• beibiddybibo@lemmy.world
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    1 year ago

    Balancing a checkbook/bank account and understanding basic financial principles like compound interest.

    • LemmyFeed@lemmy.world
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      1 year ago

      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

    • pinwurm@lemmy.world
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      1 year ago

      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?”