The students in our class had to apply for the jobs that suit us. Some jobs even needed a letter of reference from an adult. One of the most important jobs in the classroom economy is the banker. There are three bankers in the class and the way it works is each student has an assigned banker. Students get paid in classroom money for things like getting 90-99%, or 100% on test, doing safety, getting compliments from teachers, joining an extracurricular activity, and participating in school events, such as pep rallies and assemblies.
We can also get fined (from the police officer and our teacher) for things such as not pushing in our chairs, dishonesty, off task behavior, being unprepared in class, having no homework, having a messy desk, excessive talking, and rudeness. If we get fined or get a bonus we take the money, or check(s), and we have to fill out a deposit/withdrawal slip and take it to our assigned banker. The banker will then give students the amount of money needed or just simply put it in the bank log for the client. But, the bankers must finalize everything by signing each document.
The way my fellow banker and I organize our clients’ checks, fines, loan applications, and money is we to use an accordion style coupon holder which has several sections and is the perfect way to keep everything in one place. We have paydays and our meteorologist tells us when they are coming up. On payday we get one of our two checks for the month.
At the end of the month we have auctions. This is when you bid on items that you want to buy. The auctions are awesome because there are really cool items and sometimes we even have surprise bags filled with mystery items! One thing we have to be conscientious of is that rent is due the next day. Rent is $1,000, and we have to pay rent each month for our desk. You can also buy a desk, which is $3,000. We really have to work hard and do our best if we want to earn that much money.
Of course, there is always the option to get a loan from the loan officer if you’re in the sticky situation of paying more than you have at an auction or just don’t have enough money for rent. But, you have to pay 20% interest. If you are in debt (owe money) you have to pay that back to a zero balance, plus pay 20% of how much you needed from the loan officer, which then goes to the bank.
This is one of the most fun class projects I’ve ever participated in. I’ve learned that I have to be responsible with my money and know the difference between needs and wants. Also, I prepare not just to be on task for a reward but to work harder and earn more. And, if I make a mistake or am not prepared, I will pay the consequences. I am especially grateful that I have had the opportunity to be a banker, and I can’t wait for what else is to come out of the classroom economy!
Classroom Economy based on the Vanguard Group, Inc. myclassroomeconomy.org