Our two children of pre-school age now get a 'paycheck' every Friday. Too soon? I don't think so, personally.
We call it a 'paycheck' because it is earned. They have to tidy their rooms daily and they have to put away their toys downstairs every evening. They also help to take laundry upstairs and one turns on the vacuum cleaner, the other turns it off (I know, that one is weird, but that's their way!)
They get $2 a week that they may save permanently, save half or spend on a toy or occasional cookie treat when out. We allow them to pay at the cashier desk to get a feel of how money works. We also deduct their paycheck if their chores are not done due to laziness or just not wanting to. Forgetfulness is allowed - they are young!
Anyone else introduce 'paychecks' this early, even before Kindergarten? Our children now have at least some idea how money works and the responsibility attached and look forward to Fridays and their paychecks just like anyone else. It's actually really cute to see them get their $2 every week and know they really earned it.
Do you give an allowance regardless of chores or is the money earned? How much do you hand over? How do your kids handle the money?