The First National Bank of Dad

The First National Bank of Dad
Author :
Publisher : Simon and Schuster
Total Pages : 141
Release :
ISBN-10 : 9780743216876
ISBN-13 : 0743216873
Rating : 4/5 (873 Downloads)

Book Synopsis The First National Bank of Dad by : David Owen

Download or read book The First National Bank of Dad written by David Owen and published by Simon and Schuster. This book was released on 2007-04-24 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most parents do more harm than good when they try to teach their children about money. They make saving seem like a punishment, and force their children to view reckless spending as their only rational choice. To most kids, a savings account is just a black hole that swallows birthday checks. David Owen, a New Yorker staff writer and the father of two children, has devised a revolutionary new way to teach kids about money. In The First National Bank of Dad, he explains how he helped his own son and daughter become eager savers and rational spenders. He started by setting up a bank of his own at home and offering his young children an attractively high rate of return on any amount they chose to save. "If you hang on to some of your wealth instead of spending it immediately," he told them, "in a little while, you'll be able to double or even triple your allowance." A few years later, he started his own stock market and money-market fund for them. Most children already have a pretty good idea of how money works, Owen believes; that's why they are seldom interested in punitive savings schemes mandated by their parents. The first step in making children financially responsible, he writes, is to take advantage of human nature rather than ignoring it or futilely trying to change it. "My children are often quite irresponsible with my money, and why shouldn't they be?" he writes. "But they are extremely careful with their own." The First National Bank of Dad also explains how to give children real experience with all kinds of investments, how to foster their charitable instincts, how to make them more helpful around the house, how to set their allowances, and how to help them acquire a sense of value that goes far beyond money. He also describes at length what he feels is the best investment any parent can make for a child -- an idea that will surprise most readers.


The First National Bank of Dad Related Books

The First National Bank of Dad
Language: en
Pages: 141
Authors: David Owen
Categories: Family & Relationships
Type: BOOK - Published: 2007-04-24 - Publisher: Simon and Schuster

GET EBOOK

Most parents do more harm than good when they try to teach their children about money. They make saving seem like a punishment, and force their children to view
A Smart Girl's Guide: Money
Language: en
Pages: 96
Authors: Nancy Holyoke
Categories: Juvenile Nonfiction
Type: BOOK - Published: 2014-05-27 - Publisher: Simon and Schuster

GET EBOOK

A practical reference for young girls helps them identify personal spending styles while outlining strategies for earning money, saving funds, and making smart
Jabari Jumps
Language: en
Pages: 32
Authors: Gaia Cornwall
Categories: Juvenile Fiction
Type: BOOK - Published: 2020-10-06 - Publisher: Candlewick Press

GET EBOOK

Working up the courage to take a big, important leap is hard, but Jabari is almost absolutely ready to make a giant splash. Jabari is definitely ready to jump o
Not Your Parents' Money Book
Language: en
Pages: 178
Authors: Jean Chatzky
Categories: Juvenile Nonfiction
Type: BOOK - Published: 2010-08-10 - Publisher: Simon and Schuster

GET EBOOK

For the first time, financial guru and TODAY Show regular Jean Chatzky brings her expertise to a young audience. Chatzky provides her unique, savvy perspective
Raising Your Money-Savvy Family For Next Generation Financial Independence
Language: en
Pages:
Authors: Doug Nordman
Categories:
Type: BOOK - Published: 2020-08 - Publisher:

GET EBOOK