Milly wants her kids to have 'an understanding about paying bills' having gone through the toughest of times herself growing up.
A savvy mom of three has revealed she charges her three kids for rent, food and utilities.Milly, a U.K.-based mom who runs the TikTok channel budgetwithmilly, detailed her unique approach to personal finances in a video shared on the platform.Read more: Best Savings Accounts for Kids and TeensPersonal finance is one of those issues every parent should be talking to their children about at some stage. Unfortunately, the reality is that many are simply not.
'We wanted to give them an understanding about paying bills, and this is why we charge them for rent, food and utilities a pound each, from their £5 allowance they get each week, for doing chores around the house,' Milly said.Milly is a keen advocate for making your money work for you. 'My one piece of advice for someone to better themselves with money would be to learn how to earn, use and multiply money,' she said.That's something she has sought to instill in her kids.
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