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When I was in grade school we were learning about the Presidents. Well I knew the first one was George Washington (because he was on the $1 dollar bill)well I ALWAYS thought Abraham Lincoln was the second President(Because he's on the $5 dollar bill)so I also thought that the third president was Hamilton and so on and so forth... I had misunderstood my teacher. She must have said that Lincoln might have been the sencond most important president. I believed this until I was in late teens...
When I was eleven, I had a theory that there was exactly so much money in the world that you could pay for every single thing that exists on Earth. But there was a problem: while both the money and the things themselves were considered valuable, only the things had actual value - the value of money was only symbolic. So our economic system assumed that there was twice as much wealth in the world than there actually was. This made the system inherently unstable and created a need to devalue money and property. That was my explanation for inflation.
When I was quite young, I was sure the
Dow Jones Av. was actually the Dodge owned.
I did not know the difference until I saw
it in print.
A life of innocent security came to an abrupt end one day when i asked my mother to buy me a toy. She replied that she didn't have the money for it, to which i replied that she should just go to the bank. She then explained that the bank wasn't just a place that gave you endless amounts of money whenever you wanted it. It was your money in the first place, and could run out just like that.
when I first heard about insurance, I thought it was a small group of old men in black (clothes, hat, shoes, sunglasses...) that you gave your money to, and when the house burned down - or something like that - they would come and pay for the damage
My little cousin Robbie who is about 6 thinks that all American money is the same---he counts a penny as one, a 20 dollar bill as one, and a 5 dollar bill as one dollar, it doesn't matter what type of money it is. All bills and coins---to him---are counted as one dollar!
For example one day he had a five dollar bill and a one dollar bill in his pocket. He took the money out and counted it aloud. "I have two dollars". He actually had 6 dollars!
When I was young (about 7) I would hear my parents talk about Liability Insurance. The whole time they discussed this I thought it was a great thing....buy this insurance and if you had a wreck you could lie about what really happened in the accident. Not until I was older and paying for my own insurance did I realize the truth. My mom thinks that story is so funny.
My daughter, when she was small, used to think that when you took money to put in the bank, that the bank had seperate piles of everyone's money. So she had her seperate little pile in the bank and when she wanted to take some out, they would have to go to her little pile to get it.
I used to believe that adults had as much money as they wanted, a never ending supply. I used to think my mother was so stingy when she wouldn't give me a few dollars to buy lollies from the shop!
My sister was about six or seven when my mother took up both out to Seaport Village in San Diego. It has some lovely wishing fountains. My sister and I both wanted to throw a penny in the fountain but my mother only had one. My sister every so quietly opened my mother's purse and pulled out her check book.
"That's okay mom," she said, "You can just write a check."
I used to think that the bills you deposited in the bank were the same bills you got back later -- until I was about 15 years old!
Once when I was very young, I overheard someone talking about "borrowing $10." It made no sense to me. If you borrow something, then you have to return it, but what was the point of borrowing a ten dollar bill unless you needed to spend it. And once you spent it, how could you give it back. It never occurred to me that you could pay back a debt with a different bill.
When I was kid I used to believe that I had to earn enough money to have one of everything that existed.
Some older kids showed us how to file pennies (USA) down to the size of dimes. At this time a bottle of coke from a machine was ten cents. We’d pound nails into a board, around a dime, remove the dime and then use the nails as a guide. We’d keep filing until the penny fit between the nails and under the nail head. As you can imagine, it would take much of an afternoon to come up with five or six dimes. We did this in a shed in back of one of our houses. Knowing this was a federal offense, both in counterfeiting and in defacing a US coin (the penny), we actually stationed lookouts, one at each corner of the front yard, fully expecting a big black car full of Federal Treasury agents to come barreling down the dirt road at any moment.
When my sister and I were little we used to go and stay with our aunty who always gave us nice things to eat so when my sister heard my aunty say that she was going to buy some premuim bonds, she thought she heard 'creamium buns' and was really disappointed when they didn't turn up on the tea table. For years she was convinced that that was what she had said. Mind you she's forty and still claims that she goes to China every night to visit her friends so what can you say.
I have just recently been approached by an investment broker to invest in stocks & shares via HSBC
I have only just found out that HSBC does not stand for High Street Banking Corporation ----------- PS;- i am 68yrs old
I am from America, so when I first heard that people used francs I immediantly wanted to know how you could pay for a hotdog with a hotdog.
i used to think if you had more than £100 the police would want to know why and would start investgating you
When i was younger i used to believe that monopoly money was real and used to try and spend it in shops and at the ice cream van much to my mothers embarressment !!
When I was 6 I truly thought that if something was £50 and you gave them £30 you got the goods AND £20 change