#1,022 in Business & money books
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Reddit mentions of The First National Bank of Dad: The Best Way to Teach Kids About Money
Sentiment score: 2
Reddit mentions: 5
We found 5 Reddit mentions of The First National Bank of Dad: The Best Way to Teach Kids About Money. Here are the top ones.
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Specs:
Height | 8.4375 Inches |
Length | 5.5 Inches |
Number of items | 1 |
Release date | January 2003 |
Weight | 0.71209310626 Pounds |
Width | 0.8 Inches |
Here is a good reference: http://www.amazon.com/The-First-National-Bank-Dad/dp/0743204808
We do this with our kids. The kids can spend or save whatever they want. The Bank of Dad pays 5% per month. This teaches them that delaying gratification pays off. And they learn what it's like to make bad decisions, which is a great thing to do when they are little and the stakes of bad choices are pretty low.
yes, but I strongly recommend you read: http://www.amazon.com/The-First-National-Bank-Dad/dp/0743204808 first.
There's an essential thing to keep in mind: interest rates are too low and time horizons too long to actually make it possible for young people to "Get" saving at an early age. The solution to this is obvious, affordable and fun for everyone: just open your own "bank" and then pay your kids ridiculously unsustainable interest on every dollar they save (up to a limit). 1% per month. hell, 1% per week.
it teaches them math, you can afford it on small amounts of money and it gives them the opportunity to learn something about compounding at a rate they can relate to.
strongly recommended.
You should check out First National Bank of Dad.
Check out the book National Bank of Dad where the author tells strategies on how to teach children saving skills.
First National Bank of Dad
http://www.amazon.com/The-First-National-Bank-Dad/dp/0743204808
Good tips include: