‘Dear me’ people sob as mum reveals how she charges her kids rent to ‘make saving fun’ – saying it sounds anything but
A MUM has raised eyebrows after revealing that she charges her three young children rent each month.
Milly, from the UK, went viral on social media after announcing she charges them for rent, food and utilities, but not everyone agreed with her tactic.
In the clip, the mum said: “Today my kids rent is due, so let’s collect their payment.
“Each week they get paid £5 and £1 per week is expected to go towards their bills.
“We charge them each £1 for rent, £1 for food and £1 for utilities on the first of each month.”
The kids hand over the money to their mum, and she also gets them to put away £2 to save for a later date.
“This is something school don’t teach our kids, and we wanted to make saving fun for once and teach them about expenses and bills in a safe environment,” Milly explained.
She then puts the money away in a savings account for the kids to access when they are older.
Milly, whose account is all about managing money wants her children to be savvy with theirs and sees no wrong in teaching them the value at a young age.
The mum said that the kids get their money from doing chores around the house, such as cleaning their room, making their bed and cleaning the bathroom.
While the kids do get to pick what they do with the rest of their money, the mum encourages them such as investing and spending.
The mum was inundated with comments asking if her kids get kicked out for not paying their bills, and of course, Milly said this would never happen.
“We don’t kick them out the house, we try work with them and do more chores around the house,” she added.
“I think this is a great way to get kids to learn about their finances.”
The clips posted to her TikTok account @budgetwithmilly have gone viral with over 2 million views.
People were quick to head to the comments section and share their thoughts, and many seemed divided by the mum’s tactic.
One person wrote: “Sounds like a really fun house…”
Another commented: “Life is to short for this.”
“Dear me,” penned a third.
Should parents charge their children rent?
Mum-of-two and Fabulous Digital Senior Reporter Sarah Bull weighed in on parents charging their kids rent. She explained:
“Kids are expensive! That’s a fact, and one that anyone entering the world of parenthood will be aware of.
“However, with the cost of living crisis hitting hard, it’s becoming increasingly difficult for many people to treat their kids in the current climate.
“So, some mums and dads have started charging their children rent.
“I do understand the concept. After all, it could be enough to cover a McDonald’s dinner for them or a trip to the pound shop.
“It also helps teach them about money and can advance their mathematical skills.
“But it’s not something I ever plan on implementing for my children.
“In my opinion, kids should be kids. And as paying for rent is something they may well have to worry about in their futures, I certainly don’t want them worrying about where it’s coming from at this age.
Meanwhile, plenty of people thought it was a brilliant idea, a fourth said: “This is genius, I wish I had been taught about how to actually budget at school and it should be in the curriculum now.”
“This is soo smart,” claimed a fifth.
Someone else added: “Great idea! Wish i’d have been taught money management as a child.”
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