Personal account
Okay kiddo, so imagine you have a piggy bank where you keep all your pocket money. This piggy bank is like your personal account. It's just for you and no one else can access it without your permission.
In the same way, adults have personal accounts with banks. They may have a checking account where they deposit their paychecks and use that money to pay for things like food, clothes, and toys. They may also have a savings account where they put some of their money aside for big things they want to buy in the future, like a new bike or a computer game.
Just like how you can't give your piggy bank to someone else to spend, adults can't give their personal account to someone else. It's their own private account where they keep their money safe until they need to use it. And, just like how you might get a little bit of extra money in your piggy bank if someone gives you a gift, adults might get some extra money added to their personal account as interest from the bank.
So, that's essentially what a personal account is - a safe, private place for adults to keep their money until they need it.
In the same way, adults have personal accounts with banks. They may have a checking account where they deposit their paychecks and use that money to pay for things like food, clothes, and toys. They may also have a savings account where they put some of their money aside for big things they want to buy in the future, like a new bike or a computer game.
Just like how you can't give your piggy bank to someone else to spend, adults can't give their personal account to someone else. It's their own private account where they keep their money safe until they need to use it. And, just like how you might get a little bit of extra money in your piggy bank if someone gives you a gift, adults might get some extra money added to their personal account as interest from the bank.
So, that's essentially what a personal account is - a safe, private place for adults to keep their money until they need it.