Why use tokens at all?

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Why use tokens at all?
By gina

I have a great classroom economy going, and it doesn't require ANY physical tokens. All payments are made into their bankbooks, and withdrawals, likewise. Go to a friendly neighborhood bank and ask for cheque registers. There
are places for students to write the date, the reason (eg. finished all work today - for a deposit, or talked too much - for a withdrawal). There are appropriate places to list the deposits and withdrawals, and, of course, a place for the current balance. About once a month, I set up the Store and students buy things using withdrawals from the cheque book. No tokens needed. I love the

system, and so do my classes. I used it with grade 4s last year and am using it with grade 5s this year. If needed, let the students use a calculator - they love it, and it is easy practice for them.
I really encourage you to try this system. Even with grade 3s, if you keep the amounts easy ( multiples of dollars $1, $2, $3...$10 rather than dollar amounts with coins $1.25) they will come to love it. As for how much to pay them, if you worry about them getting too far ahead and making it difficult to supply items for the store that don't cost a fortune, set your store amounts high. For example, a simple shiny pencil that I can buy at the dollar store for (10/$1) costs the students $25 to $75 depending on how fancy it is. They still buy them, no matter what price you will set.
Gina