Revising Activities, Pg. 401

The banking industry responded to inflation by introducing a new technology, the automated teller machine, also known as the ATM.The ATM makes money readily available to the average person by giving them cash to buy goods, regardless if they can afford them. Automated teller machines have had a number of negative consequences for the average individual. Machine-vended money means more impulse buying and since people know they can get cash at any time, they will most likely use their luch hours for shopping instead of going to the bank. People no longer need their checkbooks to withdraw money, so they will often have trouble trying to keep track of their account records and develop a casual attitude toward financial matters. It is not surprising that children end up not appreciating the value of money. The ATM has many advantages and disadvantages that should be considered when being used by the public.