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As a kid I didn't know that one dollar equals 100 cents (like in any other currency) So when I was 7 or 8 and I was reading new issue of my favorite "Donald Duck" comic magazine, there was a story od Donald hired by uncle Scrooge to take his place in worrying so he would have more time to count his money. The rate was thirty cents per hour. When after four hours they realized that Scrooge had forgotten what was Donald supposed to worry about and he started panicking that one dollar and twenty cents was wasted for nothing. Forgetting that this 1,20$ was for four hours, I assumed that since dollar and twenty cents was like thirty cents, then one dollar was ten cents! It even seemed logical to me, since ten cents was such a nice round number, and this money amount was so often referred to in movies, so it must have been equivalent of one dollar! It was way later when I read it again and realized about these four hours, and that 0,30$*4=1,20$, and that if one dollar was really ten cents, then thirty cents would just make three dollars, instead of 1,20!
when I was a kid,I used to believe that the word "million" means; a big corn bag filled with coins,
I used to believe that as long as my mom had checks she had endless amounts of money.
I used to think when my mom said "my check bounced" that an actual check was jumping off something, making a bouncing sound.
I guess many kids believed that one: I believed that if I buried coins in the earth, they would "breed" and multiply. At least, that's what a teenage boy told us. He told us to bury our money in his garden. Needless to say, when we checked back, all the coins were gone :-(
When I was little around the age of 5, my sister took a trip to England, and brought back coins. One day I saw the coins laying on a desk in her room and I took them. That night my sister came in my room and saw her coins on my desk, she came up to me and was like "Those coins!! K.k! Do you know what they are? They will come and kill you!" This of course scared the hell out of me. I asked who was comming and she was like, "the pirates! They are going to come and get you! You stole their gold!" I started crying asking her how to stop them from killing me. She then told me that I had to make a boat, and put the coins in it then go outside and put the boat in the pool. So I went and made a paper boat and put the boat in the pool with the coins in it. Then the next day I went down to the pool, the boat was still floating I grabbed the boat, and in it was a rolled up letter I read it, and it said "next time Ill get you!" So ever since then I believed that if I took coins from ppl then Pirates would come and kill you. I believed that until 2nd grade when I told some kid that because he took a coin off the floor.
When I was little, I always thought the Nasdaq was a bridge. To me, it sounded like the Verrizano or the Washington (I live near New York). I always heard on the radio "The Nasdaq is up/down", so natural I assumed it was a drawbridge.
I used to believe that when you paid for something at a store with cash, the clerk would sometimes give you back a smaller amount of money just to be nice. It took a while to figure out the concept of change.
I used to call the ATM a "magic money machine" because I thought it just gave you as much money as you wanted at any time. Fortunately, I learned the dissapointing truth before I opened my first bank account.
I remember when I didn't understand how bank interest worked - when my mum or dad told me that money grew in banks, I always pictured people struggling out of the building with huge 2p coins in their arms!
I used to believe that if you had two 5 dollar bills it meant that you had $55. Boy was I in for a wake up check.
When I was little my older brother said that pennys where made out of gold and that they were worth a lot of money...So Everytime I got a quarter I would give it to him so he would exchange me with a penny. LATER (a lot of years later) I found out that pennys weren't gold and that I was getting ripped-off.!!!!!!!!!!!!!!!!!!!
When I was younger I used to believe that like if somthing was $12 then you would just give them a $1 and a $2 bill. Or if somthing was $91 then i would just give them a $9 bill and a $1 bill. Luckily I still don't believe that..
I remember thinking that since George Washinton was the first president, that's why he's on the one dollar bill. Lincoln is on the five, then he must have been the fifth president. Hamilton is on the ten, he must have been the tenth, etc.
I used to think that the more expensive a person's car was, the poorer they must have been because they spent all their money on the car.
Back when vending machines sold a cup of soda for a penny, I thought that if you inserted a copper penny, it would always give you Coca-Cola. If you inserted a war-time zinc penny, it always gave you a grape soda. Whenever I wanted a grape soda, I would ask my older sister to put in an "old black penny".
I used to think that when you got a credit card, the company just took all your money and gave you a card of that value. When you bought something with it, it would be reprogrammed to reduce the amount of money.
I told a kid once that when you grow up you have to pay all sorts of taxes, like taxes on youre house and that sort of stuff. Then I told him with a completely straight face that there was such thing as a potato tax, for every potato you ate you would have to pay 7 cents. And he actually believed me....
I used to think that you can get as much money as you like at a bank for free. I could not understand why shops could not give things away for free, but required one to visit a bank first.
Once I asked my mum what she would do if she won the lottery... she said she would faint. I didn't want her to faint and every week i wished and hoped like crazy we wouldn't win.