My family has been homeschooling for four years.
In the past, I have always used a “list” type schedule. We would try to start school around the same time each morning, give or take an hour. We would tackle the hardest subjects first, then move onto the easier subjects.
I always thought that if there was time left over, I would get to the “fun” stuff – Rosetta Stone Spanish, craft time, and music lessons. The only problem with this approach was that there was never any time left over. This problem was getting worse as the kids got older and the schedules became more demanding.