There are so many ways to implement the Family Economy System, depending on your unique family dynamics, values and daily routines.
Ultimately, this system can be seen as a rerouting of money, to allow for cultivating growth in our children such as personal ownership, budgeting, weighing out wants versus needs, giving and so on.
Our system has changed over the years with growing children and shifting routines, however, this system has been a staple in our home for nearly 10 years.
I came to learn about this system by reading The Entitlement Trap by Linda and Richard Eyre. I would HIGHLY recommend this book to parents who are raising children in the home.
In coaching I work with parents on a variety of intentional parenting approaches, including developing a Family Economy System that works specifically for their unique family.