Our oldest daughter is ten years old.
She gets a weekly allowance for doing specific chores around the house as well as for helping out in general.
Payday for her allowance is Sunday.
Want to teach a child how to remember a day? Have them remember their allowance pay date! Not a week goes by that our daughter doesn’t remind us on Sunday that it’s pay day.
I’m not complaining, mind you. I think it’s pretty cool that she remembers and keeps track.
Anyway, we give her the allowance in cash. Over time she has built up a tidy little sum, adding to it the occasional birthday or holiday money she has received. The money is hers to do with as she wants, though we help guide her and advise her in her spending.