Phonics when you are homeschooling. Teach the sounds of the letters and how to blend them into words. Be prepared that it will take 3 phonics programs before the child is reading fairly fluently. This is why we have Grades One, Two, and Three. During those years, they are “Learning to Read.” It transitions in Grade Four to “Reading to Learn.”
Do not beat yourself up if your 5 year old isn’t a prodigy. Most aren’t. It is okay. Most of my children were in the neighborhood of 8 years old before they were reading the simplest words, but by 10 were as good as any other 10 year old. They are all now adults and nobody can tell whether they were late readers or early readers.
One simple idea is to start with their own names, then find other words with similarities. Suppose your child’s name is “Bradley” … First, I would teach them them sounds of “b” “r” “br” “a” “d” “l” “e” “ey” Then, we would talk about words that begin with these sounds. Use a chalkboard or poster board or notebook paper or index cards to write down those words. Then, do the same with “Mom” and “Dad” and the names of all the siblings and pets. This is a several month project. Plan on all autumn, perhaps even through the winter.