Glossary
Plain-language explanations of money terms and financial concepts for families.
What is cashback and how does it work? Understand it’s benefits
What is cashback? Learn how cashback rewards work on debit and credit cards, at checkout, and in banking. Discover how Modak helps teens earn rewards!
July 8, 2026
Debit vs Credit: What’s the best choice for kids?
Debit vs. Credit for kids: Discover which is safer. Learn why Modak’s debit card is ideal for teaching financial responsibility.
February 27, 2026
Building credit made simple: The power of secured credit cards for teens
Explore the benefits of secured credit cards for teens, how they work and the safety features they offer.
February 27, 2026
APY vs interest rate: Understanding the difference
Learn the difference between APY and interest rates, how to calculate them, and their impact on your finances.
December 22, 2025
Benefits of using a debit card over cash for kids
Discover the benefits of using a debit card over cash for kids. Learn how Modak’s child debit card can help kids manage money and track spending.
December 22, 2025
Can kids shop online safely with a debit card?
Is using a debit card online safe for kids? Learn how Modak's security features protect children while shopping online.
December 22, 2025
Understanding the differences between debit and credit cards
Debit and credit cards are two types of plastic cards that allow you to make purchases without carrying cash.
December 22, 2025
Financial plan: a way to plan for your future and your kids’ future
Learn what a financial plan is, how to create one, and why financial planning is important. Discover practical tips for personal and family finance.
December 22, 2025
What age should kids get their first debit card?
Wondering when to give your child a debit card? Learn about the right age for kids to start using debit cards, and tips for safe financial management
December 22, 2025
How to calculate opportunity cost: A guide for teens
Learn how to calculate opportunity cost and trade-offs, and practical example. Discover how to make smart financial decisions with Modak Makers.
December 22, 2025
How to teach my kid about money with a debit card
Learn how to teach kids about money using a debit card. Discover tips on budgeting, saving, and responsible spending, and how Modak’s app can help.
December 22, 2025
Tech is changing how we deal with money: Let's talk Fintech!
Fintech is changing how we interact with financial services, and plenty of new companies are making it happen.
December 22, 2025
Unlocking the doors to financial freedom: The power of a good credit score
A good credit score can impact your financial future, helping you secure loans, lower interest rates and more.
December 22, 2025
What are assets? Learn about examples and synonyms
Learn about asset finance definitions, types of assets, and how to manage them. Understand the difference between liquid and non-liquid assets.
December 22, 2025
What is a financial mentor? A teen’s guide to smart money advice
What is a financial mentor, and why do you need one? Learn how financial mentorship helps you build money habits, grow savings & plan for the future.
December 22, 2025
What is gamification and how can It teach financial skills?
Discover how Modak gamifies financial literacy for kids and teens with fun challenges and rewards, making learning essential money habits engaging.
December 22, 2025
Why isn't child support tax deductible?
Can you claim child support on taxes? Learn why it's not tax-deductible, if it's considered income, and how Modak helps parents manage money smarter.
December 22, 2025