This is what we will do with our son when he is a little older. He will get $1.00 per year of age and he’ll get that base amount every week. He’ll have the opportunity to earn more money by doing extra chores around the house.
Of course, he’ll have to maintain his room and help with dishes or help dad rake up leaves, etc in order to get the full amount. I don’t think a kid should get rewarded for just lying around and doing nothing. I will probably start him at around age 7 or 8, when he can start to appreciate money and that things he wants will cost him some money.