The kid is 3 and we have been toying around the idea of chores, allowance, saving, and spending. We came up with a plan that her chores would be to feed the dogs, treat the dogs when we leave and feed the fish. She has a white board that she marks down each day after the task is completed. At the end of the week she gets a small amount of money. She has 3 jars that the money is separated out into. The jars are "Save, Share and Spend" . We make her save 10% of her money, then she has to put some in the "Share" jar and then the rest in "Spend". This seems to be working really well. The money she saves goes into a bank account every couple weeks at a bank that has a special program for kids. The money that goes into the "Share" jar are going to be used for something around the holidays to help were needed. The "Spend" money is for whatever she wants, usually a toy at the store but sometimes candy or some other treat.
Then we came up with a system of rewarding good deeds. I created the "Super Awesome Reward Coupon" .
We liked the idea of "mom bucks" but at her age we didn't think that each coupon needed to be a whole dollar. We also liked the idea of saving them and working towards a goal. We decided on five different things she could work towards. The first item on the list was a $5 toy, an addition to a collection she already has. The second was a trip to the ice cream shop, with a super sundae. The third is a small doll, the forth is a large expensive doll and the last is a trip to the Washington DC Zoo. I made a chart that at the end of the week she turns in her coupons selecting which item she wants to put it towards. Each block is one coupon and some items have 20 blocks to fill in and others have over 100 blocks to fill. After 2 months of collecting she received her first reward.
Here is the Download Coupon file I made. I designed the little owl along with the saying "Spend Wisely". We printed them on cardstock. They hold up very well after repeated use and being stored in wallets.