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What To Do With Mangled Money

If you tear a hole in your jeans, you can ask your parent to sew it up. But what do you do if you have money that is torn or part of the bill is missing? If it's still easy to tell how much the bill is worth and there is definitely more than half of it remaining, you can bring it to the credit union. The people here will exchange it for a fresh bill.
But what if the money you have is so mangled it's not clear how much it is worth?

Badly damaged money must be sent to the U.S. Bureau of Engraving and Printing. Ask an adult to help you send the damaged bills by "Registered Mail, Return Receipt Requested" to Bureau of Engraving and Printing, MCD/OFM, BEPA, Room 344A, P.O. Box 37048, Washington, DC 20013 to have it replaced. Be sure to include a letter explaining how the money got that way and its estimated value. To get information about your shipment, you can call the Bureau's Mutilated Currency Division toll-free at (866) 575-2361.

Three Reasons To Stash Your Cash

When you get money from an allowance or as a gift, it's usually much easier to spend it than it is to save it. There are lots of things that you want to have. But saving some of it is a better idea. Here are three reasons why:

1. If you save money, it's there when you really need it later. You can buy things you don't have enough money for right now.
2. Saving gives you quality choices. Instead of spending your money on cheap toys that break right away, you can save in your share account until you have enough to buy one that is well-made and will last a long time.
3. Saving pays. Money in your share account earns interest. Your money makes money, although right now, interest rates are low. But even a little interest earned is better than nothing at all.