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Where money comes from
Unlike fruit, money does not grow on trees. As we have mentioned on previous pages, all U.K. bank notes are printed at the Bank of England, and all coins are made at the British Royal Mint. From these two sources, the money is then distributed through the banks and building societies that are commonly found on the high street.
In order for you to have money in your pocket, you will need to have some form of income. Income is a word that we use to describe any money that we have given to us.
Generally people will receive money in exchange for work. This could be in the form of pocket money for doing the household chores, or wages from a paper round, part time, or full time job.
People who are unable to work for whatever reason can also receive an income in the form of benefits, which are paid for by the government. The government pays benefits to people who have little or no income, in order for them to keep a basic standard of living.
Money is normally paid to us on a regular basis. This could be daily, weekly, monthly, or yearly. This money will then need to last us until we get paid again. This is why it is important to make sure the money we have will last us until we next get paid.
We may also receive money on an irregular basis. It may be that we receive money in the form of a gift, such as for a birthday present, or in the form of a prize, such as winning the National Lottery (if you’re lucky!!)
The amount of money that you receive will generally depend on the job that you do, or your own personal circumstances. Generally speaking, the highest paid jobs will require that you have more specialised skills or responsibilities. A doctor or lawyer, who has spent many years at University studying, will probably get paid a higher salary than a shop assistant with no formal qualifications.
Disclaimer, Target Audience, Jurisdiction Last updated & checked: 30/03/2006