One of the ways we've done this LilOne1989 is to provide an unexpected gift and make sure the chil knows it is tied to their above and beyond performance. It has been things like a toy they have wanted or even a gift card from a box store so they can get what they want and see the transaction process first hand in the checkout.

You could pay them for dusting the house or heavy cleaning (like the bathrooms and floor molding). My boys get money for cleaning debris from the yard, pulling weeds in the garden, or doing extra things that they aren't asked to do (this is bonus money and they don't get it every time). They also get a share of profits from our home business because they do work in it as well.

I like the idea about the unexpected gift cards. That would have saved me a lot of problems with telling my kids if you do such and such that I will give you this or that. Just buy the cards ahead of time and if they do something worth getting rewarded for hand them the card then and there.

I hadn't thought of gift cards either. Mine would love some to restaurants. They always want to pay and that would be their chance.

LILONE, I absolutely love your checkbook idea. Granted my son is too young to know what to do with it. (He'd color it) But I think it iis something I will implement in the future. It is a really good way to teach kids the value of money and how to do their own bookeeping.

My fifth grade teacher gave us all check books and taught us how to keep up with them. However, if you ask my husband he will tell you I was taught wrong. Not because the balance is ever off but because I don't do it the way he does. You know men and their money .

i commend you for teaching your children at a very young age about money. while what you're actually teaching them is the value of saving, you can take the extra mile by teaching them how to invest. anyway, a few months back i myself learned a lot about investing what i have saved--it's not easy but learning it was fun--i learned it through this game cashflow 101. the board game, i admit, is way more expensive than other games in the market but it actually teaches unique lessons. anyway, my friend and i bought an electronic version(having a lower price than the board game, of course) from an ebay seller. the version we got actually had 2 other games--cashflow 202 and cashflow for kids. now her 6-year old niece actually knows the differences between assets and liabilities and big deals and small deals.

I love the gift card idea. I have been trying to teach my kids about the value of money. Not sure if it is sinking in but I will keep plugging away at it.

I think that it is very important to teach children the value of money. I think teaching them to save up their own money for somethin they want will help. This way they find out how much it really takes to buy it. I think all the ideas I have read here are really great and plan on using some of them.

What I like about my children is that when they have a money of their own, they do not want to spend it. Instead they save the money. If they want to buy some toys with their money, I just asked them if they really want to buy the toys instead of saving the money so they can buy bigger and better toys. Their decision is always to save the money for the future.

What I am teaching them now is the value of hard work, perseverance and rewards. A good grade means additional money on their savings or some toys they really want. It is not much but it lets the children set some goals on their own.