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Tips for Stash101 users
Tips for Stash101 users

How to transition your classroom economy from Stash101 to ClassEquity

Abby Coyle avatar
Written by Abby Coyle
Updated over a week ago

We're sorry to hear that Stash101 is shutting down, but we're happy to have you here! Shake-ups mid-year can be challenging, so we are putting together resources to make the transition as seamless as possible. Below are some commonly asked questions we've gotten from the Stash101 community.

How do I do auctions with ClassEquity?

We recommend running your auctions IRL, with students bidding for items in person. When students win a bid, just take note of the total amount. Then, you can send them a custom "expense" for the auction item to deduct the money from their account.

✨Pro tip: Have your banker enter in the auction items into ClassEquity so that you don't have to!

Do students need to calculate their balance when you send them a transaction?

Yes, students are required to add and subtract their deposits and withdrawals to calculate their new account balance when sent a transaction. There is not a feature currently to have money automatically deposited into the student account, however, we plan to build this feature in the future. Katie and I both were math teachers, so we had to work in the math reinforcement into the platform :) By calculating their new balances, students make real-world connections to words like deposit and withdraw, acknowledge the real-time feedback you provide them, and practice addition and subtraction without even realizing it!

The balance on your side shows the total amount of money you have sent your students, deposited or not, so that you have an accurate reading of their account balances. On the student side, the students do the math to calculate their new account balance, and if they accidentally enter an incorrect amount, it will give them a nudge to double-check their math. Students need to make all of their deposits and withdraws before they can check out from the classroom store so that their balances are up to date before they spend their money.

✨Pro tip: Use decimals to amp up the math reinforcement!

Can I can give my banker the ability to send my class transactions?

Option 1: Log in to your Teacher account, and let the Bank Manager to do their thing!

Option 2: Upgrade to Pro to add a "Banker" co-teacher. Then, follow these steps:

  1. Create a new Teacher Account with a placeholder email (i.e. [email protected])

  2. Write down the password! (you will not be able to reset password if the email address is not real)

  3. Add [email protected] as co-teacher

    *Note: Co-teachers also need to be under the Pro plan. If you send us a message, we will help you connect your bank managers for free.

  4. Give login information to your Bank Manager. Now, they can send deposits from this account!

    *Note: When you view student activity from your My Classes Page, you are able to see which class the transactions are coming from. This allows you to see exactly what your Bank Managers are sending to each student.

Check out these tips for incorporating a banker job position into your classroom economy with ClassEquity!

Can students send each other money?

No, on ClassEquity students do not have the ability to send each other money digitally. However, just like in the real world, you can allow your students to write "checks" to one another. Have the student turn the check in to you, send a custom expense to Student A to withdraw the amount, and send a custom bonus to Student B to deposit the amount.

My student purchased their desk. How can I remove them from paying rent?

If you have autopay set up:

There is not a way to assign or remove specific bills from individual students. Here is a workaround that allows students to purchase their desks-

  1. Add a "homeowner" position to your job board, and set the salary equal to rent.

  2. When a student purchases their desk, hire them as a homeowner.

  3. Now, when autopay paychecks and expenses send, students will receive a "homeowner" paycheck that refunds the rent bill.

If you do not have autopay set up:

  1. Select all students.

  2. Uncheck the students who have purchased their desks.

  3. Send rent.

Teacher view:

My student purchased a classmate's desk. How can they be paid as a landlord?

Here is a workaround that allows students to purchase other students' desks-

  1. Add a "landlord" position to your job board, and set the salary equal to rent.

  2. When a student purchases another student's desk, hire them as a "landlord."

  3. Now, when paychecks and rent are sent, the "renter" will still be charged rent, and the "landlord" will receive an extra paycheck.

Student view:

Can students earn interest?

There is not currently an automated way to earn interest on money in ClassEquity, but this is a great opportunity for a student job that provides more practice with decimals and percentages! Hire an "Interest Specialist" to issue interest payments to students weekly or monthly to show students how powerful compound interest is!

  1. Determine your interest rate (we recommend 10% for easy calculation or you can choose a more complex interest rate to bump up rigor)

  2. Every week or month, have your Interest Specialist log in like a Banker

  3. Have your Interest Specialist calculate the interest on each student's current balance

  4. The Interest Specialist can then issue a bonus to each student called "<Month>'s Interest Payment"

Pro tip: Keep the timing of interest payments consistent so that students can save up to maximize their returns!

Do you have a "Wheel of Life"?

We love the ability to teach students about saving for emergency expenses and random life events. We do not have a "Wheel of Life," however here is how you can incorporate it with ClassEquity-

  1. Use an online Picker Wheel to enter in the life events, and spin. Example here

  2. Select all students, and then enter in a custom bonus or expense based on what was spun.

Do you have an investment simulator?

We do not, but Next Gen Personal Finance and Rapunzl have awesome simulators that are completely free!

If you have any other questions, shoot us a message via the blue chat in the bottom right corner, and we'll get back to you ASAP! We are continuously building new features and improving our platform, so feedback is always encouraged😊.

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