US mother reveals she charges 7yo 'bills' at home to teach her the value of money

little girl learning about money
Many young adults struggling with their finances praised the move. Photo credit: Getty.

If there's one common lament from young adults when they move out and start handing in life on their own, it's that they never learnt about paying bills or handling finances at school or through childhood years 

One US mum is out to change that, revealing the brilliant way she's teaching her seven-year-old daughter about the value of money. 

In a video posted to TikTok, Felicia Farley explains how she makes her young daughter do chores to earn money - and then use that money to pay living expenses. 

"Every week my daughter has a list of chores," says Farley. 

"If those chores are completed daily, she will get $7 at the end of the week."

So far, pretty standard. 

But Farley goes on to explain that her daughter is then required to "pay bills for living in the house". 

"$1 for food, water, electricity, internet and rent - so in total, she pays $5 for bills. She has $2 leftover which she can keep and save or spend."

Farley reveals the money that she's "paid" for bills she puts into a savings account her daughter will have access to when she's 18. 

"She can learn that she made all that money on her own."

Since being uploaded, the video has been viewed over 6.6 million times and garnered 1.6 million likes.

Many young adults struggling with their finances praised the idea. 

"This is actually genius... I turned 18 on March 1 and still know little to nothing about money. I have to learn through minor mistakes," one teen commented. 

"This is amazing! As someone who had parents who did the whole 'she'll figure it out later' thing I've barely learned to budget at 22," another agreed. 

Other parents promised to adopt the technique with their own children. 

"I wish I'd been taught budgeting as a kid - I'll be doing this with my own daughters when they get a little older!" one woman wrote. 

"I'm going to start doing this with my eight-year-old!" another wrote.