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22nd July 2021
10:24am BST

The mum explained that she gives her daughter $7 a week. She then takes back $5 for her daughter's rent. She said the rent covers the cost of housing, electricity, food, water, and TV.
If only our rent was as cheap...
The mum said her daughter is allowed to use the remaining $2 on anything she likes.
The weekly $5 rent is actually being put into a savings account for Essence's daughter. The mum plans to give her the funds on her 18th birthday and we must admit we wish our parents thought of this genius idea when we were small.
This parenting technique aims to teach her little girl about money, but the mum is also setting her little girl up for the future too.
Instead of just putting the money into a savings account herself, Essence's daughter understands paying rent, even if it is only $5 a week.
Imagine only paying $20 rent! Oh, how we can dream.Explore more on these topics: