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In our classroom, we have an "Economy System". Each week, students earn (play) money for completing their "jobs" successfully. On Fridays, students will have the opportunity to cash in their earnings for the week in our class store. The students can, also save their money to purchase an item of higher price that they are interested in.
Why do I use an "Economy System" in class?
I believe that it is a meaningful, hands-on way to teach students how to identify and count money. It provides a purposeful way to teach responsibility, as well as saving money.
How can students earn money?
Students will earn money by:
1. Displaying good behavior daily (remaining on green for the whole day) = (per day)
2. Successfully and neatly completed school assignments daily =(per day)
3. Returning Monday folders, Behavior logs, and Homework folders with parent signatures and completed assignments weekly = (per week)
4. Keeping personal spaces tidy (chair pouches, mailboxes, etc) = (per week)
5. "Caught In The Act" moments-Students can earn bonus coins when they are caught using positive behavior such as helping a friend, using kind words, or going above and beyond their responsibilities during the school day = (per day)
6. Student of the Month (see Student of the Month link on class website for criteria) = (monthly)
When do students cash in their money?
Each Friday students will be given the opportunity to cash in their earnings from the week in our class store. Students will be encouraged to SAVE their earnings to cash in on larger purchases.
If students SAVE money, what types of larger purchases can they cash it in on?
1. Free time on the computer = 40 cent (2 weeks worth of complete earnings)
2. Free pass from one Homework assignment = 40 cent (2 weeks worth of complete earnings)
3. Free time at the file folder station = 40 cent (2 weeks worth of complete earnings)
4. Special snack day = TBA
5. Popcorn/Movie day = TBA
Will money be taken away from students for negative behavior or lack of responsibility?
Students will never have money taken from them. However, they will not earn money for completing a "job" for the day/week.
What happens if a student loses money on accident? Will it be replaced?
Nope. When adults lose money, banks will not give it back to them! You earn it and must be responsible with it. If you place the earned money in your money pouch as soon as you receive it, you will not have to worry about losing it.
How can I help with the school store?
I am always in need of items for the school store. Examples of items that can be donated by parents: "Cool" pencils, stickers, lollipops, individually wrapped candy, hair bows, small toys (from fast food restaurants), necklaces, bracelets, playing cards (kid games), small cars, etc.