How do you use Less Accounting? -- The Bank of Dad
written by Steven on August 01, 2007
A few days ago my five year old came home from school with a dollar. After the interrogation about how the dollar came to her (the story is very similar to Bilbo's) was over, we talked about what she would do with it. After iterating an almost endless list of toys that all cost more than one dollar, I began talking to her about banking and interest and how if she puts the dollar in the bank then that dollar will grow into two and then three and pretty soon she will have enough for the new dolly that she is pining for. The Bank of Dad was born. We went into my Less Accounting account and created a new business and a new bank Account called "Bank of Dad" and recored the deposit of one dollar. She has been checking daily to see if any interest has accrued (none yet). Do you have any good stories to share? How do you use Less Accounting?