Children can earn allowances, beginning at a very young age, commensurate with their ability. For example, a six year old can assist with picking up toys around the house for coins, while a teen might clean dishes, mow the lawn, or empty the trash for cash. Assign a value to each chore. Younger children require immediate reinforcement; therefore, pay them upon completion of the chore. Older children depending on maturity, might be paid the same day or at the end of the week. All chores should be reasonable and fair. From a young age, teach your child to save their allowance in a jar or piggy bank. When you go to a store and they get the “I wants” asking you to buy them a toy, for example, you can support them to go home and see if they have saved enough allowance money to purchase the item. This will teach them to save money, be selective in their purchases, and financial responsibility.