Classroom Economy

I am excited to report that today we started a "Classroom Economy". Here is the letter that I shared with the students today:

Dear Class,

Starting today you will get to earn, lose, and spend play money in our classroom economy.

If you perform your job and responsibilities, you will be paid at the end of each week. If you miss your job due to anything but an absence, you will be docked pay for that day. You may be docked an entire week, depending upon the circumstances.

After balancing your books at the end of each week, students “in the green” will be paid and can purchase items from the rewards list!

If you’ve entered into debt (in the red), you will have to do various activities in the classroom to earn money and get “in the green”.

Good luck!

Mrs. Gibbs

Here are the "Earnings", "Fines", and "Expenses":

Activity                                                   Earning

Arrive to class on time	$1.00
Following lunch rules	$1.00
Reading log complete and at school each day	$1.00
Returned forms next day	$3.00
Classroom job	varies
Spelling Book at school on Fri.	$3.00
Using Kind Words and Treating Others with Respect Each Day	$1.00

Classroom Jobs

Activity                                                   Earning 

Attendance	$5.00/ week
Lunch Helper	$5.00/ week
Hand Out Helpers	$4.00/ week
Pencil Sharpener	$2.00/ week
Calendar	$5.00/ week
Chair Detective	$3.00/ week
Pick a Pizza	$3.00/ week
Board Eraser	$2.00/ week
Clean Up Helper	$3.00/ week
Classroom Library	$3.00/ week
Classroom Supplies	$3.00/ week
Caretaker of Wildlife	$2.00/week
Hallway Police	$5.00/week

 Fines

Activity                                                   Fee

Inappropriate language/behavior/hands on others	$5.00
Not following lunch expectations	$4.00
No name on assignments	$3.00
Calling out during class (not raising hand)	$1.00
Damaging materials	$5.00
Messy desk	$1.50
Not tucking in chair	$1.00
Forgetting materials at home (Agenda, Library books)	$2.oo
Personal belonging found on the floor (except outdoor shoes)	$5.00 each
Not following instructions and routines	$2.00

Expenses

Rent is due at the beginning of each month unless you work out another arrangement with your Teacher. *Our rent will be due on the 17th of each month.

Activity                                                Fee

Desk rental	$5.00
Chair rental	$4.00
Coat hook rental	$2.00
Classroom rent	$8.00
Sharpener rental	$1.00
Extra pencils, pens, erasers	$2.50
Glue stick and scissor rental	$1.00

Every Friday afternoon we will "balance our books". Students will use this chart to determine what they have in their "bank account"

_______________________________________________’s Bank Book

Transactions	Withdrawal	Deposit	Balance

Rewards:

After balancing the books students may wish to purchase a "reward". They will need to ensure that they can still pay their "rent" for the month before they can purchase. It will take some time for students to save their money. Here is an example of some of the rewards and costs. I am always open to new ideas for rewards! 

Rewards

Item                                                         Cost

         

One Week off from Reading Log	$50.00
One Week off from Spelling	$50.00
Write with a pen all day	$40.00
Sit Where-ever you want for a whole day	$35.00
Wear a hat all day	$35.00
Choose the DPA Activity	$30.00
30 min of FREE TIME	$50.00

This program was created by Mrs. Garlow who teaches the Grade 2/3 class across the hall! We have adapted it to meet the needs of our class. I am so excited to try this out because I see so many benefits:

-it helps with classroom management

-teaches real-life financial literacy skills

-extra math practise with addition and subtraction

If you have any questions or comments about our new "Classroom Economy" please do not hesitate to contact me!