Brite Star Learn About Money "Magic Money"

Magic Money A Brite Star Learn About Money Copyright © 2023 by The Brite Star Foundation, Inc., a 501 (c)3 All rights reserved.

Published by The Brite Star Foundation, Inc. 11411 Southern Highlands Parkway Suite 338 Las Vegas, Nevada 89141 Vincent W. Goett, Publisher

ISBN Paperback

979-8-89750-290-5

Digital

979-8-89750-291-2

No part of this publication may be reproduced in whole or in part, or stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without written permission of the publisher.

Saturday morning Alex wascounting the money he had earned from doing a magic show for friends the day before. He had earned almost $10doing the show!

“What are you going to do with all that money?” his sister, Liz asked.

“I don’t know,” Alexanswered.

“Remember that Grandma and Grandpa sent you a check for your birthday, too,” Mom said.

“You are rich, Alex!” Liz cried.

Illustration Alex at breakfast table, wearing magician’s hat. Parents and sister in the room. He has a pile of bills and coins on the table.

“You know, Alex,” Dad said, “you have more money than you need right now. Youshould put some in the bank.”

“What if I put it in a bank and robbers steal it?” Alex asked.

“Alex, your money will be safe in the bank,” Dad said.

“Why don’t wevisit the bank and you can learn all about it. Then you can decide if you want to put your money in the bank.”

“Great idea,” Dad,” said Alex.

“I would like to go with you,” Liz said. “I can write an article about the bank for the paper. Then all the kids can learn about it.” As a reporter for the Brite Star Gazette, Liz wasalways looking for a good story.

“Good. I know the bank manager so I’ll give her a call and arrange a time,” Dad said.

“Dad, weknow Banker Nat, too. She’s Landon’s momand she cameto Career Day at school,” Alex said.

When they arrived at the bank a woman in a nice suit greeted them. “Hi Alex. I remember you from Career Day and you’re Landon’s friend, aren’t you?” Banker Nat said. “And, you mustbe Liz, the Brite Star Gazette reporter. Welcome to Brite Star Bank.”

Alex held out his hand to shake hands with Banker Nat. Dad had taught him that a gentleman always shook hands.

“I can see why you are a successful businessman,” Banker Nat said as she shook his hand.

“This is the teller’s window where customers come to deposit money,” Banker Nat said. “The bank keeps track of how much money is in their accounts. Customers can take money out whenever they need it.”

Liz was writing everything in her notebook. “Why do people put money in the bank?” she asked. “I keep mymoneyin mypiggy bank at home.”

“You can save money in the bank until you have enough to buy something,” Teller Julie said.“ While it’s in the bank it earns interest.”

“I want to buy a new bike,” Alex said. “But, what’s interest?”

“Interest is when the bank pays you some money, based on how muchmoney is in your account,” Teller Julie said.

“This is the Loan Manager,” said Banker Nat. “His name is Banker Will. He meets with people who need to borrow money.”

“We loan people money to buy things,” Banker Will said. “They makepayments to pay the money back. Without our help many people couldn’t buy houses or cars.”

“I didn’t know banks help people buy houses,” Alex said.

“We also loan money to businesses,” Banker Will said.

“We help them buy products that they can sell so they cangrowtheir businesses.”

“Here’s an example, Alex,” Dad said. “If you wanted to add new magic tricks to your actthe bank could loan you money to buy whatyou need,” Dad said. “Then you would pay back the money from the money you earn.”

“Banks do a lot to help the community. Many people don’t realize that,” Banker Nat said. “We help our community fund special projects and charities. Our bank is an important part of Brite Star.”

Liz looked up from her notebook. “Don’t worry, Banker Nat, once everyone reads mystory in the Brite Star Gazette they will all know about your bank.”

“So what do you think, Alex?” Dad asked, “would you like to put your money in Brite Star Bank?”

“I like the idea of earning money and I can see that the bank helps a lot of people,” said Alex. “But, I’m still kind of worried about robbers. They always rob banks.”

“You don’t need to worry about that,” said Banker Nat. “That happens in the movies. Your money is safer here than in your piggy bank at home.”

“OK,” said Alex, “I’d like to deposit $10 from my magic show and my birthday check from Grandmaand Grandpa.”

Banker Nat smiled and gave Alex’s dad some papers to sign. Then she gave Alex a bankbook and showed him how to keep track of the money in his account. “Youare a smart young man, Alex,” she said. “We are happy to have you as our customer.”

Alex shook her hand again and started thinking about his next magic show and saving money for his new bike.

“I have a great idea, Dad,” Alex said. “Since I have so much money, how about if I buy you and Liz an ice cream on the way home?”

“Tell you what, Alex,” Dad said, “I’ll buy today to celebrate your new bank account. Yousave your money!”

Think About It 1. What kind of show did Alex do for his friends?

2. How muchmoney did Alex earn?

3. What is interest?

4. How do bank loans help people?

5. How do banks help businesses?

Let’s Work Together!

Ask your parents if you should open a savings account or if you should keep your money in a piggy bank at home.

I will . . .

• Learn more about how banks help people.

• Find out more about interest on savings.

• Ask myparents about the bank they use.

• Save some of mymoney, either at home or in a bank.

Ask your parents to help you come up with a plan to save some of your money, donate some of your money and have some money to spend.