ATLANTA, GEORGIA — This mom is definitely preparing her daughter for the real world by giving her sound financial training at an early age.
Everything in life is the result of practice, including financial management as well as mismanagement. In essence, what you repetitively do will have ramifications.
Coincidentally, this mother’s name is Essence Evans.
According to her Facebook post, she’s decided to teach her daughter — Brooke — the value of money. She says it’s never too early.
The post notes that Essence “charges” her daughter rent, grocery, cable, electricity, and water.
According to the mother, out of her $7 weekly allowance, she charges her daughter $1 for each — leaving her $2 to do with as she pleases.
Via her post, Essence Evans elaborates as follows.
“I explained to her that in the real world most people spend most of their paycheck on bills with little to spend on themselves.”
HOWEVER, HERE’S SOMETHING MORE AWESOME
The mother isn’t spending the child’s $5. Instead, she’s putting it away for her.
“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. So if she decides to move out on her own she will have $3,380 to start off.”
Essence says: “This strategy not only prepares your child for the real world, but when they see how much real bills are they will appreciate you giving them a huge discount.”
Of course, her post has definitely gone viral and continues to spread like wildfire. She’s even the topic of daytime TV in the United Kingdom.
Several people have commented and given their thoughts regarding her methods. Many state that their parents also trained them in similar ways.
Yet, too, there were those who weren’t in agreement with the financial training. According to Fox News, one person commented as follows.
“What’s next? Charging her every time she goes in the car so she learns about cab fares? Charging her for meals but making sure she leaves 10% as a top? Seriously. Let her have a childhood.”
Some others emphasized that it’s the parent’s responsibility to take care of their children.
—>OBVIOUSLY<— SHE’S TAKING CARE OF HER DAUGHTER
You’d have to be completely dense to think $7 is taking away Brooke’s childhood — or is enough to sustain her, for that matter.
The mother could very-well not give her daughter an allowance at all.
However, with this training, she’s teaching her how to function in the real world — something many adults could still use today, apparently.
Practice develops habits, and habits develop lifestyle.
This mother is making sure her daughter masters personal finance — while still leaving ample room for her to be a playful 5-year-old.
That way, when she gets a job as a teen, she’s not blowing all her check on J’s. She’s being taught the concept of priorities.
Let us know your thoughts about it. If you have any comments feel free to share them via our Facebook page.
[Featured Photo via Twitter]