The 5th grade classes use a class economy system as part of our classroom management. The goal of this system is to teach them accountability and responsibility, while allowing us to give logical consequences for both acceptable and unacceptable choices. Our goal is to give rewards and consequences that have some real life application. Additionally, students will learn the difference between needs and wants as they will be given opportunities to buy items. We wanted to give you some more information about how it works:
On the first Monday of each month, students will receive a paycheck. Their paycheck will be for being students, as that is their main job.
Over the course of the month, they will be charged for being off-task or choosing to act in a manner that is not keeping with our classroom and school expectations. They will also be rewarded with more money for following our rules and expectations.
On the last Friday of every month, they will be charged rent for their desk.
They keep track of their balance on a ledger that is given to them. Great lesson on checks and balances of a bank account.
They have the opportunity to “buy” their desk. Great lesson on ownership. If they don't have money to pay for their desk they will make a repayment plan with the teacher. They will not be allowed to participate in class auctions until they have paid their past due rent. Great lesson on money management.
Once their desk has been bought, they will have the opportunity to buy another student’s desk and have rent paid to them.
With their money, students will be able to buy items from the class auction and occasionally rent my desk and chair. Great lesson on delayed gratification.
We will host auctions every week. In order for a student to sell an item, it must come with an attached note signed by a parent/guardian giving permission for that particular item to be sold. If there is no note, it will not be sold. Please know that we are not expecting anything to be bought for these auctions. It’s a fun way for students to earn prizes and earn more money. Students will be able to buy the goods their classmates are selling. Great lesson on entrepreneurship.
They will have the opportunity to apply for jobs within the classroom. After they have completed their job cycle, they will receive a paycheck that can be added to their balance.
We are all very excited about this economy system, and the students are very motivated by it. Please take a few minutes to talk about it with your student, and feel free to e-mail me with any questions you have.
Mrs. Baird