I've done this with my girls since they were little, because it works for me. Each child has a laundry basket in her room. This is for her dirty laundry only - towels go in the "community" hamper. When the basket is full, it's time to do a load. Anything not in the basket will not be washed by me. As a result, we've had very few items of clothing come up missing, including socks. Except the items that have migrated away from home in someone else's overnight bag or somehow forgot to put themselves back in their luggage, and the ones they've loaned out or given away or traded, but we don't wanna talk about that right now.
They've been doing their own laundry now for years, ever since they grew tall enough to reach the washer settings.
This has saved me loads of time and energy (pun intended).
Got a handy-dandy tip you'd like to share? Wanna see more great ideas? Go see Shannon at Rocks In My Dryer - you'll love her site!