(http://lifehacker.com/software/personal-finance/money-tip–save-spend-and-give-jars-251413.php#viewcomments)

Years ago, I did the same thing with my kids, with the added “real-world-ism” of their allowances matching their ages, meaning that they each got a “raise” once a year. Seemed to work pretty well; they’re all great kids/people, and understand money pretty well. Goood Job!