Why Parents and Teachers Love Our Classroom Economy and You Will Too
Making financial literacy fun and meaningful for kids
Kids Take Charge and Learn Responsibility
Kids Take Charge and Learn Responsibility
Grade 5 Teacher - B.A., B.Ed.
When I taught my classes using a classroom economy, I noticed a massive change in classroom engagement. Students always looked forward to their weekly paycheck and the responsibility that came with it. Having a budget and a job made them feel responsible for not just their own finances, but those around them. Overall attention to detail improved greatly too. A reward tier system for a clean desk, for example, made them feel better because they were finding things quickly for once.
Building Real-Life Financial Skills
Kids Learn Valuable Money Management through Risk and Reward
Grade 6 Teacher - B.A., B.Ed.
I think there is a sense of control that students feel when they are working towards a goal that is not directly controlled by their parents. Kids can put their own mark on their personal finances and have a true sense of risk and reward. During my time as a classroom teacher, I had a system where students could take out a loan from the government (teacher) with interest if they had problems with their mortgage. Later in the year, some students were able to open a classroom business with a loan and become a real entrepreneur. I’ll never forget one student that said without prompting ‘Your teacher government is just like a business because you are making money off our loans! Can my business do the same? Is that what banks do?’ Seeing elementary students actually excited to learn about the banking industry was definitely an eye-opener. The real-world applications are nearly unlimited.
Students Become More Mindful of Their Money
Learning the Value of Saving and Spending Carefully
Grade 4 Teacher - B.A., B.Ed.
Introducing a classroom economy has been such a fun way for students to understand the value of earning our classroom currency through monthly class jobs, valuing and honoring classroom rules, as well as achieving good grades on their assignments and projects. They learn to save and to value the money they have earned. Students become more critical and mindful about how they spend their money and save up for certain perks or items sold in the class. Overall students have become aware of their achievements, find more meaning in being a classroom community, and realize their contributions are valuable.
Parents Love the Life Skills Taught Through the Economy System
Parents See Their Kids Having Fun Learning
Grade 6 Teacher - B.A., B.Ed.
Parents have only had positive views and feedback for this form of classroom management. They have seen the joy that their child has shared with them about this currency concept. Parents are glad that their children are learning the value of money and earning it. In some ways, this has been a non-threatening and easy way for children to learn about money. Parents enjoy that their child is learning life skills alongside all the many wonderful concepts and skills learned in class.
A Picture Book Makes Financial Concepts Fun and Engaging
Visual Learning Helps Kids Connect with Financial Literacy
Grade 4 Teacher - B.A., B.Ed.
I think a picture book is the best tool to explain a classroom economy. Like a real economy, there are so many moving parts that are involved in creating and running one in the classroom. Is a student going to be engaged about learning this system if a teacher just drones on about every last detail? Are they going to want to read about the system if it’s presented in a worksheet or textbook form? Let’s be honest, even adults would be incredibly bored if information was presented in this manner.
A picture book helps to spark a child’s imagination. If a student can relate to the characters and their experiences, they’re going to get far more out of the information being presented. We want students to be excited about the possibilities that the classroom economy holds. Watching Vinita’s journey through the school year gives students a way to conceptualize how the system will work for them in the long haul. The teacher can also refer back to the book as they introduce the different layers of the system. I can’t think of a better way to introduce a classroom economy to students!
A picture book helps to spark a child’s imagination. If a student can relate to the characters and their experiences, they’re going to get far more out of the information being presented. We want students to be excited about the possibilities that the classroom economy holds. Watching Vinita’s journey through the school year gives students a way to conceptualize how the system will work for them in the long haul. The teacher can also refer back to the book as they introduce the different layers of the system. I can’t think of a better way to introduce a classroom economy to students!
