There are a few chores my son is expected to do every week regardless, but others (like mowing the lawn) that are his option and that are paid. I like to make sure he has an opportunity to earn money and not be reliant on us if he wants to buy something.

I give him the option to be paid in cash or sats (he has a lightning wallet.) He usually prefers the latter so he can spend it online.

My success:

Seasonal outside work also expected. If you help out around the house, then you are free to do work for neighbors (who usually pay more than I ever would!)

We give our daugther fixed amount of fiat money per week. In cash. + sometimes some extras for something she do extra. From time to time she manages to save some of it and then gives it back to me and asks for BTC instead.

I think you are right. An allowance meeting is critical. We don’t do allowance. My kids collect coins and cash where they can. But, we don’t give them any “allowance” and definitely not a debit card. They are still young though, not driving around on their own. But, if they need something, I’ll pay for it. But, we are always talking about money, finance, savings. They see us doing our budget. They hear us talking about saving, buying, etc. I think that’s what’s important. At least for us. I think then knowing it’s my money, and not theirs, but I freely give it to them also helps them understand family snd generosity better. Not saying don’t do allowance. But, I’ve seen it done where it just creates entitledness instead of thankfulness.

My 2 older kids are 12 and 11, and they don't get allowance. They get red pockets from family and friends annually from Chinese new year, which is usually a lump sum amount of about $250-$300 total a year. I get them to save at least half of it in sats, and the rest they keep as spending money. But now, they would just convert everything into sats, because I've brainwashed them into believing that the purchasing power of bitcoin goes up over time. They would put the amount they want to save in their on chain wallet (Nunchuk) and the spending amount in their lightning wallet (Phoenix). I'm their source of fiat if they want to buy things with fiat, and I make it a point to always want to get their bitcoin (which I actually do).

I also give them the choice of picking a $100 birthday present on their birthday, and a $100 Christmas present for Christmas, or $100 equivalent in sats for each occasions. They both took the sats for 2022 and 2023; looking back, it seems they both made good choices.

They also have chores that they must do for free, because they are part of the family and must contribute to helping the family. Chores include but not limited to, doing laundry and folding them after, washing dishes, sorting recycling, taking out garbage, raking leaves in autumn, shoveling snow in winter, baby sitting their baby brother (5yr old). I also offer them tasks that I pay for them to do such as washing my cars, resupplying my work supplies, or working for me. Basically anything that I would otherwise need to pay someone else to do or something that I get paid doing, I would pay them if they do these tasks.

Otherwise, they don't have a fiat bank account. I deal with them purely in cash and in sats, although they tend to always want to keep their money in sats and only exchange fiat with me when they need to.

So, parents of elementary school graders typically give their children smart watches, which they will use to buy food during recess time at the canteen. I don’t think allowing them to go cashless is a good idea because children are visual creatures. They need to handle notes and coins in order to develop a sense and appreciation of money. So, my boy is four years old and I let him spend his Chinese New Year money on the toys he fancies - because it’s only through consumption that he can analyse whether he’s making correct money decisions.

I’m not doing sats at the moment. Cash is still predominantly used in my society and I want him to feel confident about that first