Classroom Economy

My wonderful teaching partner, Mrs. Simon, introduced me to her classroom economy a few years ago.  After avoiding it and pushing it aside, I finally sat down and implemented it in my classroom...and I am SO glad I did!  It is such a motivator for my students, is very little work for me, and teaches some great concepts (budgeting, responsibility, math skills, and teamwork -- just to name a few)

How It All Works

When the students enter the room, they begin to earn classroom cash for performing their job as a student.  Just as I earn money to teach (although I do love it, I also get compensated for it), the students earn money for getting to school on time, turning in homework, being on task, and performing classroom jobs.  They also earn money for proper behavior (in the form of getting green cards, table points, etc...). 

In turn, students will also lose money for being off task or neglecting their student duties.

One of the classroom jobs in my class is that of a banker.  It is these two responsible students who take care of all payments.  When they walk in at the bell, they immediately go to the bank box and get the money to pay those students who are SITTING IN THEIR SEATS WORKING.  They do this silently, and without disturbing me at all (I am taking attendance and then calling my first small group for the day) Bankers also take care of payments for classroom jobs, behavior cards, as well as collecting monies owed because of bad behavior or other infractions.

Keeping Track of it All

Click here for the register document.

As the students earn (or spend) money throughout the day, they record their credits and debits in their check register.  At the beginning of the year, we spend a few math periods going over the ins and outs of inputting information into their registers.  I periodically check the registers to make sure the total in our bank as well as cash in hand matches their register total.


The students receive their weekly pay each Friday.  The banker opens the bank and gives each worker their weekly salary.  The students then have the option to visit the General Store, where they can purchase Homework Passes and Bathroom Punchcards.


Students also balance their checkbooks and make sure their cash in wallet matches their register total.

 What is the Money Used For?

Click here to see my Earnings, Fines, and Fees charts

Just as in real life, there are debts to be paid in the classroom.  Students must "pay" each month to rent their desk, chair, and pencil box from me.  They also pay a text book "fee" at the beginning of the year.  When students need new pencils, glue sticks, folders, or any other school supply, they can "purchase" these items using their classroom money. 

There are also privileges that may be purchased.  Once a week, during Payroll Pay Day, the merchants open "Mrs. Moorman's General Store."  In the store are items such as Homework Passes, Bathroom Punchcards, and Computer Use Passes.  There are also small treasure chest items that may be purchased as well. 

At times, students may be fined for inappropriate behavior.  Students who do not turn in their homework, are misbehaving, or are generally off task, must pay.  Students who wish to use the bathroom, may pay to do so.

What Do You Need To Get Started?

These are the things that I use for the Classroom Economy in my room:

*  Play money (I got these as a grant from Donors Choose....in the past I copied some play money from my daughter)
*  Wallets for the students (again, this year, I use some from a Donors Choose grant.  I used plain paper envelopes in the past)
*  Money Till to house the money.  I got mine at Staples.
*  A list of Fines, Fees, and Earnings

For more info on how I run this, see these posts:

The Jobs
The Store