Why This Mum Makes Her Five-Year Old Pay Rent
This is currently trending on social media! Virtually all mums are totally up for any ideas on how to teach their kids how the world works, and how to manage money in a responsible way but to make your five year old pay rent? That’s a new.
Essence Evans explained on her Facebook page that she gives her daughter an allowance every week, but then she expects her to pay rent.
Although that sounds like a harsh life lesson to learn when you’re five, it sure beats learning it when you’re 25, broke, and wondering how you’re going to pay rent this week.
”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.
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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
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SHARE THIS ON YOUR TIMELINE FOR ANOTHER MOTHER TO SEE.”
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And just in case you think the mom is a total ogre, you should know she’s putting away all those weekly $5 payments into a savings account for her daughter.
When it comes to teaching our kids how to manage in the real world, it’s never too early to start.
Photo credit: Facebook
Wow. I love this. Teach them how to be responsible while they are still very young. This lesson will never depart from her.
Wow…this is awesome, the best way to groom a child on savings and expenditure. Catch them young.