Mother teaches 5-year-old daughter value of money by making her ‘pay rent’
ATLANTA – A mother’s method of teaching her young daughter the importance of money is earning high praise on social media.
“I make my 5 year old pay rent,” the post on Essence Evans’ Facebook page reads. Evans says she gives her daughter $7 as allowance, but, just like in the real world, only a portion will go to the things her daughter really wants.
“I make her give me $5 dollars back,” wrote Evans, a mother of one from Atlanta, according to Yahoo. “$1 for rent $1 for water $1 for electricity $1 for cable and $1 for food.”
The remaining two dollars are her daughter’s to spend as she wants. But where are the other $5 going?
“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,” Evans wrote. “So if she decides to move out on her own she will have $3,380 to start off.”
Evans urged people to share her lesson in finances with other mothers, adding, “when they see how much real bills are they will appreciate you for giving them a huge discount.”
Evans’ advice has been shared hundreds of thousands of times and has thousands of comments, largely positive.
“Thank God for the wisdom He gave you to do this at an early age,” Lorrie Pope-Wiggins wrote. “We always want better for our kids, but they also need to know that life is real, and nothing is handed out.”
“You are brilliant for teaching this to your child in this way!!” Melissa Thomas commented. “I have done similar with my kids, and I am now the proud parent of 2 young ladies who know and respect what they can earn more than something given to them.”