The First National Bank of Dad Review

In The First National Bank of Dad book, Owens speaks of how children, especially younger children, are wired to naturally save money. He feels that as parents, we tend to over emphasize that saving aspect and make it appear more as a punishment for the kids. He speaks that children are naturally more responsible with their own money than with money of someone else, like that of Dad. He tries to offer encouragement and practical advice so children are quick to save their earnings but slow to spend them on impulse purchases.

Pros: Teaching children about money is a great concept and an even better idea to put into practice. Owens gives practical advice on saving to jobs in The First National Bank of Dad book. Investing with both younger and older children is covered in this book. For parents of smaller children, the fact that it is a relatively short book to read is nice. It can be read on average in a couple of hours. The author teaches economics, not just to save. Becoming thoughtful consumers is among the topics covered in this book. He also covers what is an appropriate allowance for each child and how their allowance amount will impact their personal view of money. With the many antidotes he gives on his own life, parents get a glimpse of teaching financial principles in action.

Cons: The author argues the point that school children should not be allowed to hold a job during the school year. While this is great in theory, for many families with already too many financial pressures, this is not an option. Owens also takes a principle about allowance from a 1970’s comic book series. He states the character that did not get enough of an allowance and therefore had a poor view on money for the rest of his life. While antidotes are nice, some reviewers tend to think that the whole book is based only on his and his family’s life experiences. There is no other outside views expressed. Others may not agree that children are savers by nature and do not need coaxing to save.