Family

Money System that Works – The Eyre Method

At a young age, we all learn about money. Yet, growing up in our family the value of money became an important life lesson. When making good grades my dad gave my sister and me an allowance. You can say money was a motivator along with toys and goodies. However, my sister and I knew that we had to work hard to receive money. Most of all, our father and mother worked together using a chart to explain the difference between an asset and liability. Thankfully, the Eyre Method is a proven system that can work for families.

money system

However, when you think of a strong and dynamic family,  Richard and Linda Eyre come to mind. With a family of 11 members (19 spouses), the family focused couples certainly have family parenting under control. Over 45 years ago, the Eyres decided to focus their commitment of marriage with the principles of a higher realm or Eyrealm. Today, the Eyres, a close knit family, focus many of their books and seminars on practicing the parenting principles of “life balance”. With over 50 books sold, 9 children and 27 grandchildren it’s easy to feel their message of love, commitment, and learning how to balance parenting. 

HOW TO USE THE EYRE METHOD

In addition, many families copy their Eyre money principles as a guideline and framework for teaching children how to be fiscally responsible. As a result, www.powerofmoms.com featured an article about the success of their money system. Here is a quick overview of how to use the system.

  • USE CHARTS

Each week, make sure your chart is up and visible as a reminder to stay on track.  Hence, make a daily habit to use a sticker or marker to track progress.

  • LEARN TIME MANAGEMENT

Using the Eyre money system also incorporates learning how to manage time and tasks. Therefore, you will have specific tasks to finish daily to earn rewards.

  • GET IT DONE

There are four categories to complete to earn a reward such as Morning Stuff, Practice, Zone, and Reading.  Morning stuff is your individual wake up routine. Practice is daily homework–working on it for a minimum of 25 minutes a day. The Zone is checking your assigned areas to maintain a neat environment. Reading is half an hour every day.

  • PAY DAY

Sunday afternoon is pay day. It is a great time to review all the tasks. A family member is picked as the “banker” and pays the kids in cash. The 10-20-70 principle is a recommendation by the Eyres. Tithe 10% to church and put in an envelope for the church, save 20% for savings in the bank, and spend the remaining 70%.

Nevertheless, this system is merely a recommendation of how to establish the value of money and teach life. For more information about the Eyres parenting books and seminars please go to www.eyrealm.com

money system that works for kids

About the author

Vonda Mone'

A freelance writer, volunteer, traveler, and most important job being a single mother. Nothing is more important than sharing advice and collaborating with other mothers about what is best for our children while inspiring other mothers with positive encouragement. I am glad to be a voice and find solutions to those unpredictable life situations.

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