Our class will implement a classroom economy system this school year. It’s an excellent tool for teaching financial responsibility and many other things, and I think your child will enjoy it.
I want to let you know how it works. Using classroom “currency,” students earn money for jobs and pay rent for their desks or buy them. They can earn bonus cash by helping others, earning table points, bringing in homework, being punctual and more. On the other hand, students who don’t meet classroom expectations may receive a fine. That could happen, for example, if they don’t complete assignments or don’t listen when other students are speaking. The could also be fined if they don’t have homework without a note or are missing their name on a paper. The classroom economy helps children to learn valuable life skills such as organization, the value of saving, and delayed gratification. Rather than being told about the importance of these skills, they actually experience them. In addition, the system fits in well with the other parts of our curriculum.
We’ll also have a little fun with it! After paying rent, students can save money to spend at weekly auctions where they get to bid on items. These items will be tickets such as, work in the hallway, chew gum in the classroom, have lunch with Mrs. Fier, and much more. The children will certainly enjoy themselves, and I know you will appreciate the skills and knowledge they learn along the way. Our system is based on the “My Classroom Economy” program developed as a volunteer project by employees of Vanguard.
Don’t be surprised if your child comes home one day with questions about paying rent, or regrets about overbidding for an auction item. You might find it a great opportunity to have a thoughtful discussion about financial responsibility. I’m really excited to begin and learn more about this process and I think the kids are too.
If you have any questions about the classroom economy, please feel free to contact me.