Mine haven't really gotten old for time out yet, I have 14 month old twins and they pick on each other a lot, so I put them in their crib for one minute without toys. Does it work? No! I guess it's more for me to get use to the idea of "time outs"! Haha!
Not giving them privaleges. DD (13) got in trouble at school so I grounded her. She is not allowed to be on the computer or watch tv & she has to either do chores or stay in her room. This seems to have started to work because she has to text me daily to let me know she is home & she will ask if I need her to start dinner. She isn't allowed yet but to pull something from the freezer when she gets home is something she cane do.