Ask Lemmy
A Fediverse community for open-ended, thought provoking questions
Please don't post about US Politics. If you need to do this, try !politicaldiscussion@lemmy.world
Rules: (interactive)
1) Be nice and; have fun
Doxxing, trolling, sealioning, racism, and toxicity are not welcomed in AskLemmy. Remember what your mother said: if you can't say something nice, don't say anything at all. In addition, the site-wide Lemmy.world terms of service also apply here. Please familiarize yourself with them
2) All posts must end with a '?'
This is sort of like Jeopardy. Please phrase all post titles in the form of a proper question ending with ?
3) No spam
Please do not flood the community with nonsense. Actual suspected spammers will be banned on site. No astroturfing.
4) NSFW is okay, within reason
Just remember to tag posts with either a content warning or a [NSFW] tag. Overtly sexual posts are not allowed, please direct them to either !asklemmyafterdark@lemmy.world or !asklemmynsfw@lemmynsfw.com.
NSFW comments should be restricted to posts tagged [NSFW].
5) This is not a support community.
It is not a place for 'how do I?', type questions.
If you have any questions regarding the site itself or would like to report a community, please direct them to Lemmy.world Support or email info@lemmy.world. For other questions check our partnered communities list, or use the search function.
Reminder: The terms of service apply here too.
Partnered Communities:
Logo design credit goes to: tubbadu
view the rest of the comments
Balancing a checkbook/bank account and understanding basic financial principles like compound interest.
Balance a checkbook?! Who even uses checks anymore... I bought a box once and have used maybe 3 over the last 10 years or so and definitely haven't used any in the last few years.
I balance my checking account by logging into the mobile app and looking at the balance lol
I think some gen x and boomers still do their checkbooks to see if it agrees with their online statement.
C'mon boomers and gen xers, it's the 90s! Get with the times and use quicken!
~~I think 'balancing your checkbook' nowadays means making financially sound decisions, not literally sitting there with an actual checkbook. I might be wrong though, I'm not a native English speaker.~~
Nevermind, I was wrong.
Accountant here.
Nobody needs to balance a checkbook. We have live access to our banking 24/7 with apps. And who even uses personal checks anymore? Maybe just for rent - if you have an old landlord. Even then, it’s one check a month.
But yes - having basic financial literacy is really important and should be part of any High School curriculum. It’s a little discouraging when we hire folks, tell them a 401k is part of their benefits and hear “what’s that mean?”