Would you try this three jar pocket money rule?

Multi millionaire celebrity uses to teach his kids the value of money

Elton John is certainly not short of a few bob but when it comes to teaching his kids about the value of money he has applied a very common sense approach. The singer and his husband David Furnish give their children, Elijah and  Zachary, pocket money each week but they don’t get to spend it all. Speaking to the Guardian, Elton explained
They get £3 pocket money, but £1 is for charity, £1 is for saving and £1 is for spending, they get three coins and put them in separate jars. And they have to work for it – help in the kitchen, help in the garden. They’ve got to learn the value of doing something and earning something for themselves.
It can be a tough job keeping celebrity children from being spoiled but despite living a privileged life the dads try to keep it real by bringing the kids to pizza hut or to the park. 
What do you think of their rule? Would you try it?
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