Preston Waters, an 11-year-old boy living with his parents and two older brothers, faces mistreatment from them and financial constraints. His father, Fred, emphasizes the importance of saving money. Preston receives a blank check from his grandmother as a gift, which his father fills out for eleven dollars. Preston tests the idea of becoming a millionaire on his computer and realizes it will take centuries. Meanwhile, an escaped convict named Carl seeks to launder his stolen million dollars at a bank.