Banker’s Math

It’s nice to see that a dollar is worth 120¢! This breakdown is sourced from the American Banker’s Association Education Foundation, although they would probably blame the graphic on Gannett News Service.

Even if it were corrected to charity at 10¢, who is this aimed at? Children? What investment opportunities do they have? Banks won’t even give kids a checking account until they turn 18 -at which point they suddenly offer them tons of credit cards. If this is aimed at adults, I can safely say that anyone who can survive on only 30% of their income already knows more about money than I ever will. -via Bad Newspaper

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I had no idea that what used to be simple in my day has become complicated.

How about this for another ID: Every state's DMV offers photo ID cards for people who don't drive, just like a driver license except it doesn't let you drive. I don't know if, like a driver license, you have to meet a minimum age to get one.

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I opened one when I was ten, but that in the 1960s. Tried to open one for my 15-year-old last year, and no way. They let her open a savings account, but only if my name was also on it. And she had to have two forms of ID, which isn't easy for a 15-year-old. I took in her birth certificate and citizenship document, and they did know what to do, because they had to fill out a computer form, and there was no field for a citizenship document. If the bank officer hadn't been a distant relative, we'd have had to wait until she got a updated passport or driver's license. For a savings account.

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I opened a checking account when I started getting paychecks at 16.

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Even I knew that was wrong.

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