Credit v. Debit

Watch this video by Bank of America with your kids. Show them a recent bank and credit card statement. Explain how your bank account is linked to your debit card while your credit card is not. Point out the interest rate on your credit card statement.

Questions to Ask: 
1. Why do we use credit versus debit?
2. What are the benefits of credit?
3. What are the downfalls of credit?
4. How should a responsible adult deal with credit versus debit?