I take $10 of quarters each Sunday and put them in a jar. I keep this jar in a very visual place, such as by the stove. When I fill the jar, I post a list of chores that I expect to be done every morning (my list includes: make bed, bring down dirty clothes, brush hair, organize your side of the room, and about ten more items) I tell the girls that they are responsible for these chores. I show them the jar and tell them that I have placed $10 in the jar.
On Saturday, the girls get to divide the quarters that are left in the jar. If they have kept up on their chores and haven't lost any, then that's a good amount of spending money! However, if they have had a hard week and have lost a lot of quarters, they will get fewer quarters each.
The reason this works so well for my girls is that:
1. It's visual. They can SEE how it looks to lose money from the jar.
2. They start off at 100%. All they have to do it keep it!
3. Positive Peer Pressure. Since they all lose a quarter if one person doesn't do their chores*, they are good at reminding each other (so I don't have to).
I love this system. I make it last for one week because my three girls are now 7-11 years old and can wait for the reward.
Spins on this idea:
~*Try having a jar for each child. This works well if your kids struggle with losing quarters because of other siblings.
~Use nickels, dimes or pennies instead of quarters! This strategy is great for younger children (who don't need to earn as much money) OR for kids who are struggling with this concept ($10 of dimes gives them more "chances" to lose a dime without losing all their money too fast)
~Do this idea backwards--FILL the jar with quarters or dimes each night when you check off if the chores have been done. Pay each child a dime or quarter each night. They place the money in the jar and watch it fill up. Divide the money on Saturday.
This idea evolved from another system that I used when they were toddlers, which is the same concept except I put cookies in the jar, and whatever cookies were left each night became our dessert. You can read it HERE.