Mother teaches her child the value of money in a playful way

Money may not bring happiness, but teaching children the value of money is important. Mother Felicia came up with a fun way to teach her daughter about money management.

In a video on TikTok, Felicia shares how she teaches her seven-year-old daughter the value of money. The girl is paid a weekly salary for chores around the house, but also has to hand in part of that salary for bills. That money for those ‘accounts’ ends up in her savings account. Opinions on this original approach are rather divided.

2 dollars

Felicia explains in the video that she gives her daughter one or more tasks every day. If all the tasks are done at the end of the week, she gets 7 dollars. However, the girl also has to pay the bill for gas, water, electricity, groceries, internet and rent. That is why she has to return 5 of that 7 dollars to her mother and she can keep the other 2 dollars for herself. She can do whatever she wants with that money.

Text continues below video.

@feliciaraefarleythey just don’t teach this stuff anymore #mothersofchaos #momlife #momthings #parentinghack♬ Aesthetic Girl – Yusei

Extra motivation

The mother explains that she googles chores that are appropriate for her daughter’s age. For a six-year-old, you can think of tasks such as taking care of pets, collecting socks, making the bed, setting the table, emptying bins and cleaning up groceries. The advantage, she says, is that children learn to understand the interaction between work and money. It is an extra motivation to do chores around the house, so that they automatically become a habit.

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A reward for everything

However, according to many TikTok users, there is also something to criticize. Because of this tactic, children could get the idea that everything should have a reward. Or they stop doing some chores because they feel they have saved enough. So paying kids for small chores around the house should be more about the educational value than the financial value.

extra

Felicia emphasizes that the weekly salary is not so serious. If her daughter skips chores for a day, she won’t be punished for it. Also, the girl does not live on 2 dollars a week: as a mother, she still buys the things she needs for her. A chore takes her a maximum of 15 minutes a day. The 2 dollars a week that this yields can be seen as an extra.

3000 dollars saved

The beauty of this plan is that the “bills” the girl pays is actually her own savings account. If she keeps this up for a few more years, she’ll have about $3,000 saved by the time she’s 18. Let’s hope she understands the value of money well enough at that point not to waste those hard-earned pennies in one fell swoop during a holiday in Salou ;).

Source: Bored Panda

Any more money tips for kids?

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