Bullshit freedom or freedom bullshit?
Imagine this scene: — You walk into a bank with your 7 year old daughter (or son) and ask to see an account manager as you would like to open an account in her name, so she can start saving money and use her own debit card when she chooses to buy something with her own money. Do you know what will happen?
Few weeks ago we decided with my wife that a piggy bank is not an appropriate way for our 7 year old daughter to learn how to manage her finances for reasons I suspect will be obvious to the readers of this blog. After all, I haven’t seen an adult yet to carry a piggy bank instead of a wallet when going to the store. We wanted her to not only learn how to save or spend and be in control of her money, but to also make at least one part of our adult lives closer to her — thus it seemed obvious to us that she should get a bank account and a card!
Ignoring the funny looks when announcing to the reception at our local bank branch that we’re there to see an account manager we previously set an appointment with for opening my daughter’s account, I was happy to learn that our bank offers savings accounts to young children — with a debit card on their own name! Wow, what a great country we live in, I thought. Here, we trust our kids and we empower them to be equal to adults for something as important as money. If only the truth was not so different!
Anyone under 12 years old — what’s that about 12 years old being such an important milestone that so many
