If I bring a $1.00 bill to the bank to put in my account one day and come in on a different day to take money out will I get my same $1.00 bill back?
No you will not get the same bill back. When you give your money to the teller she gives you a receipt and makes an entry to our system that shows how much money you brought in. Then she puts the money in her drawer where she may give it out to someone else who came in to get money. We don't have the actual bills that you bring in but we have a record of how much money you have deposited so we will always have money available if you need to come in and take some back out.
What is Franklin Junior all about?
This web site and the programs associated with it are Bank of Franklin County’s way of making it exciting and entertaining to learn about the importance of managing money. The ability to manage money leads to a better more satisfying life.
How can I get involved as a parent?
Introduce your children to the importance of earning money. Give them an allowance based on chores, homework, or achievements to help them understand that money isn't free for the taking. Help them understand the importance of managing money wisely, employ the 80/10/10 rule (10% of earnings to be saved, 10% to be given to charity, church, or others in need, and 80% to spend.) Let them choose something worth saving for and help them put back money each week until they can afford it. We have included links in this site to help you find answers to your questions as well.
I'm a kid. Why do I need to know about managing money?
The earlier you learn about and begin practicing good money management skills the brighter your future will be. Learning to manage your money whether you have a large or small amount will make your life easier.
Why is it a good idea to save money while I am young?
Money saved in the bank or invested grows through interest earned. The earlier you start saving the longer you will have to earn the extra interest. Also, saving money a little bit at a time is a good habit that will stay with you throughout your life allowing you to have money for important things like a car, college, or a home.
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