The consequence has to be meaningful to the child. WHat is currency for the child...a certain toy, game, book? The freedom to get from one place to another under his own volition? It is different for every kid. For my oldest, she would lose a toy for a set amount of time, for my younger, it was having to wear a harness when walking in public. Of course, the "currency" changes as they got older. But I do think that what ever you choose needs to mean something.