Bored Panda works better on our iPhone app
Continue in app Continue in browser
BoredPanda Add Post

The Bored Panda iOS app is live! Fight boredom with iPhones and iPads here.

“He Has His Rent, Electricity For His Room, And Internet”: Mom Charges Her 7-Year-Old Rent And Bills, Divides The Internet
15points
11.2K
Parenting1 year ago

“He Has His Rent, Electricity For His Room, And Internet”: Mom Charges Her 7-Year-Old Rent And Bills, Divides The Internet

Parents want the best for their kids. But this doesn’t always mean the little ones get top-quality clothes, the latest toys, or the coolest gadgets. Most likely, it means they want their sprouts to be safe and secure and to have a solid foundation for the days to come. This includes handling money.

“Without a working knowledge of money, it is extraordinarily difficult to do well in life,” Sam X Renick, the co-creator of Sammy Rabbit, a children’s character and financial literacy initiative, told Forbes. “Money is central to transacting life, day-in and day-out. Where we live, what we eat, the clothes we wear, the car we drive, health care, education, child-rearing, gift-giving, vacations, entertainment, heat, air-conditioning, insurance—you name it, money is involved.”

Recently, a mom from Florida has gone viral after she posted a TikTok with a “parenting hack” that has been “extremely successful” in teaching her 7-year-old this lesson.

Image credits: craftedandcozy

Image credits: craftedandcozy

A month ago, we at Bored Panda published a similar piece, only that one was about a 16-year-old. Talya Stone, who is a former editor-in-chief turned parenting blogger and the woman behind Motherhood: The Real Deal and 40 Now What, then told us that kids need to understand money from early on. However, every child is different and each parent needs to cater their approach accordingly.

To help the little ones get started, Stone suggested giving them pocket money and their own wallet from a fairly young age. “Tell them to bring it along on days out, and holidays, and pay for small bits and bobs they want for themselves even if it’s just a bar of chocolate,” she said. “I think I started doing this with my daughter when she was five but this could even be done before. Understanding money, how much things cost, spending power, and how to save is a vital life skill. If your child wants a new toy, instead of buying it for them every time on demand, you can encourage them to save towards it and tell them you will pay for half so long as they do, for instance. This has never been so important in the increasingly materialistic world we live in.”

Image credits: craftedandcozy

Parents should continue teaching their kids about the different aspects of money as they grow older. “Other things to do is take them along to the bank with you and set up a bank account in their name from a young age and have them deposit some of their pocket money in there,” Talya Stone added. “Talk to them about how much things cost when you are in the shops or buying online. Talk to them about what you earn or how much a family holiday or day out costs. We shouldn’t shy away from these things or be embarrassed by them. Open, age-appropriate communication around these things as with other things in parenting is vital. You can also ask to borrow money from them – a dollar here and there – and pay it back so they understand this concept too.”

As they become older, parents can also show their kids case studies of young adults who are both managing money well as well as sharing stories of those in debt.

Equally, as parents lead by example, they should talk and explain how they manage the family’s money and try not to spoil their children with material goods too much.

@craftedandcozyThis has worked wonders in my household….hope it works for you! 💓 ##parentsoftiktok ##parentinghack ##mamatiktok ##fyp ##mamatiktok ##tiktokmom♬ Aesthetic Girl – Yusei

Not everyone thought this parenting method is good

But many congratulated the mom on teaching her kid important life skills

Share on Facebook
You May Like
Popular on Bored Panda
Start the discussion
More Thinking Needed
Community Member
1 year ago Created by potrace 1.15, written by Peter Selinger 2001-2017

Childhood should be a time of wonderment, exploration, and fun. Another example of a person who places a higher value on become an "internet sensation" at the expense of their child.

Pearl
Community Member
1 year ago (edited) Created by potrace 1.15, written by Peter Selinger 2001-2017

This is what I don't get. Panda's, remember that post a week ago about a teacher teaching kids how to pay rent for their desks using "Brain Bucks". That teacher was doing the same as this Mom. Yet Bored Panda users applauded that teacher but are dissing this mom. I'm sorry, but what the heck is goin' on here?? (Please don't downvote, honest question, :D)

Load More Replies...
Beth L
Community Member
1 year ago Created by potrace 1.15, written by Peter Selinger 2001-2017

I interact with a lot of kids out in the world (mostly schools) and away from their parents. The little midget CFOs drive me nuts! They want paid for passing back papers or helping a friend tie their shoes or collecting books after silent reading. It might teach them "the value of money" but it certainly doesn't teach them the idea of doing something because it is the right or nice thing to do, or that it is just their turn to do a task.

Anna Banana
Community Member
1 year ago Created by potrace 1.15, written by Peter Selinger 2001-2017

I would also add that the idea of paying kids to take basic care of themselves (like brush their teeth, put clothes in the hamper or make the bed) doesn't seem very educational.

Load More Replies...
Leo Domitrix
Community Member
1 year ago Created by potrace 1.15, written by Peter Selinger 2001-2017

My cousin recently stopped doing this with her kids, b/c they demanded she give them $1 for... wait for it... *not hitting each other*. She only did this for six months, but the kiddos figured out the racket very quickly. They didn't learn responsibility. They learned how to get money by annoying their parents.

Nona Wolf
Community Member
1 year ago Created by potrace 1.15, written by Peter Selinger 2001-2017

Hilarious!! The kids were running a protection racket...They learned how to be mobsters!!

Load More Replies...
Load More Comments
More Thinking Needed
Community Member
1 year ago Created by potrace 1.15, written by Peter Selinger 2001-2017

Childhood should be a time of wonderment, exploration, and fun. Another example of a person who places a higher value on become an "internet sensation" at the expense of their child.

Pearl
Community Member
1 year ago (edited) Created by potrace 1.15, written by Peter Selinger 2001-2017

This is what I don't get. Panda's, remember that post a week ago about a teacher teaching kids how to pay rent for their desks using "Brain Bucks". That teacher was doing the same as this Mom. Yet Bored Panda users applauded that teacher but are dissing this mom. I'm sorry, but what the heck is goin' on here?? (Please don't downvote, honest question, :D)

Load More Replies...
Beth L
Community Member
1 year ago Created by potrace 1.15, written by Peter Selinger 2001-2017

I interact with a lot of kids out in the world (mostly schools) and away from their parents. The little midget CFOs drive me nuts! They want paid for passing back papers or helping a friend tie their shoes or collecting books after silent reading. It might teach them "the value of money" but it certainly doesn't teach them the idea of doing something because it is the right or nice thing to do, or that it is just their turn to do a task.

Anna Banana
Community Member
1 year ago Created by potrace 1.15, written by Peter Selinger 2001-2017

I would also add that the idea of paying kids to take basic care of themselves (like brush their teeth, put clothes in the hamper or make the bed) doesn't seem very educational.

Load More Replies...
Leo Domitrix
Community Member
1 year ago Created by potrace 1.15, written by Peter Selinger 2001-2017

My cousin recently stopped doing this with her kids, b/c they demanded she give them $1 for... wait for it... *not hitting each other*. She only did this for six months, but the kiddos figured out the racket very quickly. They didn't learn responsibility. They learned how to get money by annoying their parents.

Nona Wolf
Community Member
1 year ago Created by potrace 1.15, written by Peter Selinger 2001-2017

Hilarious!! The kids were running a protection racket...They learned how to be mobsters!!

Load More Replies...
Load More Comments
Popular on Bored Panda
Popular on Bored Panda
User Submissions
Also on Bored Panda
Also on Bored Panda