A millennial mother is making her 3 children pay for rent, groceries. But there is a twist

Each child receives a weekly allowance of $6 but they have to pay their mother rent. (Representational)

Samantha Bird, a millennial mother from US, is imparting crucial money management skills to her young children, ages 6, 8, and 9. Through a hands-on method that blends allowance with real-life expenses, Bird's household finance program has caught the attention of millions on TikTok and sparked both admiration and debate.

Bird's strategy is simple yet impactful: each child receives a weekly allowance of $6, but with a twist. One dollar from their weekly earnings is earmarked for household expenses, simulating real-world financial obligations. Come the first of the month, the junior finance students contribute $1 each for rent, groceries, and utilities, tracking their expenditures on budget trackers.

The unconventional method has drawn a spectrum of responses from the online community. While some commend Bird for instilling financial responsibility at an early age, others express concern over the potential for creating financial anxiety in young minds.

Amidst the discourse, financial experts weigh in on the efficacy of Bird's approach. Rick Kahler, a financial planner and therapist, applauds Bird's initiative, emphasizing the importance of teaching money skills to children.
“When it comes to teaching kids money skills, there isn’t one way to do it,” Kahler told the New York Post.

However, not all experts are convinced of its effectiveness. Michele Paiva, a financial therapist, cautions against the possibility of inducing anxiety through this form of "envelope budgeting." Despite the differing opinions, all agree on the significance of early financial education.

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Bird remains steadfast in her mission to make learning about money management enjoyable for her children despite different opinions.

“I want them to grasp the idea of it now while they’re little and this process still feels fun for them,” she said.