Dad bank

Author: Owen / Ta Guangzhen [USA]
Publisher:
Publish Date: 2004-08-01
Features: Actually, the meaningful part of Dad's Bank has nothing to do with interest rates; it's about control. The child's account belongs to them alone. When they save, they benefit; when they want to spend, they don't need permission. If my son decides to withdraw twenty yuan, I won't ask him why he needs the money—just as my bank doesn't ask me. Being able to truly control their own money forces children to consider our actual wishes and weigh them repeatedly. This not only sharpens their financial thinking but also gives parents a break. Many parents try their best to teach their children about money, but often the benefits are minimal and the drawbacks are many. They make saving seem like a punishment, forcing children to believe that endless spending is the only rational choice. This book helps parents determine how much pocket money to give their children; how to let them gain practical experience through various investments; how to raise them to be charitable and kind-hearted; and how to help them find value beyond money. The author also devotes a long section to describing what he believes is the best investment parents can make for their children, an idea that surprises many readers.