What did you think you knew about money as a kid? Most of us were told at one time or another that money didn’t grow on trees, but I am not sure that I ever thought it did — I just thought that my parents had an endless supply of it, and why weren’t they buying me everything I wanted? I had no idea about the relationship between how much Dad brought in and how much it cost to support our lifestyle, and still didn’t even get it until I graduated college with a crappy low-paying job and tons of credit and student loan debt. But in thinking back to the biggest misconception I had about money as a kid, I came up with this:
I used to think that when I deposited money in the bank, they put it in a drawer that had my name on it.
I thought that everyone who had an account at the bank had their own drawer, and all their money was stored inside it. When you went to get money out, they opened your drawer and took out whatever you needed. Guess I never thought about how that much money or drawers would fit inside that little tiny bank, but it made sense at the time. Oh, how little did I know! But this got me thinking about what other people might have thought about money and/or banking as kids, and I wanted to throw the question out to you guys, the readers. What money fallacies did you think were true when you were a child? Let me know in the comments!