Essence Evans is causing a bit of a stir in parenting circles.
In a Facebook post, that has since gone viral, she describes how she makes her 5-year-old pay rent. Yes, you heard that right.
She explains that she gives her daughter $7 in allowance each week, but deducts $5 for rent and other bills.
"I explained to her that in the real world most people spend most of their paycheck on bills with little to spend on themselves," she elaborates. "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."
But that "rent" doesn't actually go towards bills. Evans invests it in a savings account, that her daughter will get when she turns 18:
"So if she decides to move out on her own she will have $3,380 to start off."
Not only does it prepare her daughter for the real world, she argues, but it teaches her to be more responsible with her money:
"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," she jokes.
Reactions were mixed to Evans idea. Some parents loved it:
With others saying that Evan's should just "let her kid live a little":
What do you think? It is a good idea to start teaching your kids about financial responsibility earlier on or is five a bit too young to start?
