ATLANTA — A Georgia mom is going viral for posting about her method to teach her young daughter the importance of saving money.
Essence Evans, mother of one, posted on Facebook Sunday, describing her plan to turn her 5-year-old daughter's allowance into a lesson.
"Every week she gets $7... in allowance. But I explained to her that in the real world most people spend most of their paycheck on bills with little to spend on themselves," Evans wrote. "So I make her give me $5... back. $1 for rent, $1 for water, $1 for electricity, $1 for cable and $1 for food.”
"The other $2 she gets to save or do what she wants with. 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," continued Evans.
Essence points out that if her daughter does decide to move out at the age of 18, she will have $3,380 to start off with.
As of Wednesday, her post had been shared over 300,000 times and liked over 215,000 times.
People seem to be divided saying 5 is a little too young to teach the principle, while other widely praised Evans for her creativity.
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