I would use it as a way for them to learn how to save as well. By setting up a goal chart also for a toy, game, or bigger ticket items. They are never to young to learn how to work hard for something they want to have later.
13 of the Best Chore Charts for Kids: Chores are a great way to teach kids responsibility, independence, and self-sufficiency. Getting started with kids assigned chores can be challenging, but getting organized can help. Use one of these chore charts for kids to get started.