I saw that you recently added a blog post sharing the story about the mom on Facebook who charges her 5 year old for rent, however, you didn’t share your personal opinion.
Being that you openly share that you have a 6 year old daughter yourself, what are your thoughts?
Hey Girl, Hey!
After reading this letter, I decided to actually reach out to the mom via Facebook Messenger to see if she’d like to join an episode. I reached out to her last night, so hopefully she responds so that we can chat about this because I’ve received so many comments about that post.
For those who are unaware, mom Evans Essence shared on Facebook that she gives her 5 year old daughter $7 per week in allowance money. Out of the allowance she makes the young child give her $5 back. She broke it down as such: $1 for rent, $1 for water, $1 for electricity, $1 for cable, $1 for food. Her aim is to teach her daughter how to be financially responsible. Also, she’s decided to take all of the money collected and place it in a savings account so that her daughter will have $3,380 to start off with in the future.
This mom has received lots of news attention surrounding this, and both negative/positive feedback!
Yes, I do have a 6 year old daughter. But first off, I’d like to say that I don’t really talk about other peoples’ parenting styles unless they are harmful to the child.
Would I personally charge my daughter for rent? NO! She’s 6, and I feel that there are various other ways to teach her how to financial literate. But do I think it’s a horrible tactic? No. I just wouldn’t do it.
My daughter’s 6! I just want her to enjoy being 6! Not worry about paying bills.
I always talk about leading by example, and I’m a firm believer in that! Your child watches your every move and will eventually begin to mimic certain behaviors. As well as the behaviors of those he/she is subjected to.
For example, when my daughter was 4 my dad started collecting lose change with her and placing it into a piggy bank. So without really thinking about it, whenever she’d see lose change around she’d ask for it and give it to my dad. At the end of the year, she cashed in the change and I took her to buy Christmas presents for our family. Granted, she’d only had a few bucks, but that began to teach her how to save.
NOW, my daughter is the “saving queen.” She’s graduated from change to dollar bills/five dollar bills. Whenever she gets money from either myself or her grandparents, she saves the money in her little wallet she asked me to buy. Under no circumstance will she touch the money.
Sometimes I find it funny because she’ll say things like, “I’m going to take you on a trip ma.” And I think to myself, “A trip costs wayyyyy more than what you’ve saved.” But I’ll just respond, “Okay, one day. Just keep saving.”
So there are other ways to teach your child how to be financial responsible, you just have to be creative. And to this mom, this is her way.
I don’t knock it, I just wouldn’t do it!
That’s my opinion.