Is this mum right to charge her 5-year-old daughter rent?

A mum has admitted to charging her daughter rent, despite the fact that she is just five-years-old.

Taking to Facebook to share her unusual parenting technique, Essence Evans revealed that she gives her little one $7 (roughly £5) pocket money every week, but makes her give back $5 to illustrate the money she’d have to pay towards bills when she’s older.

After paying $1 each for rent, water, electricity, cable and food, her daughter is left with $2 to spend on whatever she wants.

Though her money method may sound a bit harsh, but she went on to reveal that she is actually putting the money she collects from her daughter into a savings account for her.

“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,” she explained. “So if she decides to move out on her own she will have $3,380 to start off.”

Essence continues: “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.”

But parents were divided about the mum’s unique way of teaching children the value of money.

Some thought the parenting method was a great way to help children understand the concept of money.

“You are an awesome mother / teacher!! We need more parents to teach their kids this!!!” one user commented.

“I wish this was a thing when I was a kid,” another agreed. “I’d probably be in a better situation buy now.”

Others, however, thought that at five, her daughter was too young to be learning such lessons.

“Why nor let the poor kid enjoy her childhood?” one user wrote.

“No…noooo. She’s 5. FIVE. All she understands is you taking away her money. Doing way too much,” another user agreed.

Whatever your thoughts are on the mum’s financial tactic, she’s likely enforcing her money rule for all the right reasons and hoping her daughter grows up knowing the value of money and how to live within your means. And let’s face it that’s a lesson most grown-ups could do with.

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