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At the end of the school year, it is my goal to have every student understand how important it is to save and budget for success.

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Teaching Financial Literacy Through a Classroom Economy

School:
John Hopkins Middle School 
Subject:
Language Arts 
Teacher:
FTBS-Charnita Davis 
Students Impacted:
130 
Grade:
Date:
August 16, 2016

Investor

Thank you to the following investor for funding this grant.

 

Arthur Family Foundation - $700.00

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Goal

At the end of the school year, it is my goal to have every student understand how important it is to save and budget for success.  

 

What will be done with my students

Classroom Economy is a wonderful tool that can be utilized in ANY content area classroom. Although on the surface it looks as though it serves as a behavior management tool, CE is much much more than a tool to reduce negative behavior. Students are required to apply for jobs; along with gathering recommendations from other teachers. When selected for a job, students will receive a monthly salary to help with the monthly desk rent and electricity bill.

However, this may seem easy enough, their salary does not match or exceed their amount of monthly bills. Therefore, students must become entrepreneurs and/or complete extra in class requirements to ensure they have enough money to pay their monthly bills. With the money left over, students can either save their money to buy out their desk (become rent free) or save to participate in the class action at the end of the month.

At the end of the year, students will be presented with awards for the best savers in the class.
 

 

Benefits to my students

Classroom Economy will allow my students to understand how important it is to be financially literate. Along with understanding that most times our financial wants may not line up with our financial needs, we have to focus first on our needs. In middle school, this is a hard concept to teach. Also, this system that is being implemented into my classroom, will allow students to have a large stake in the day to day classroom activities.  

 

Describe the Students

My students range from low-level students (including ESE) to advanced. Therefore, this grant will benefit students at ALL level. 

 

Budget Narrative

Start up supplies include organizational bins, cash drawers, individual student wallets (plastic coupon holders), clipboards for fine officers and bankers, printer paper (to print money and paper auction materials) etc.

Year-long auction supplies include items such as fun school supplies, small budget gift certificates, entertainment items, etc. The allocated amount of money will last for the entire school year.  

 

Items

# Item Cost
1 Start up Supplies $400.00
2 Year Long Auction Supplies $600.00
  Total: $710.00

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