I am excited to introduce my first grade students to our class economy system! It will be a robust classroom management system for students as they learn valuable life skills. Students will participate in a classroom economy designed to expose them to economic fundamentals.
Through their participation, students will:
Ways students can earn money:
Students who are not following our class rules will earn less money for their salary.
How will students keep track of their daily earnings & purchases?
The classroom store is an important component of the classroom economy. Children look forward to buying things at the store because it is a fun reward for all of their hard work. From a learning perspective, it teaches the value of saving because students are eager to save up for larger tangible items (McDonald's Lunch with teacher, sit in the teacher's chair for a week, etc...).
How you can help?
Through their participation, students will:
- Perform specific classroom jobs to earn a salary.
- Purchase items at the school store with the money they earn.
- Pay "rent" at the beginning of each month ($2.00) - starting in November!
Ways students can earn money:
- Assigned weekly job (10 cents per day-$2.00 per month)
- Class Dojo Points (1 cent per positive point)
- Homework (50 cents for homework completed and turned in on time)
- Bonuses ($1.00-Students can earn a bonus or bonuses by being "caught" going above and beyond the classroom expectations without being prompted or asked.)
Students who are not following our class rules will earn less money for their salary.
- Students only earn 5 cents if they break one rule.
- Students earn nothing if they break two or more rules.
How will students keep track of their daily earnings & purchases?
- Students will keep a daily/weekly ledger on how much they earn and or spend.
The classroom store is an important component of the classroom economy. Children look forward to buying things at the store because it is a fun reward for all of their hard work. From a learning perspective, it teaches the value of saving because students are eager to save up for larger tangible items (McDonald's Lunch with teacher, sit in the teacher's chair for a week, etc...).
How you can help?
- Please talk to your child about the expenses that you pay out on a weekly and or monthly basis (rent/mortgage, car payment, groceries, water, electricity, etc...) and how you save your money to pay for these expenditures.
- Discuss the importance of your job and how doing your best at your job is the basis of income.
- Discuss with your child about the importance of needs and wants.