Right now my kids only have certain chores that are paid chores. My 7 year old's actual chores are cleaning bathrooms, putting away laundry, feeding the dog and hamster, personal hygiene, table chores, evening pickup, and room. It sounds like a lot but honestly if he's quick about it he can do the bulk of them in less than 10 mins and the rest (table chores, evening pickup) we do as a family so its no big deal. Paid chores are things that don't really have to be done but he can for extra money. Scrubbing floors and baseboards, pledging all the wood, cleaning mirrors, etc. So if noone choses to do them and they go undone its really not the end of the world.
As for managing money. I don't plan on tying that to chores completely. Obviously they can make money from chores but I plan on doing like Deanna does and give him an allowance just for being our kid. He really hasn't asked for one yet so I'm waiting until he shows he's ready for one. Once he starts getting an allowance we'll go into money management more.