April is Financial Literacy Month, so it’s a perfect time to introduce a classroom economy system. This program makes a great reward system and teaches students how to manage money. I’ve also found classroom economy systems to be very motivating for students. Several years ago I created this free Classroom Economy Pack, a resource that includes money patterns and a bank transaction record to use when setting up a classroom economy system. In this freebie, I describe several ideas for implementing a classroom economy system, but my favorite is the Class Auction.
Each week I paid students for their class jobs with classroom money, and at the end of every quarter, the students brought in items from home to auction off. Here you can see them gathered around our carpet area where we spread out all of the items to auction off. At first I was the auctioneer, but then my students would take turns in that role. Those auctions were crazy and fun, and everyone walked away with a little something!
If this strategy sounds intriguing, download my free Classroom Economy Pack and give it a try in your classroom. Your students will love it!