I know you have a ton of answers already but I love it when I hear parents implementing chores. It is an awesome thing to teach your children responsibility and how to earn a buck!
At our house we do a chore chart (I have 4 kids but only 2 are really ready right now). I actually pay $0.50 per day for my 5 year old and $50 a month for my 11 year old. I know, I know, you are probably thinking this is WAY too much, but here is the big picture. For my 5 year old, a per day allowance allows us to track how he is doing much closer and allows him to see the benefit sooner. At 5 you don't understand time as much and instant gratification is a much more successful technique in teaching him to do his chores.
The reason I pay so much is so I have something to work with in teaching him about money. I pay weekly with him, and the first thing we do is look at the chart and see if he actually did his chores all week, any day missed results in no pay for that day. Then I give him the money he earned and show him what he did not earn by not completing his chores. He then has to take some out to save and some to tythe, both of my boys have a pre-determined percent. And "yes" at 5 my son gets it, we look at his savings so he can watch his money grow physically (we keep it in a safe until it is enough to put in a bank). Another reason I pay so much is then he actually has enough to reap the reward of earning money which is to buy something for himself - this is SO fun for him. This also takes me off the hook for buying stuff for my kids when we go to the store, they have their own money, if they want it, they can buy it themselves. There have been many occasions where they didn't have enough money on them and couldn't get what they wanted. It is a great way to teach them to save up for things as I also do not let them borrow from each other, cash only, if you don't have it, you can't afford it.
Here is the list of chores I have for my 5 year old:
Monday - clean the bathrooms (just sinks, counters, and toilet, no floors or bathtub)
Tuesday - dusting (whole house)
Wednesday - help with laundry
Thursday - pick up the sun room
Friday - put away the shoe basket (big job for a family of 6)
Saturday - water the plants
Sunday - off
Now, he is not very good at any of it yet but he tries real hard and does not complain which makes it all worth it. In addition to this list, both boys are required to do the dishes after dinner each night, unload the dishwasher each morning, pick up their room every day, make their beds, etc. I call those types of chores "Daily Maintenance", like brushing your teeth. You don't get paid for just general tidiness.
Hope this helps, I think you are on the right track, you won't regret setting this standard for your child now. Enjoy!
I think you