A mother who is teaching her young daughter the importance of saving money created division among Facebook readers over the weekend.
Essence Evans, a mother of one, took to Facebook Sunday and described her plan to turn her 5-year-old daughter's allowance into a lesson that could pay off much later in life.
"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.
She goes on to say that if her daughter does decide to move out at the age of 18, she will have $3,380 to start off with.
"This strategy not only prepares your child for the real world... but when they see how much real bills are they will appreciate you for giving them a huge discount," said Evans.
Financial experts like Kristine Davenport with Brogan Financial applaud any parent who starts the conversation early.
"You absolutely have to have an understanding of what your spending needs are and that later down the road helps you with saving," Davenport said.
Parents like Ethan and Loring Porter, who are also teachers, urged their two teenage boys to start saving money early on.
"They will need to learn how to spend and earn money at some point and the earlier the better," Porter said.
As of Wednesday morning, the post had been shared over 300,000 times and liked over 215,000 times. However, the community's response to the mother's unique way of parenting has been met with mixed response.
"Let them be little for a little while, just give her a savings account as a loving parent," one person wrote.
"Getting a child to work for spending money is [okay] but making them pay bills at [5-years-old] is just a bit to [sic] far."
Let us know what you think about the mother's response to saving money for her daughter by leaving a comment on our Facebook post.