Mum makes 5-year-old daughter pay rent
A mum is receiving backlash after revealing that she charges her five-year-old daughter rent.
Essence Evans shared on Facebook that not only does her little girl pay rent, but she is also billed for water, electricity, cable (pay TV) and food.
“I make my five year old pay rent,” shared Essence. “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.”
Essence is proud of the financial lessons she is teaching her daughter so young, but some online users do not agree with her method.
“Good way to stress kids out. That's not allowance if it's rent. Not trying to offend you. I pay for electricity, clothing and food because it's neglect if you don't. It's part of your parental obligation. Your idea is better for a teen who is working,” one wrote.
“Let kids be kids for a while. Grownup issues are for grownups. Period. She is five,” another agreed.
Another user wrote, “Yes, teaching to save is a good idea, but making her give you her money so you can give her $3,380 when she turns 18? Really?”
However, many others supported Essence’s system and thought it was a good way to save for her daughter’s future.
“It’s not like she’s pocketing the money. And she’s explaining what’s going on. She isn’t just taking the money with no explanation. I think you all forget that allowance is a privilege not a requirement for a child,” one commented.
Another said, “She is at least teaching her responsibility instead of just giving her money to spend out. Five is a good age. It doesn’t say anywhere that the child isn’t allowed to be a child. She is just teaching her responsibility early on.”
Do you think a 5-year-old is too young to be aware of these financial lessons? Or, do you think this is a great idea? Share your thoughts with us in the comments below.