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Checking Accounts and Debit Cards

  • Grades 6-8
  • Life Skills & Career Paths
  • JS:SS-3
  • Money & Banking
  • Free lesson

Aligned to JS:SS-3 — Jump$tart National Standards in K-12 Personal Finance Education & Advance CTE Career Clusters.

What this lesson teaches

A checking account holds money you plan to spend soon and gives you several ways to move it: a debit card, a check, an online transfer, or cash from an ATM. A debit card spends money you already have — that is the whole difference between it and a credit card.

Worked examples

Example 1

You have $240 in checking. You tap your debit card for $18 of groceries; the balance is now $222. The money left immediately.

Example 2

Spend more than your balance and the bank may cover it and charge an overdraft fee, often $30 or more. A $4 coffee can cost $34.

Example 3

A debit card is tied to your actual money, so fraud on it empties your account while it is being investigated. That is why many adults use credit for online purchases.

Practice questions

  1. Name three ways to move money out of a checking account.
  2. What is the difference between a debit card and a credit card?
  3. Explain how a $4 purchase could end up costing $34.

Watch the lesson

Every lesson comes with a video taught in English and Spanish — the same video the QR code in the printed workbook opens.

▶ Watch this lesson

En español

Cuentas de cheques y tarjetas de débito

Una cuenta de cheques guarda dinero que piensas gastar pronto y te da varias formas de moverlo: una tarjeta de débito, un cheque, una transferencia en línea o efectivo de un cajero. Una tarjeta de débito gasta dinero que ya tienes — esa es toda la diferencia con una de crédito.

Ejemplo 1: Tienes $240 en tu cuenta. Pagas $18 de mandado con la tarjeta de débito; el saldo queda en $222. El dinero salió de inmediato.

Ejemplo 2: Si gastas más de tu saldo, el banco puede cubrirlo y cobrarte una comisión por sobregiro, muchas veces de $30 o más. Un café de $4 puede costar $34.

Ejemplo 3: La tarjeta de débito está ligada a tu dinero real, así que un fraude vacía tu cuenta mientras lo investigan. Por eso muchos adultos usan crédito para compras en línea.

More Money & Banking lessons

Building a Monthly Budget That WorksJS:FD-7How to Write a CheckJS:SS-4Endorsing a Check and Reading a Bank StatementJS:SS-5Emergency Funds and Compound InterestJS:SS-6

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