During this school year, your child will take part in a classroom economy. It’s an excellent tool for teaching financial responsibility, and students love it each year. This helps students learn valuable life skills such as budgeting, saving, balancing a register, and calculating taxes.
Using classroom currency, students earn money for a classroom job and pay rent for their sitting area. They can earn bonus money in various ways, determined by each teacher. Class jobs last 2 weeks and students are paid their salary at the end of that period via a paycheck. Rent is due at the first of each month. Salaries vary based on responsibilities and rent varies based on location and seat.
The classroom bank is open each payday for students to cash or deposit their checks. Each student has a credit/debit register they keep in their ELA folder. While the bank keeps track of the account, it is the student’s responsibility to keep their register current.
We also have a classroom store once a month. After paying rent, students may use their money to buy items in the store. A mini-store front is always open in my room so that if students need a pen, pencil, or eraser, they can purchase one.
Purchasing items for our class store always counts as double Co-op hours. Oriental Trading Company and Amazon are great places for items. So is Rebecca’s in Hurst.
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