finance kaaksha
If you're a beginner looking to learn the basics of personal finance, you will get all your findings in one place
YOUR GUIDE
If you want your child to become well-equipped to handle finances, it is the right time for you to indulge in teaching kids about banking. We will list some common terminologies related to bank that a child must know about
Do you know...
Deposit is a term used to denote the money kept or held in any bank account, especially to accumulate interest.
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A cash withdrawal refers to taking money out of a bank account, usually a checking account, in the form of cash
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It is a sort of reward that the bank pays you for for parking your cash in a savings account
ADVICE
Best way of teaching kids about banking is by taking them physically to the bank quite often. This will motivate them to a greater extent as they will understand and visualise how people deposit and take in money
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It is the amount you borrow from someone and repay to its owner along with some interest added to it.
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When you are purchasing something without actually paying cash, rather than using your credit card.
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A debt is the sum of money that is borrowed for a certain period of time and is to be return along with the interest