- Kass Haut
- May 1, 2022
- 4 min read
I'm sure you've heard of it. Paying students "classroom money" to do their jobs, or as a rewards system. And I'm sure you've also heard of how much work it can be. I'm here to tell you that its not only manageable, but a useful classroom management tool for student behaviours and financial literacy.
How Does It Work?
The idea is simple: students get paid a set amount of money for completing their classroom jobs. Each job is worth a different amount of money (in my class, this ranges from $5 to $20 biweekly). The tougher jobs are worth more money, and the easier jobs are worth less.
Students apply for the job they'd like, making points about why they're the perfect fit for the job.If they're responsible enough to handle it, they earn the position for the month. Now, let it be said, I have moved students to different positions if they can't handle the responsibility.
For example, the toughest job I have in my classroom is the "Floor Monitor." These students need to sweep the floors at the end of the day, and pick up anything left on the floor by the other students. So this job earns $20 biweekly, since its a tough one.
As students get paid money throughout the year, they can choose to save or spend it. I bring in the "store" every 2-3 months. The store has items available for purchase - like books, pencils, games, stickers, homework coupons, "sit with a friend passes" and more.
Students can earn money in various different ways as well; being kind, helping out, a clean workspace, doing well at their jobs, etc. Students can also receive fines for leaving a messy work station, or not completing their job for the day.
The only stipulation is that students must pay 'rent' once per month, which is $5. This covers their use of textbooks, chrome books, desks, etc. Because of the need to pay rent, students learn how to budget their money and ensure they've saved enough to pay it.
How Much Work is it Really?
The toughest part of classroom economy is the setup. Teaching students how to do their jobs properly does take time, and so does printing and designing the classroom cash.
Other than that, I hire a banker who takes care of handing out pay checks, and rent. The banker also gives change when needed, or fines if necessary. I also hire the teacher assistant, who assists with the job applications and store setup.
Students do a lot of the work and really bring the magic to life with their jobs and passion for the system. Kids truly do LOVE the idea behind it, and the store is the cherry on the top.
How Do I Get Started?
The first step is the setup. Explain how it works, and explain what the rewards will look like in your classroom. You don't need to bring in prizes or books and spend your money on them - class coupons work just as well.
Then, I give each student a "float" of 7 dollars, so they can get started and practice holding on to their money, and keeping it safe.
Next, you need to set strict expectations and examples for how jobs are completed. I would recommend a checklist for each job, so students can review what is expected when they complete the job.
Assigning the jobs is the third step. I personally like to use a Google Form for students to apply, but I've also used paper applications. Explain that if they write about their skills that apply to the job, they are more likely to be put in that position. I tally up the results and try to put students where they ask to be (or at least close). Have your Teacher Assistant help with this. I post the postings on our Classroom Jobs wall, so they are easy to see and keep track of.
I typically have students keep the same job for a month so its less swapping around.
Tips + Tricks
I have a very financially literate bunch this year. I was actually asked "Why aren't we able to put our money into a savings account to earn interest?" this came from the mouth of an 11 year old.
So naturally, I put in a "savings account" system where students could earn interest for keeping their money saved in a safe place. It was really popular, and kids started investing their money right away. I would definitely recommend putting something similar in place - its a great option for kids who lose their belongings often and teaches them about investments.
I would also recommend a "training day or two," when students switch jobs. I have them complete their old job while they train the incoming employee on how to do their new job properly.
Classroom economy does require some setup. It isn't a one size fits all approach to classroom management. But it is a really useful tool for managing your classroom, and teaching kids about finances - two things which are really important when teaching these days.
(you can find all of my classroom economy tools including cash, job posters, checklists, coupons and more here!)