Debit

Meaning:

A debit is an amount of money taken out or deducted from your bank account. When you buy something, take out cash, or pay a bill, the money leaving your account is

recorded as a debit.

Example:

Debits track the money going out, helping you see how much you spend.  They show your account balance by reducing the amount of money you have.

How to understand debit:

Debits track the money going out, helping you see how much you spend.  They show your account balance by reducing the amount of money you have.

Importance of Debit:

It helps you manage your spending and maintain financial discipline.  Knowing your debits prevents you from overspending.