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That's a pretty biased sample. Most people with financial literacy aren't withdrawing cash at a 7/11. They're doing it at their own bank branch to avoid paying
by tharne 7y ago
That's a pretty biased sample. Most people with financial literacy aren't withdrawing cash at a 7/11. They're doing it at their own bank branch to avoid paying any fees.
The reasoning here is circular. At the ATM in 7/11 that would only be used by people who aren't financially literate enough to absorb excessive fees, we find evidence of poor finances and poor financial literacy.
- sodafountan 7y agoUhm, what? Or maybe they're just doing it out of convenience? Have you never payed a fee for convenience? Have you tipped in a restaurant? Have you taken the highway instead of the back roads and payed a toll? Have you ever had food delivered to you? Congrats you're doing the same thing people who pull money out of an ATM are doing you financially illiterate rube.
- dwaltrip 7y agoFYI, I liked the points you made. However, personal insults ruin discussion and lower the quality of the forum, so I downvoted this comment. I can certainly relate to getting fired up at foolish comments on the internet! It's tough sometimes... heh. Cheers, I hope you have a good day.
- dwaltrip 7y agoCharles Schwab is one of many banks that pays for all ATM fees. Additionally, a financially literate person may value the time it would take find another ATM more than a $2 ATM fee.