Mum makes her five-year-old daughter pay rent - and contribute towards the bills

 One of the main things most parents want to teach their children is the value of money.

Normally, this is done by showing them how to get the most out of their birthday money or encouraging them to get a part-time job when they're a bit older.

But one mum has decided she wants to start this lesson extremely early.

Essence Evans has told her five-year-old daughter she must pay rent and chip in for household bills.

In total she pays $5 a week - $1 for rent, $1 for water, $1 for electricity, $1 for cable and $1 for food.

She gets the money for her $7-a-week allowance.

Essence has explained her reasoning in a Facebook post, and she's calling for other parents to do the same.

She writes: "I MAKE MY 5 YEAR OLD PAY RENT.

"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.

"So I make her give me $5 dollars back. $1 for rent $1 for water $1 for electricity $1 for cable and $1 for food.

"The other $2 she gets to save or do what she wants with."

However, she's won't be pocketing the money, and she's has actually come up with a lovely (and secret) plan for the cash she takes.

She says: "Now, 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.

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

"This strategy not only prepares your child for the real world. But when they see how much real bills are they will appreciate you for giving them a huge discount."

Her post has now been shared more 300,000 times.

Many other parents have praised her idea, with some saying they are going to copy her idea.

One wrote: "Awesome! Schools don’t prepare them for the real world, that’s our job."

Another added: "I think its a great idea at least your trying to show them to be responsible. It's better then nothing!

One parent wrote: "I LOVE THIS IDEA!!! I just wish I had thought about it myself!!!"