The sixth graders of Bristol Bay are going to be learning a lot of useful life skills this year as they take part in a token economy. Money management is a vital skill for every adult, so why not start practicing at eleven? Thanks to www.mykidsbank.org, our kiddos will get TONS of practice. On the site, I have set up a classroom bank where each student has an online bank account that can be accessed from any computer. Parents will be able to access the accounts to see the credits and debits their child has earned. Each student will start the year with a balance of $15 and will earn a salary of $4 a week (with $1 being deducted from the salary with each detention, eek!) Students can also earn money by turning in assignments on time and holding a classroom job. Debits will be given for classroom misbehavior, late assignments, and missing materials. And don't forget the rent! Desk rental is $10 a month.
With the money students earn, they can purchase passes to use in the classroom or small prizes from the Shopping Shack (again, we have a beach theme this year). As the year goes on, I would like to add some large prizes so that students learn to save for things they really want. I am very excited about getting this started, and I truly believe the students will get a lot from this experience. Take a look at www.mykidsbank.org to see how you can incorporate it in your room!
Awesome idea!!!!
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