Remember last week when I talked about my son and his big plan on borrowing money from the bank?
For some reason I have now become popular as a source of knowledge on banking. I mean sure, I was able to explain to my four year old the basic concept on borrowing money from the bank and returning it with interest once you have made profit. For any more detailed information on banks I would suggest using websites like Know Your Bank, who can help you compare your local banks with all kinds of data and even reviews. In fact they have a page dedicated to glossary of financial terms like common stock ( not cows and sheep, the other kind ) and total deposits ( which is what my husband will be doing for the rest of his life according to Little J).
My husband will agree neither Little J nor I are subject experts when it comes to handling money.
Further more a while ago we were building a whole town with Legos, as we do often. Little J was in charge of the bank and he build a long road, some lights, a little ATM box and a gate. When I asked him where the rest of the bank is he looked at me baffled.
Little J: What do you mean the rest of the bank?
Me: You know, the building.
Little J: What building?
Me: Building, with doors and windows and offices inside.
Little J: Banks are in buildings?
Turns out I have never taken my son into a bank before. He thought driving through and picking up money from the ATM is banking…
As a special treat I took him with me the other day to make some deposits to a checking account. He loved it. The ladies told him he was handsome and gave him a pen. No ATM does that right?