Financial Literacy for Kids – Finance for Kids – Financial Capability – Teaching Kids about Money #Finance

welcome to learningmole.com today we are going to look at different types of bike accounts rn remember you told me to save my birthday money yes and did you yes i decided that i wanted to save up for something big something big like a car no silly a CashNews.co game console good idea then i

can play it too but aaron remember he said that i had to put my money away in the cfps yes well i can’t remember where i put it oh james what will we do with you you really need to ask mom to get your bank account good idea but there’s different accounts which one should i get

don’t worry mom and dad will help you with that but i’ll explain for you you are correct there are two main types of accounts current accounts and saving accounts Savings that’s exactly what i made yes but you may want to turn the kite when you’re a little

older why what’s the difference well saving accounts doing exactly what they say they help you deceive if you put money in these accounts you will usually earn a higher interest which means you’ll have even more money than what you put in that sounds amazing but what’s interest

well interest is money that the bike will give you for saving your money with them the idea is that you leave your money in there for a long time and you save enough to buy what you want free money well not really banks pay interest because they use their money for other projects it’s like

renting a bike on holiday if you want to have a bike for two hours you must pay the owner some money buys work in the cmwa they will borrow your money for a while and pay you a rental fee or interest oh i never knew that so what’s the current content well current accounts are different

because they are accounts that you may use to put money in and take it back out often most bikes won’t allow you to open one of these accounts until you are 11 so you might have to wait a while games basically a current account allows you to put money in take money out pay for things in shops

and online and even get an atm card an atm card that’s the card that you can use to take money off a cash machine isn’t it yes exactly you can also use atm or debit cards to pay for things but that’s for another day okay so a saving the count to this day now i just need to find my

money hiding please where did i remember now i put it in an old smelly sock to stop anyone from stealing it oh no i hope mom hasn’t washed it dms time to get a bank account hope you enjoyed learning with us today please don’t forget to subscribe and give us a like why not pop over and

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