Mum Gets Daughter To Pay Bills To Teach Her The Value Of Money

A mum gets her seven-year-old daughter to pay bills so that she learns the value of money. Watch her explain why:

Felicia shared the video on TikTok, saying that her little girl earns herself some pocket money by doing chores so that she can contribute towards bills every week, in a bid to prepare her for the real world.

In the clip, which has been viewed over a million times, mum-of-two Felicia breaks down how her daughter's finances work.

She explains: "Every week my daughter has a list of chores.

"If those chores were completed daily she will get $7 at the end of the week. She is then required to pay her bills for living in the house."

Felicia said that her daughter pays $5 in total for her keep.

She said: "$1 for food, water, electricity, internet and rent - so in total, she pays $5 for bills.

"She has $2 leftover which she can keep and save or spend."

She then says that she takes her money, which comes to about £3.60, and puts it away into a savings account for her daughter. This means that when she turns 18, not only will she have learned about earning money and the cost of living, but she also know about savings, knowing she has earned it all herself.

PA

Felicia explained what tasks she gets her daughter to do, saying that she looked for 'age-appropriate chores' on Pinterest. She said she found a list that had jobs like making her bed, cleaning up after herself, vacuuming and cleaning toilets.

The parenting hack - which if you ask me is a pretty useful way for children to learn about money - has sparked a debate about the technique.

One follower commented: "I wish I'd been taught budgeting as a kid! U'll be doing something similar to this when my daughter's get a little older!"

While another disagreed with the concept, writing: "No let kids be kids and nor worry about bills. Mine do have chores that involve cleaning up after themselves."

Another added up how much she'll have when she grows up: "That's a lot of money. If she starts at 10 and only misses like 6 weeks a year, at 18 she has $2,300 and a little bit of interest!"

Topics: Community

Amelia Ward

Amelia is a journalist at LADbible. After studying journalism at Liverpool John Moores and Salford Uni (don't ask), she went into PR and then the world of music. She spent a few years working on festivals and events. Soon realising you can't pay your bills with guestlist, she went back to her roots. In her spare time, Amelia likes music, Liverpool FC, and spending good, quality time with her cat, Paul. You can contact Amelia at [email protected].

@ameliasward