One Georgia mom recently shared her technique for teaching her child about the value of a dollar. Essence Evans asks her 5-year-old daughter to help pay rent, she said in a Facebook post that has gone viral.
But how does the 5 year old have rent money? Well, Evans gives a $7 weekly allowance to her child, expecting her to give $5 back for monthly expenses.
“[It’s] $1 for rent, $1 for water, $1 for electricity, $1 for cable and $1 for food,” Evans wrote about what she tells her daughter about the money. “The other $2 she gets to save or do what she wants with.”
The story that Evans tells her daughter about where her dollars are going is not true, she said. She actually puts the $5 in a saving account for her child. She wants to teach her daughter about financial responsibility and help her to prepare for the real world, she said.
“This strategy not only prepares your child for the real world,” the mother wrote. “But when they see how much bills are they will appreciate you for giving them a huge discount.”
Evans’ post has many folks talking and debating online. As of Tuesday, her post has been shared more than than 314,000 times with more than 44,000 comments. A lot of the posts give props to Evans’, calling out her “good intentions” and “need” to teach her daughter about financial management at an early age.
“I think this is absolutely amazing! It is a great way to teach her how the real world works and to get her a little savings account of her own so she has a good start when she moves out or goes to college or whatever she chooses to do,” Facebook user Jennifer Barfield wrote in response to the post.
Cathy White Stark agreed, writing that Evans is “a fantastic parent! Kids are clueless how things work and yes,they have this sense of entitlement. … Good job.”