Changing the text on a label

Use the config method to change the value of the label:

top = Tk()

l = Label(top)
l.pack()

l.config(text = "Hello World", width = "50")

You can also define a textvariable when creating the Label, and change the textvariable to update the text in the label. Here's an example:

labelText = StringVar()
depositLabel = Label(self, textvariable=labelText)
depositLabel.grid()

def updateDepositLabel(txt) # you may have to use *args in some cases
    labelText.set(txt)

There's no need to update the text in depositLabel manually. Tk does that for you.

self.labelText = 'change the value'

The above sentence makes labelText change the value, but not change depositLabel's text.

To change depositLabel's text, use one of following setences:

self.depositLabel['text'] = 'change the value'

OR

self.depositLabel.config(text='change the value')