What banks do with money Loans, interest rates and investments

It's never too early for kids to start learning about personal finance, and this straightforward offering does an admirable job of introducing banks and how they function. Using the approach that banks are businesses that need to make money, the consumer-oriented text explains how money is a commodity, just like everything else. Accessible text explains financial costs associated with using a bank's money, and that banks will pay to have access to people's funds. Numerous explanations follow, covering such topics as education and home loans, savings accounts, and mutual funds. Further explanations of interest rates, late fees, the Federal Reserve, and stocks and bonds are supported by a glossary, statistics, sidebars, charts, cartoons, and colorful graphics. Part of Scholastic's A True Book: Money! series (4 titles), this provides solid information and realistic advice.

Gr 3--5--This series offers young readers an accessible yet comprehensive exploration of money and the economy. Each title opens with a true-false setup, prompting engagement. The series covers crucial concepts such as budgeting, types of payment, inflation, taxes, credit, and the economy. Terms children are likely to have heard from adults are explained. The author asks readers to critically evaluate newspaper cartoons, answer questions, and participate in activities such as making a business budget and comparing grocery store prices. Each title includes resources, a glossary, and an index. VERDICT Children will leave these titles with a greater understanding of family budgets and financial literacy. Highly recommended.