These chores should be outside of normal everyday chores. Older children can, depending on the neighborhood they live in, also earn money from outside sources. Paper routes, walking neighbor s pets or watering their plants when they go on vacation, mowing lawns, or even shoveling snow. Encouraging children to also volunteer their time and services, for instance to some elderly neighbors, always seems to make them appreciate the money they have earned doing similar chores for others. If a child can learn to appreciate his or her earned money, they value it more and the result is having learned the fine art of saving.
Spending verses visual earning.
A child that is allowed to spend his money with no thought involved will learn nothing more than the act of spending itself. If a child is guided in his spending, for example, picking out a costly item, and saving up for that item, the child instinctively learns the act of saving. Kids today like to have visual reminders of their savings. A piggy bank can be visual, but easy access is not always good. The exception here is very young children, who like to keep counting what they have saved, and are learning as they count.