Class Money

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Home : 2004 : June : 13

Class Money
By Chris

I have used classroom money for my discipline plan for the last two years and love it! What's more, the kids love it! I create 5, 10, 20, 50, and 100 dollar bills based on whatever the classroom theme is for the year (I
did oceans one year and jungles one year...this coming year I'm doing a sports theme.) Each deonmination is printed on a different color of paper so it is very easy to identify.
The students can earn rewards for turning in homework early, turning in forms on time, transitioning early, demonstrating good citizenship, etc. This is really the teacher's discresion so they always have

to be on their best behavior because they never know when I will reward them.
They can also be fined for things such as no name papers, breaking class rules, talking in the hall, leaning on walls, etc. Really, this can incorporate any behavior that you are wanting to change. More "rules" can be added as the year goes on if you happen to notice a problem. When I fine the students they must give me $10 on the spot. If they do not have $10 (which happens pretty rarely) they must owe me 10 minutes of recess.
My students each have a bank account. I ask them to keep at least $30 with them so that if they get fined they don't have to withdraw. They are only allowed to withdraw or deposit when our class banker opens the bank (which is after 3:00 on Fridays only).
The class can use their money throughout the year to buy certain things...
$50 Treat from the treat jar
$75 Tiger Den Award
$100 Positive phone call home
$100 Sit at the Teacher's Desk for the day
$100 10 minutes computer/reading time
$150 Lunch with the teacher (I buy them a can of soda and we eat lunch in the room.)
I really encourage the students to save up their money throughout the school year because on the very last day of school we have a class auction. I go out and spend about $30 on prizes from Walgreens/Walmart/etc. These are things like slinkies, puzzles, books, mini fans, etc. I really don't spend over $2 on anything. I also auction off things from the class that I won't be using the next year due to our theme change. For example, this year I auctioned off our jungle bean bag chairs since I knew I'd be doing a sports theme this year. Some of my students had saved $1,400 so naturally they got their choice of items at the auction since no one could outbid them. I do make sure that everyone has at least $30 the last day so that everyone gets something to take home over the summer. I also start each child with thirty dollars at the beginning of the year.
I have to say I love this system because it allows me to focus on the positive behaviors, eliminates behaviors that I don't want, and teaches the kids some financial responsibilities. I hope this helps!