Felicia, a young mom on TikTok, said the innovative 'game' has given her daughter the incentive to do chores and save money.
Editor's note: This article was originally published on April 29, 2021. It has since been updated.
One of the most important things you can teach your children is the value of money. Kids who learn the value of money early in life will understand the importance of it, and more importantly the lack of it. It inculcates in them a habit to save and not spend money unnecessarily. A mother on TikTok, who goes by Felicia, explained an innovative way to help teach kids the value of money. TikTok user @feliciaraefarley mapped out a whole different financial system within which her daughter operates that includes getting paid for putting back toys to paying for housing and food. In many ways, it's how all adults live on a day-to-day basis, and @feliciaraefarley wants her daughter to live in a microcosm of that. This also helps incentivize and motivates them to do chores at home.
While many praised the mom for teaching her daughter the value of money and financial literacy, some criticized her for forcing her daughter to 'earn' her life at such a young age. Here's the system she created for her daughter and you can decide for yourself if it's wrong or if it's something you'd love for your children to pick up on.
Felicia said she looks up Pinterest to find age-appropriate chores for her daughter and often finds new interesting chores to keep her engaged, while also having fun. Here's one such chart from Crafting Chicks:
The video has been viewed more than 1.7 million times. So many followers praised her for the idea.
Not everyone bought into the idea, with some commenting that children should be able to enjoy their childhood without having to worry about earning and saving money.
Some wanted to take it further.
After some people asked if she would withhold food or basic care for not doing chores, Felicia responded clarifying in another TikTok video that it's just a game to encourage savings. She added that she doesn't withhold food or denies her daughter anything for not doing a chore. She just doesn't get paid for it. Felicia told her followers that she stills buys things for her daughter and that she doesn’t live off $2 a week, according to Boredpanda. She also added that she wanted to give her daughter a foundation on being financially responsible, something she never had. The young mom also said that her daughter really enjoys the 'game' and looks forward to it.