Video transcript

Did you know, there are lots of different ways to pay for things? Let’s look at some, so you can manage your money now and in the future.

First up, bank cards. Just one tap to pay for a yummy drink, cinema ticket or a new book. But did you know, not all bank cards are equal? There are different kinds. A debit card is like a key to your bank account. Use it to spend the money you’ve already got in there. The money comes out straight away so be careful not to spend too much, too quickly. Best to keep track of what you’re buying. Use it in shops, online or to get cash.

Next up, pre-paid cards. These are great if you’re not old enough for a debit card. Grown-ups load it up with money for you to spend. They’re often linked to an app, so you can always see how much you have. Don’t go too wild. Your grown-up can track and limit your spending. And once it’s gone, it’s gone. Plus, you can keep an eye on your own spending and save up for something you want.

Now, credit cards. Things get a bit tricky here. First, you need to be an adult to have one. Credit cards use money borrowed from the bank. This must be paid back later with extra cost, if you're late. They’re useful for big expenses and emergencies.

Let’s talk digital wallets. If you spot someone tapping their phone near the till and hear a [ching] – that’s someone using their digital wallet to pay. Link all bank cards to your phone, and hey presto everything’s in one place. It’s like having your wallet inside your phone. Set a secure password or use Face ID to protect your money if it gets lost.

Next up, cash. If you have cash in your pocket, you’re good to go. You can spend it, save it or donate it. It’s your choice.

Finally, online banking. A lot of people use this while on the go to track their money and make payments to others in just a few clicks. Online banking is super safe and secure too – phew!

And that’s it! Lots of different ways people use to pay for things. Ker-ching!