The Family Economy – Our Kids Perspectives

Intentional Parenting, Kids Corner

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The Family Economy system has been a part of our family for nearly a decade. It has changed and evolved over time, as the children have grown. To see my explanation about the framework for this system, check out my other Family Economy Video.

In order for a child to earn family economy, we have very clearly defined expectations. If family economy earnings is important enough to a child, it is amazing how well they are able to contribute in meaningful ways, and along the way they are learning incredibly valuable skills and developing character qualities that will serve them for a lifetime!

“WHAT” has to happen, in our home, to qualify for weekly Family Economy earnings:

1. Daily responsibilities = in our home each family member has daily contributions that help our household flow.
2. Daily expectations = in our home, this includes things like putting shoes and coats away, bedroom cleanliness expectations, helping to clean up after a meal, etc…
3. Weekend chores = in our home, we all contribute to household chores on a weekend day.

“HOW,” meaning how do we accomplish these tasks in order to qualify for Family Economy earnings:

1. Contributing to the household is accomplished with a positive attitude.
2. Expectations/chores/contributions are accomplished at the time specified. For example, bedroom expectations are completed by a certain time, and so are morning household responsibilities.
3. Chores are completed thoroughly.

Keeping track:

We have a paper taped onto our kitchen cabinet that is replaced each Sunday. Throughout the week if a child does not do choose to do their morning, daily or weekend contributions, that will equal one check. If a child receives three checks throughout the week, they have forfeited family economy earnings for the week, but still are expected to do their contributions throughout the week. Two checks or less means that child has earned their family economy for the week.

Please keep in mind that every family is unique, meaning if ten families were implementing this system in their homes, I would expect it to look and feel ten different ways. If you would like support in creating a framework to implement the family economy system in your home, please visit my website to book a Discovery Session. I love working with clients who are eager to implement systems that work for their unique family.