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Goal

Through implementation of Vanguard's "My Classroom Economy" students will learn how to balance a budget understanding income and expenses while applying math skills in the classroom environment. Students will be more prepared to earn/save/spend money outside of school. Smooth classroom management for more effective learning as well as cooperation and team building will be anticipated by-products of Classroom Economy. 

 

What will be done with my students

The students will apply for and be offered classroom jobs. They will earn a monthly salary for jobs and bonuses (ex. for service learning or additional responsibilities )with token money or paychecks. They will fill out deposit and withdrawal slips. They will mainting accurate bank and rent logs. They will pay rent for their desks. There will fines to pay for consequences for unmet classroom expectations (ex. returning a classroom library book on time) At the end of the month, after they pay all their bills, they will be able to bid at auction on various items provided for by this grant. One day per month the students will develop a monthly budget based on income, expenses and goals set for bonuses and fines. Bonuses are necessary because regular salaries do not cover the monthly expenses. Students will need to reflect on prior month's budget fill in actual income and expenses to determine what changes are necessary to meet all bills and fines the following month. Students will be able to set short and long term goals. After banking there is an auction where students can bid on items with token money they want to spend. 

 

Benefits to my students

Students will learn how to keep track of their earnings, how to budget and save, how to get letters of recommendations, how to be responsible for committments and how important it is to provide services to community organizations. This program instills basic financial responsibility as students apply their math skills in a real-world context. Students invest in the classroom community as their jobs contribute to the smooth, efficient operation of the classroom. 

 

Budget Narrative

All of the items are for the monthly auctions. I have 3 classes. The gift cards will be from places such as McDonald's and Chick-fil-A. The other items purchased each month are mechanical pencils and colored pencils. This was the concensus from students for what they would like to bid on at auction. 

 

Items