The Mum Who Makes Her 5-Year-Old Pay Rent Is A Genius

This mum's Facebook post has gone viral today.

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She's teaching her five-year-old daughter the importance of money by making her 'pay rent'.

And parents across the world are praising her for preparing her child for the real world.

(Pic: Facebook/Essence Evans)

'I make my five-year-old pay rent,' she writes. 'Every week she gets $7 dollars 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.

'I make her give me $5 dollars back. $1 for rent $1 for water $1 for electricity $1 for cable and $1 for food,' she said.

After her 'bills' are paid, Essence's daughter can choose to save the remaining $2 or spend it how she pleases.

However, unlike most landlords, Essence isn't keeping the money herself. She is tucking it away for her daughter's future.

'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,' she explained.

(Pic: Facebook/Essence Evans)

'So if she decides to move out on her own she will have $3,380 to start off.'