How Money Works?
People also go to banks to cash checks, which are pieces of paper that represent money. The amount written on the check is the amount of money it is worth.
This check is worth $100, as you can see by the money in the box on the right. If John Smith goes to cash the check at his bank, he will get $100 back. This money can go to his account, or he can get a $100 dollar bill for it.
How Do People Get Money?
Money comes from a special factory run by the government. This is where they print the dollar bills and press the coins. Once the money is printed, it goes to banks so people can have it.
Money does NOT grow on trees!
You may get money through your allowance, if your parents give you money for doing chores around the house. You might also get money from gifts or from things you sell to your friends, like friendship bracelets.
How Do People Store Money?
Most people store money in a bank account because the bank keeps their money protected. However, you can also store money in a piggy bank, a shoe box or anything else you want. If you put it somewhere safe, your money will be protected.