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People Are Divided On This Mom's Decision To Charge Her 5-Year-Old 'Rent'

People Are Divided On This Mom's Decision To Charge Her 5-Year-Old 'Rent'
4 months ago

It's easy to blame your parents for all of the weird idiosyncrasies you developed because, up to a certain age, it's pretty much their fault.

I've pretty much resigned myself to the fact that my own son is going to blame me for all of his problems. I guess the only way for me to combat that will be the most present and enthusiastic dad that I can be and take the bad with the good.

It definitely sounds way easier said than done, but I'd imagine if I break my back trying to prepare them for all of the problems that are plaguing me now and people my age, then I'll give my son and gestating daughter a good leg up for adulthood. I'm sure it'll have its share of challenges and failures, but hopefully I can laugh at them as much as I laughed at this.

And it's no secret that schools won't instruct them on how to properly balance a checkbook, apply for a mortgage, financial aid for college, a car lease, or manage credit cards. 

Which is why I'm intrigued by this post from Mom and Facebook User, Essence Evans.

Evans wrote that she gives her 5-year-old daughter an allowance of $7 a week, but takes most of that money from her to teach her the value of a dollar.

"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."

There are tons of people who agree with this method.

Lots of people can't wait to try this same idea with their own children.

With some people saying they're already employing similar methods to teach their children how to be fiscally responsible.

But there are others who think that Evans is focusing too much on teaching her kids about money at such an early age.

While others believe that dumping that money into a high interest account would be a better use of money, especially because it's not going to be taken out anytime soon.

Plus, more pedantic Facebook users pointed out that her percentages for rent and utilities could use some more retooling.

What do you think? Is 5-years-old too young to teach your kids the value of a dollar? Or is Evans' head in the right place?