3/1 - Financial Literacy—Debit and Credit | Learn the difference and when to use which

What are the two different types of cards used to pay for items? (PICK TWO)

• credit history

• credit card

• debit card

• bank statement

Financial Literacy is.....

• Learning how to spend money on whatever you want 

• Understanding and using specific skills to manage money smartly 

A debit card is a small, hard, plastic card that is linked _______ to your bank account.

• indirectly

• directly

Debit Card is linked to which account ? 

• Checking account/Bank account 

• Cash you have in your pocket 

• Money you are borrowing 

A debit card is...

• money you already have

• money that is borrowed

Credit cards are basically a type of...

• money that was given to you.

• money that you worked for.

• loan.

Credit cards.... 

Select multiple answers 

• is a loan (borrowing money from a bank)

• has a credit limit (max amount you can spend)

• have to make a minimum payment per month 

Credit cards get charged interest if you do not pay it in full every month.

• True

• False

Would you pay for the bike with a credit or debit card?

Why?

What is one purchase you would make using a credit card

What is another purchase would you make using a debit card?