- Oct 12, 2009
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A Georgia mom says it’s never too early to teach children the value of money, which is why she is “charging” her 5-year-old daughter for rent, food and utilities.
In a viral Facebook post, Essence Evans from Atlanta said that she makes her daughter pay household bills from her allowance.
“I MAKE MY 5-YEAR-OLD PAY RENT. Every week she gets $7 dollars in allowance,” she wrote. “But I explained to her that in the real world most people spend most of their paycheck on bills with little to spend on themselves.”
Evans explained that she “charges” her daughter $5 a week - $1 for rent, water, electricity, cable and food each.
“The other $2 she gets to save or do what she wants with,” Evans added.
As for the $5, Evans said she is putting it in a savings account that her daughter will have access to when she turns 18.
“So if she decides to move out on her own she will have $3,380 to start off,” she wrote. “This strategy not only prepares your child for the real world. But when they see how much real bills are they will appreciate you giving them a huge discount.”
The post, shared on Sunday, has since gone viral with thousands of people chiming in.
“My dad did a similar scheme he gave me half my pocket money and wrote the remaining amount in a book. This was a saving account before banks allowed children’s accounts,” one person wrote. “I think this gave me respect for money and enjoyed saving. I didn’t get interest but I enjoyed watching the amount grow and made me think before I withdrew the money and this is a lifetime skill I have taught my children.”
Another wrote: “I support it. Even from a young age, everyone has their part to contribute and learning it early isn’t hurting anything at all! I applaud this mama for an out-of-the-box approach.”
However, some were not as supportive.
“What’s next? Charging her every time she goes in the car so she learns about cab fares? Charging her for meals but making sure she leaves 10% as a top? Seriously. Let her have a childhood.”
Another wrote: “It’s the parent’s responsibility to take care of their kids. I think this is going a little to [sic] far.”
A Georgia mom says it’s never too early to teach children the value of money, which is why she is “charging” her 5-year-old daughter for rent, food and utilities.
In a viral Facebook post, Essence Evans from Atlanta said that she makes her daughter pay household bills from her allowance.
“I MAKE MY 5-YEAR-OLD PAY RENT. Every week she gets $7 dollars in allowance,” she wrote. “But I explained to her that in the real world most people spend most of their paycheck on bills with little to spend on themselves.”
Evans explained that she “charges” her daughter $5 a week - $1 for rent, water, electricity, cable and food each.
“The other $2 she gets to save or do what she wants with,” Evans added.
As for the $5, Evans said she is putting it in a savings account that her daughter will have access to when she turns 18.
“So if she decides to move out on her own she will have $3,380 to start off,” she wrote. “This strategy not only prepares your child for the real world. But when they see how much real bills are they will appreciate you giving them a huge discount.”
The post, shared on Sunday, has since gone viral with thousands of people chiming in.
“My dad did a similar scheme he gave me half my pocket money and wrote the remaining amount in a book. This was a saving account before banks allowed children’s accounts,” one person wrote. “I think this gave me respect for money and enjoyed saving. I didn’t get interest but I enjoyed watching the amount grow and made me think before I withdrew the money and this is a lifetime skill I have taught my children.”
Another wrote: “I support it. Even from a young age, everyone has their part to contribute and learning it early isn’t hurting anything at all! I applaud this mama for an out-of-the-box approach.”
However, some were not as supportive.
“What’s next? Charging her every time she goes in the car so she learns about cab fares? Charging her for meals but making sure she leaves 10% as a top? Seriously. Let her have a childhood.”
Another wrote: “It’s the parent’s responsibility to take care of their kids. I think this is going a little to [sic] far.”
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