They need to know the value of a buck, and that they are are rewarded monetarily for work performed.
Cue the discussion about allowance.
Some experts say that an allowance is a good idea. A typical weekly amount is one dollar per year of the child's age.
There's a debate whether you should pay for tasks that are family expectations (like making the bed, picking up toys, etc.), or whether allowance should only be given for doing extra chores.
I'm not here to debate.
When I was about 10, I was really into that allowance thing. I drew up a written contract detailing jobs and payment schedules. I was ready to negotiate some sweet terms for my younger brother and myself.
I sat down with my dad to discuss my terms. He read it over, and said something that has stayed with me all of these years.
He said that he, as one of eleven kids, never got an allowance. His dad expected him to be good for nothing...and he expected us kids to be good for nothing too.
Since I'm now unemployed, I have no income.
He's smiling down at me right now...cuz I'm still good, for nothing.