Essence Evans, from Atlanta, Georgia, gives her 5-year-old daughter a $7 weekly allowance. Then she asks for $5 back: $1 for rent, $1 for water, $1 for electricity, $1 for cable, and $1 for food.
According to Evans, the girl doesn’t know that her mother doesn’t keep that money. She puts it in a savings account that she’ll give her when she turns 18, and estimates it will amount to about $3.380 to help her get started in adult life.
For some parents, it’s a brilliant financial lesson. “She’s a fantastic mother”, one user said.
Others don’t see it that way: some think telling a 5-year-old girl that she “pays” for her shelter and food could cause anxiety and make her fear for her safety, while others accuse her of stealing a carefree childhood from her.
Do children learn to value money from a young age, or are there things a child should never feel they have to pay for?