Banks & Saving
What banks do and why people use them; bank accounts as safe places for money; that savings in a bank can earn interest; children's savings accounts
What a learner can do afterwards
- Explain what a bank does in simple terms (keeps money safe, lets you save)
- Describe what interest means (the bank pays you a little extra for keeping money there)
- Name one reason a bank account is safer than keeping all your money at home
The lesson
A bank is a safe place to keep your money. When you put money into a bank, it does not just sit in a jar at home. It goes into your own account, and the bank keeps track of exactly how much money is yours.
Ravi keeps ten dollars in a piggy bank on his shelf. One day it gets knocked behind the bookshelf and he cannot find it. His sister Nina put her ten dollars in a bank account instead. Her money is still there and safe, because it never sat out on a shelf at home.
Many banks have special savings accounts just for kids. You can put birthday money or allowance in, watch it stay safe, and watch it grow bit by bit each year.
A bank keeps your money safe and can even pay you a little extra for saving there, called interest.
Watch it
Where it sits
Where this leads
Jobs that lean on this skill. Follow one to see everything it is built on.
8 questions wait behind this lesson, each with its answer explained. Every answer feeds the sky: stars light as they are learned, and dim when it is time to come back.