Our daughter gets her age per week. (Right now it's $6). We started this when she was four. 50% is allotted to spending, 25% goes to savings, 25% goes into a charity bucket. It is not tied to chores, it is simply a weekly allowance. Thanks to random cash from family members (out of province), she tends to have a good stash of cash in her wallet throughout the year. The majority of toys/tchochkes that she wants is paid from her spending money (excluding birthday/Xmas presents). It works okay so far.
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