Banks & Saving

Life SkillsMoney & FinanceAges 7–9

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

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Explain a simple savings account model without treating it as a real offer.

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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

“Could your child explain what a bank does and why people put their money there instead of keeping it all at home?”