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 to prepare her 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.”
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