While the String.Format() method is certainly useful in formatting data as strings, it may often be a bit overkill, especially when dealing with a single object as seen below :
String.Format("{0:C}", money); // yields "$42.00"
An easier approach might be to simply use the ToString() method available on all objects within C#. It supports all of the same standard and custom formatting strings, but doesn't require the necessary parameter mapping as there will only be a single argument :
money.ToString("C"); // yields "$42.00"
While this approach may be simpler in some scenarios, the ToString() approach is limited with regards to adding left or right padding like you might do within the String.Format() method :
String.Format("{0,10:C}", money); // yields " $42.00"
In order to accomplish this same behavior with the ToString() method, you would need to use another method like PadLeft() or PadRight() respectively :
money.ToString("C").PadLeft(10); // yields " $42.00"