my 10-y-o son asked me how checks work
Lots of "how banking works" lessons lately.
His sister and he both got some checks for gifts recently (thank-you notes written or about-to-be), so I had them endorse the checks, and I took them to the bank.
So last night, during the bedtime routine, he asked. I tried to explain it--it's a note from me to my bank that says, "pay Grant this much money out of my account" (w/ an explanation about how the bank keeps track of my account but doesn't actually use the same dollar bills)
It made me remember when his sister, at the age of 4, said, "I have a $100 bill! It's at the bank. I could go get it and show it to you someday." She thought there was a box there w/ all her cash--the same exact bills. I waited a couple of years before I explained to her that the actual bill had left the building; her "account" was simply numbers on a piece of paper.
How did you teach your kids--or how did you learn--about checks, banks, etc?
What's the best misconception you heard a kid say?