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Ramsey Minute: Picking Up The Pieces

1 Minute Read

A 28-year-old mother in Xi’an Shaanxi province of West China is literally trying to pick up the pieces.
Liu Fan’s 4-year-old son was playing by himself in the bedroom of their home when he came upon a box underneath the bed. Inside the box was a chunk of savings (a little more than $1,800) that Fan and her husband were intending to use for a deposit on a new apartment.
Fan was horrified to discover that the boy had ripped the money to shreds while she was in another room. She said they have many cheap books lying around that the boy rips apart, so when she heard the sound of tearing paper, she didn’t think anything of it.
The good news is that a local bank was willing to match the notes and exchange them for new ones. The bad news is that a lot of money is obliterated every day in the form of credit card interest, bounced check fees and sloppy spending by people with no budget.
And, unlike Fan, you won’t find a friendly bank to reimburse that money to you.
Source: Parent Dish