Labour cheque

Okay, so have you ever done some work or chores around the house and your parents gave you a reward for it? Maybe they gave you some money or a treat, like a cookie. Well, a labour cheque is kind of like that, but for grown-ups who work at a job.

When people work at a job, their boss pays them money for their time and effort. But sometimes, instead of giving money right away, the boss might give the worker a labour cheque instead. This is like an IOU or promise to pay the worker later on.

Now, imagine you have a piggy bank at home. When you get some money or a treat, you can put it in your piggy bank for safekeeping. It's kind of like a special box where you keep your savings. Well, grown-ups have something similar called a bank account. When they get paid, they can deposit their money into their bank account. This keeps their money safe and makes it easy to use later on.

So, when a worker gets a labour cheque, they can take it to the bank and "deposit" it into their account. Then, when the cheque "clears" (which means the boss has enough money to pay the worker), the bank gives the worker the money that was promised on the cheque. It's like a grown-up version of getting a reward for doing a good job!

So, in summary, a labour cheque is a special piece of paper that promises to pay a worker money for their work. The worker takes the cheque to the bank where it becomes like an IOU until the money is available. When the cheque clears, the worker gets their money and can save it or use it as they need.