'I charge my 7-year-old son rent and bills to teach him the value of money'

30 September 2021, 10:52

One woman has revealed her 'parenting hack' where she charges her seven-year-old son rent and bills every month.

A mum has sparked debate after she revealed she makes her seven-year-old pay rent and bills.

The woman - from Florida - shared a video on TikTok under the name @craftedandcozy, where she explains that she has a list of daily chores for her son to complete.

If he gets all his tasks done, he earns a dollar a day which can then be used to pay rent and bills in his house.

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"At the end of the month, he realises he has bills to pay. He pays those bills to me,” she tells her followers.

"He has rent, he has electricity for his room and he also has internet for his iPad. He then understands that throughout the month he has two buckets. He has his fun money and his bill money."

The mum goes on to say that it is his responsibility to choose which bucket his money goes into before the ‘bills’ are due at the end of the month.

She adds: "I don't do anything with his money except for put it right back in his savings account. It has taught him the value of a dollar and responsibility.

"I am so pleased with the results, hopefully it's something that can help you out as well."

The video now has more than 10k comments, with many people divided over the parenting hack.

One person said: "Okay but he's seven. Why not just let him be a kid and then do this when he's a teenager or something.”

Someone else questioned: “So what happens when he doesn’t pay his electric bill?”

While a third said: "Kids should be kids. They can worry about bills when they're older," said another.

But a fourth wrote: “I think this is a wonderful idea, but maybe for older children. I personally don’t agree with starting at seven.”

And a fifth agreed: "I get it. It teaches them the value of money and hard work. You also put it in savings so he gets it in the end instead of blowing it on candy etc.”