Wow! This Woman Charges Her Own 5-Year-Old Daughter Rent To Teach Her The Importance Of Money

Posted by Samuel on Fri 19th Jan, 2018 - tori.ng

A woman has told of how she charges her own daughter rent to make sure the little girl learns about the importance of money.

Essence Evans charges her daughter rent

A mum has revealed she charges her five-year-old daughter rent to teach her the importance of money - and her trick has been labelled as "brilliant".

Essence Evans, from Georgia, US, said she makes her little girl pay her $5 out of her weekly $7 allowance, while secretly putting the "rent" in a savings account for her.

Writing in a Facebook post, which has since been shared more than 316,000 times, the mum announced: "I MAKE MY 5 YEAR OLD PAY RENT.

"Every week she gets $7 dollars in allowance. 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.

"So I make her give me $5 dollars back. $1 for rent $1 for water $1 for electricity $1 for cable and $1 for food.

"The other $2 she gets to save or do what she wants with.

"Now, what she doesn't know is the $5 is actually going away in her savings account which I will give back to her when she turns 18.

"So if she decides to move out on her own she will have $3,380 to start off.

"This strategy not only prepares your child for the real world. But when they see how much real bills are they will appreciate you for giving them a huge discount."

She urged other parents to take up important money lesson - and received plenty of praise for doing so.

Melissa Thomas wrote: "You are brilliant for teaching this to your child in this way!

"I have done similar with my kids, and I am now the proud parent of two young ladies who know and respect what they can earn more than something given to them."

Maria Gahan-Broman added: "I did a similar version of this when my boys were little, they have turned out to be amazing men and fathers, great with money, taking care of their children, owning their home, paying mortgages down, staying out of debt."

Lorrie Pope-Wiggins said: “We always want better for our kids, but they also need to know that life is real, and nothing is handed out.”

But not everyone was all for the idea.

Tiffani Dowell wrote: "Why are you teaching her to struggle?! Save $3/donate $2/spend $2.

"She needs to pay herself first (saving) which teaches her to save her money in the future, give to those who have less (donating) which teaches her empathy for others and enjoy the fruits of her labor hence spending the last.

"Telling her that ppl spend all their money on their bills is not true. You are teaching her to expect to struggle."

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Source: The Sun UK