What Banks Do with Money: Loans, Interest Rates, Investments... and Much More!

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Scholastic Book Service

Just the Series: True Book: Money

Annotation: A series to build strong financial habits early on in life! Understanding how banks work - as well as the basics of loan... more

Reviews: 1

Catalog Number: #6790269

Format: Paperback

Common Core/STEAM: STEAM

Publisher: Scholastic Book Service

Edition Date: 2023 Release Date: 09/05/23

ISBN: 1-339-00497-6

ISBN 13: 978-1-339-00497-6

Dewey: 332

Language: English

Reviews:

ALA Booklist (Thu Nov 30 00:00:00 CST 2023)

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.

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ALA Booklist (Thu Nov 30 00:00:00 CST 2023)

Reading Level: 3.0

Interest Level: 3-6

Lexile: 920L

A series to build strong financial habits early on in life!

Understanding how banks work - as well as the basics of loans and investments - are just two critical financial literacy skills that all kids should have. Did you know that banks use customers' deposits to make loans to other customers? Or that the Federal Reserve is the central bank of the United States? Learn all this and more in What Banks Do with Money - a book that introduces kids to banking.

ABOUT THE SERIES:

How can I make money? What is inflation? What is the difference between a debit card and a credit card? Economics - and more specifically, money - play such a large role in our lives. Yet there are many mysteries and misconceptions surrounding the basic concepts of finance and smart money management. This set of True Books offers students the know-how they'll need to start on the road to financial literacy-a crucial skill for today's world. Interesting information is presented in a fun, friendly way - and in the simplest terms possible - which will enable students to build strong financial habits early on in life.

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