This is a terrific little book that could completely change the way many parents think about children and money. Owen, a staff writer for the New Yorker, entertainingly details ways to "raise children who aren't overwhelmed by the financial side of life." He convincingly argues that the purpose of most parental savings plans for children "is not to promote saving but to prevent consumption." His book sets forth a very clever idea: by setting up a checking account for his children using a Quicken program with a high interest rate-5% per month-Owen shows how he was able to teach them that "the more you save, and the longer you hold it, the more you will be able to spend." In each case, he deftly proves his main idea: that "they became savers because I created a system that rewarded them for spending less than they earned." Most important for parents beleaguered by kids demands to "buy them something," Owen shows how a savings program such as his can help take the emotion out of buying, so that the question kids have to answer "is not `How can I talk Dad into paying for this?' but `Is this something I really want?'" His savings plan (along with his equally interesting "Dad Stock Exchange" idea) is rooted in a clear-headed view of economics as well as a good-faith desire to help parents help kids to become responsible, not greedy, adults.
Copyright 2002 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
"Lively and entertaining, filled with self-deprecating humor, anecdotes, insights, and clear explanations." -- USA Today
"Saving money . . . should be the child's choice. For an idea that might get your kids to a nest egg voluntarily, take a look at David Owen's book The First National Bank of Dad." -- Jane Bryant Quin, Newsweek
"When your children grow up, few things will affect their lives as much as the presence or absence of money. Unfortunately, most teachers and parents devote little systematic attention to teaching them how to live their economic lives. Start with this enjoyable book for some excellent suggestions." -- Pittsburgh Post-Gazette
"This is a terrific little book that could completely change the way many parents think about children and money." -- Publishers Weekly
Lots of good suggestions that can be easily adapted to your situation.Published 2 months ago by CGunther
David Owen has a great summary of his book on EconTalk. http://www.econtalk.org/archives/2012/05/owen_on_parenti.html
The ideas he presents are novel and powerful. Read more
David Owen does a good job keeping his material fun and playful while talking about what could be a very dry subject. Read morePublished 14 months ago by Adrian Harris Crowne
The first few chapters were helpful in setting up my bank of mom. I would have liked more direction on how to set up Excel or another program to do the interest calculations. Read morePublished 19 months ago by Tall Mom
Practical, quick read for parents. We started implementing the Bank of Dad idea immediately and our kids ages 6 and 9 are so excited to save money and earn interest. Read morePublished 19 months ago by Lynette Larkins
I am always skeptical about parenting advice, yet I keep reading it. Owen breaks down a plan to teach fiscal responsibility in a simple way peppered with humor and illustrative... Read morePublished 20 months ago by J. Hinkle
My son is now 12 years old. I bought this book about 5 years ago to help my son learn the value of money. Read morePublished on August 9, 2013 by KRS
I have had a bank of dad for my children since they were born over ten years ago. I even introduced home made cheque books and they get 10% interest on their savings. Read morePublished on February 28, 2013 by S Ony