I've found that using a points-based reward system has been an effective way to encourage positive behaviour and teach my little ones some financial literacy at the same time. My kids are always asking for the latest toy or treat, so I've started tying those desires to their behavior.
For instance, if they want a new bike, they have to earn it by earning points through completing chores or displaying good manners and kindness. The bike becomes a visible goal and teaches them that you have to work for what you want. It also encourages them to manage their expectations and understand the value of money since it's not just given to them.
It's a win-win because, at the same time, they're learning life skills like responsibility, and I'm not resorting to constant nagging. The calm, consistent structure seems to work well for us and leaves room for fun, creative incentives tailored to each child's wishes.