Storyyogi’s Money Matters # 1
Hi friends! Like reading, I love traveling too and for that I need money as with my pace and grace I would never reach my destination on time. Why am I saying this? Because elephants are known to walk slowly and gracefully swaying side by side. To get a bit of guidance I visited my friend, Mr. Nosy Mice, he is very nimble and suggested that I can travel and fulfil all my interests with the help of the little money saved. He taught me some basic things about money. And lo! I am an expert now. Then I thought of sharing these with you, my little friends. So here we go! Read on and know all about money.
Storyyogi
What is a bank?
Mr. Nosy Mice
Bank is a place where your money is kept safely. Here you can keep as well as remove your saved money.
E.g. I have earned some pocket money given by my parents which I am planning to keep it safely. I can do so by visiting a bank. A bank will help me keep my money safe in an Account.
Storyyogi
What is an Account?
Mr. Nosy Mice
It is a unique identity number which is given to you by the bank so that your money can be safe here. Like for e.g. It’s just like your roll no, STD and division. You and only you will have that number and nobody else can have the same number. Hence, the account keeps your money safe.
E.g. If I want to keep my pocket money safe I will be asked to open an account with the bank. And only I can use the account.
Storyyogi
What is a Bank Branch?
Mr. Nosy Mice
Branch means a place where you can visit to perform banking activities like putting money in your account or removing it.
E.g. I stay in The Max Street so I will go to the bank and branch of The Max Street.
Storyyogi
Who is a Branch Manager?
Mr. Nosy Mice
Branch Manager is a person who is the in charge of the bank branch. Like for e.g. your school principal, who is the head of your school or your parents who are taking care of you and your family.
Storyyogi
What is a Savings Account?
Mr. Nosy Mice
This is a type of Account which will help you to keep your pocket money safe in the bank. SAVE – means to keep safe. I can do so by putting all the money that my parents give in this account. E.g. In olden time’s people used to keep their money safe in places which not everybody could easily reach. Instead today you can open an account in a bank to keep your money safe
Storyyogi
Thanks Mr.Nosy. I will now be rushing to open an account with my nearest bank. Got some money in my piggy bank will deposit all that in the account. Will see you soon to learn more on this. Bye for now.
Mr. Nosy Mice
Sure buddy. Anytime. See you soon!
Very good effort Moshumi! I have shared it with my son and daughter so that my grand children could take advantage of this site.
Superb Sir! Thanks. There will be more to come.
Hi Moushmi, very nicely and simply explained for kids.. Eesha read it and was quite curious…will look out for more such stuff..
Very good knowledge for kids on how to save and grow their pocket money.