Interest

Interest is like a fee you either earn for saving money or pay when you borrow it.

When you save, the bank gives you a little extra money over time as a reward for letting them use your money. It's like planting a money seed that grows into a bigger plant with more money (interest). But if you borrow money, like getting a loan or using a credit card, you have to pay extra money back, and that's the interest you owe.

So, interest can either be a reward for saving or a cost for borrowing, and it's important to understand how it works in managing your money.