AOA 029: Raising Money-Smart Kids by Giving Them Total Control of Their Money — With "First National Bank of Dad" Author David Owen
Do you fret about giving your kids too much autonomy when it comes to money and allowance? In this episode of The Art of Allowance Podcast, my guest David Owen offers a candid, funny and time-tested glimpse into the family financial system he wrote about in The First National Bank of Dad: The Best Way to Teach Kids About Money. This is a wonderfully written and hilarious book which heavily influenced my most recent work, The Art of Allowance. Using a method he developed to provide maximum age-appropriate control, David was able to raise two money-smart, money-empowered children. David has been a staff writer for The New Yorker since 1991, and he is also a contributing editor at both Golf Digest and Popular Mechanics. Named one of The Fifty Funniest American Writers, he is the author of more than a dozen books, including the aforementioned First National Bank of Dad and the recent Volume Control: Hearing in a Deafening World. This episode is chock-full of enlightening information, from simple tactics like David's enhanced interest program to his broader philosophy that autonomy drives learning. I hope you enjoy this discussion as much as I did.