Family Economy
OVERVIEW
We organize our family economy in menu covers. Click here to see our organization and the most recent UPDATED family economy sheets can be purchased on my Etsy store apart of the Home-Centered Learning Bundle. The examples I have below are an old version we used and are free to download and utilize as you please. For more detailed explanation, please look over my Family Economy on IG @homecenteredlearning
Our family economy has changed many times over the years and this is very normal. It will always be evolving and we adapt as needed. Currently, three of my children (ages 7 and 4) - have 5 jobs to complete each day. They earn one check mark per job. I often do my youngest’s jobs with him, but the older two complete their’s independently. In the past, we’ve varied from 5-10 jobs a day. I've found 5 jobs seems to be just about right and even fewer for younger children. (IE: Make bed and brush teeth could be their only jobs.) Once your children are more responsible - you could add more jobs. We have found that as my oldest two progressed - even though they had more jobs - their jobs became too easy because they were habitual (like brushing teeth) so we simplified back to five jobs they routinely do each day.
For early years (2-3 years old), I’ve found it works best to just get a jar and use something small to reward positive behavior to fill up their jar. Once it’s full, we go to the $1 store and they can pick something out. When you first introduce this, use the smallest jar or bowl so it builds their confidence quickly. As they get older - approaching late 3-4’s usually, you can gradually increase the size of the jar and the amount of jobs so it becomes a little more challenging but still within reach. The goal is to build their confidence and reward their positive behaviors while giving them an opportunity to see that good choices means good consequences.
In my free downloads and examples, we have 10 jobs. But, you could simply cross them out or make your own if you need to adjust. Below, right now our ‘morning work’ is one sheet out of a grade level workbook and one page of handwriting but this occasisionaly changes and can be anything independent. It is easy work and meant to practice skills - not to teach them. And one of the greater purposes of morning work is to give my kids something to do while I get breakfast going and our morning routine. It takes them maybe 10-15 minutes. And, I wanted something that kept them from turning to the TV and/or making a mess in other areas. ‘Studies’ is anything that exercises their brain for the day - could be school or home work or simple as reading. These jobs should be catered to your family. Since this example, our jobs have evolved and changed.
Each week everyone has a zone they are in charge of maintaining - and we rotate zones. My husband I work in the zones my twins aren’t in and either us or my twins help our son with his zone. It should only take about 10-15 minutes to work a zone.
Every Sunday morning we have a “Pay Day” during our family council. My girls get to trade in their check marks for real money (see the breakdown for prices). And my son gets to trade in his coins for usually something small like a treat or toy from the $1 store. Over time we’ve stored their money in the envelope system with savings, spending, and tithing. Or, in little bank boxes.
NOTES ON DOWNLOADS
These sheets were primarily used for my six year old girls. My three year old son had his own chart with pictures - but he rarely utilized it independently. He liked to check things like his sisters, but for children under 5-6 who don’t understand money yet - I would suggest using a tangible item you can hand the child so they can place it into something. You can use anything, but we are currently using pennies with him. Each time he completes his job he gets a ‘coin.’ He used to keeps them in a little glass jar, but now he adds them to his savings/tithing/spending box. We will occasionally trade his coins in for experiences or other small rewards. I also use the coins as a positive reinforcement tool when he makes good choices. (We even used this same system when we potty trained him.)
The jobs are all optional - it’s the child’s choice whether or not to do them. And, I never take away checks or coins for negative behavior. If our kids choose to play instead of go to bed by their assigned time - then it is a natural consequence - they don’t get any checks - and it reduces the power struggles.
I am flexible and give my children the benefit of the doubt. For example, if I see they are working hard to be in bed on time - and it actually could be me that has held them back from getting ready (IE I asked them to help clean up something extra) - they will get a pass. As they get older and have more responsibilities - there will be higher standards to an appropriate age level.
If this is something you have never done in your home - I would highly encourage setting appropriate expectations for your sanity - and for your children’s sake while you are introducing a new way of operating. You might consider a night…or even a month’s worth… of “training” where you take the time and teach your children how to complete their jobs. Break it down in chunks so it is not overwhelming for the child. If you’ve never encouraged your child to make their bed before - you will probably need to train them and then assist them for a few weeks until you feel they can do it independently. Make working along side them enjoyable - perhaps a time where they are getting one-on-one attention so it is positive experience for everyone.
Consider age appropriate expectations. I definitely don’t expect my 4 year old to complete a zone by himself. He needs someone to help him clean up and probably will for a while longer. But, my 7 year olds are capable and I expect that of them.
Extra jobs are designed to be the “grace” for not achieving all their jobs. But, they’re also open to earn extra money at any time during their free time. I just have them write down which job they did and how much they earned.
Apart from teaching tithing, savings, and spendings. We have connected these ideas into also teaching the following concepts: time management, math, tithing, working in the family and in the community, what it means to earn income, the difference between wants and needs and choices about money.
Before COVID, we would visit the bank every few months and deposit our savings because they had a treasure chest of toys to choose from any time a child makes a deposit. At this point, my twins understand money and so I deposit their money and show them on-line how to see how much money they have in their savings. My younger son is still too young to grasp money, but for kids 5-7 who are beginning to understand and work with money I highly recommend using real money and giving them experiences to go to the bank.
Giving your children opportunities to spend their spending money is important. We used to start with going to the dollar store. Now, older kids can save up for things they want or that I am unwilling to purchase. For example, one time my daughter (then six) was begging for a happy meal and I hadn’t planned to go, but I told her if she wanted to use her own money we could stop and she could get one with her own money - so we did and it was a great little lesson for her.
Remember, this will constantly evolve but I hope this gets you started and inspired for what will work best in your home.
