In the age of innovative parenting techniques, one mum on TikTok has shared her unique approach to teaching her seven-year-old son the ropes of real-world financial responsibility.
For the past two months, the Florida native—who posts as @craftedandcozy on the platform—has been trialing a method that might raise eyebrows but, according to her, has proven "extremely successful."
The parenting hack, as she refers to it, begins with a daily task list for her son, but it's not just about chores.
As she explains, "Should he complete everything on his task list, he gets $1.00 per day." It's a modest sum, but it's the lesson behind it that she's trying to impart.
The mother shared some of her son's daily tasks, including making the bed, brushing teeth, cleaning the bathroom, and putting dirty clothes in the laundry basket. If she notices areas where he struggles, those promptly find their way onto his weekly task list.
Paying Monthly Bills
At the end of each month, her son faces a simulated taste of adulthood as he realises he has bills to pay.
His obligations include paying rent, covering the cost of electricity for his room, and contributing to the internet expenses for his iPad.
This exercise helps him grasp the concept of budgeting and categorising his money into two distinct buckets: "fun money" and "bill money."
But here's the twist: the woman doesn't keep her son's hard-earned money. Instead, she diligently deposits it straight back into his savings account.
"It has taught him the value of money and responsibility. I am so pleased with the results," she concludes, encouraging other parents to give it a try.
The Financial Breakdown: Rent and Bills
Financially speaking, the mum charges her seven-year-old son $5 as monthly rent, while electricity and WiFi each cost him an additional $2 per month. These figures have sparked a wide range of opinions, with some applauding her innovative approach to teaching financial literacy at a young age.
One commenter noted, "I don't care what age he is; this is so smart because some people still don't understand this even as adults."
Others suggested taking it a step further by introducing late fees, mirroring the real-world consequences of late payments.
On the other side of the coin, some viewers raised concerns about whether such responsibilities are appropriate for a child. They argued that children should be allowed to enjoy their childhood without the added stress of bills and rent, suggesting that these lessons could wait until later in life.
"Why worry him with this sort of stuff? Do it when he's a teenager or something," suggested one person.
"He can worry about bills when he's older," agreed someone else.
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