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Benzinga
Benzinga
Business
Ryan Peterson

'Not All of It Is Hers to Spend.' Dad Says He Makes 6-Year-Old Daughter Pay Rent as a Budgeting Lesson In Disguise

Smiling,Indian,Asian,Family,Of,Four,,With,Parents,Lovingly,Holding

A Texas father’s decision to charge his 6-year-old daughter monthly “rent” has sparked a viral debate about whether early financial education crosses into being too strict.

Michael Madden collects $3 for rent and $1 for utilities from his daughter Rose each month, money she earns through a chore-based allowance system. Every penny goes into savings for her future. 

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