Father Michael Madden has defended his decision to charge his young daughter rent, emphasizing that his intentions are well-meaning.
The topic of charging rent to those living at home usually revolves around working adults or older teenagers, not young children.
Yet, Texas father Madden is doing just that.
He took to social media to explain that he is teaching his six-year-old daughter, Rose, about financial responsibility. He shared the details of how she earns ‘income’ and the amount he requires her to pay.
Madden, who works as a territory manager for a mechanical distributor in Central Texas, explained his motivation, citing the struggles many adults face with managing money and his desire to prepare his daughter to avoid similar challenges.
In an interview with People, Madden stated: “I thought, if she’s going to earn money, it’s also important she learns that not all of it is hers to spend.”
Rose accumulates money by completing household chores and fulfilling her responsibilities without prompting, such as brushing her teeth or tidying up.
These chores translate into points, and upon reaching 25 points in a week, she earns $5, with a bonus at 30 points.
A portion of her earnings, 20 percent, is allocated toward rent and utilities. In a TikTok video on his page, michael_talksmoney, Madden showed himself requesting Rose’s payment of a $3 rent and a $1 utility bill.
He clarified: “It all gets saved for her.
“We don’t take her money. It’s more about showing her that when you earn money, a chunk of it goes toward your needs before your wants. It’s a budgeting lesson in disguise.”
Despite his intentions, Madden has faced some criticism on social media.
One commenter questioned: “What’s wrong with being a child and not having to worry about money rent and utilities?”
Another remarked: “Teaching them to pay bills is not teaching about money.”
A third person expressed concern: “Damn. She gonna pay bills literally her entire life. Like she won’t even get to enjoy being a kid.”
Conversely, some have praised the approach.
Someone commented: “It’s actually smart. She learns young. Knows the value of a $. Good smart parenting.”
Another person shared: “Wait I wish my parents did something like this financial literacy and comprehension is so important.”
Would you have appreciated your parents instilling such financial lessons in you when you were young?