A mother is being praised on social media over her unorthodox method of teaching her daughter the importance of money.
Last Sunday in a Jan. 14 Facebook post, Essence Evans describes how she gives her daughter a $7 allowance. But at the same time is teaching her that only a part of the money will go to what she actually wants.
She said her method is to help prepare her 5-year-old daughter on how the real world works.
“I make her give me $5 dollars back,” Evans wrote. “$1 for rent $1 for water $1 for electricity $1 for cable and $1 for food.”
The two dollars left are for the daughter to spend at her leisure.
The mother said she keeps the $5 return in a secret place, unknown to her daughter.
“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,” Evans wrote. “So if she decides to move out on her own she will have $3,380 to start off.”
The post spread like wildfire on Facebook, garnering over 224,000 reactions and over 312,987 shares, as of writing.
The mother is also urging people to share her message on finances with other mothers. Her reasoning, “When they see how much real bills are they will appreciate you for giving them a huge discount.”
Evans’s post has generated much discussion online. Out of the over 43,000 comments—most are positive.
But not everyone agrees. Some said the child is too young to be learning these life lessons.
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