loan. You can pay back the loan according to the credit company's schedule. You usually have to make a minimum payment each month to reduce your debt. They can also charge interest if it takes you longer to pay the money back or if you don't pay the full amount back every month. However, if you pay your credit card bills in full every month, you won't be charged any interest. We hope you and your student(s) enjoyed learning about these important skills! If you want even more information, head over to our website and download one of our many free lesson plans, full of activities, worksheets, and more! https://learnbright.org/lessons/math/financial-literacy-debit-or-credit-cards/ https://learnbright.org/lessons/math/introduction-to-financial-literacy/ Thank you for watching and learning with us! We’re constantly releasing new content and videos, so click that “Subscribe” button and you’ll get notified. What you will learn in Financial Literacy—Debit and Credit: 0:00 Introduction 1:11 Difference between debit and credit cards 2:11 How credit cards work 3:04 Example with Frankie Finance—credit card 4:13 Example—debit card Find and Follow Us Online: Facebook: https://www.facebook.com/LearnBright/ Instagram: https://instagram.com/LearnBrightEducation Pinterest: https://pinterest.com/LearnBrightEducation YouTube: @LearnBright Website: https://learnbright.org/ *Teachers and Parents! Did you know? In addition to these great videos, we have also created a library of high-quality and engaging lessons for your elementary aged student(s). Visit us and sign up for a free account, and you'll instantly have access to thousands of lesson plans, learning materials, teaching instructions, activities, and assignments that your kids will really enjoy! We hope to see you soon! Browse our entire collection of Math lesson plans: https://learnbright.org/lessons/?filter_subject=math #FinancialLiteracy #FinancialLiteracyForKids #Credit #DebitCard |
| Category | Education |
| Tags | financial literacy | financial literacy for kids | finances | finances for kids | credit vs. debit | credit cards | debit cards | difference between credit and debit | is credit or debit better | Learn Bright |
