Classroom management is key to a successful school year, however it's hard to engage students in a meaningful way. ClassEquity gives you the power to turn your classroom into a mini-economy, where students take ownership for classroom routines and learn financial responsibility through experience.
What is a classroom economy?
A classroom economy consists of four main components: bonuses, jobs, bills, and a store. All components are fully optional and customizable, so you can create a system that works best for you and your students.
Let's take a look at each piece!
Students can earn bonuses to reinforce classroom values, such as showing perseverance or teamwork. Pro-tip: Co-create bonus opportunities with your students to increase student accountability and build community.
Students can apply to classroom jobs, and earn salaries for their hard work. This helps students take responsibility for classroom routines, practice leadership skills, and take pride in their role. Not to mention, classroom jobs make your life easier 😜. With ClassEquity, students can also submit job applications to practice real-world skills.
Students use their income to pay bills, such as rent for their desk. This allows students to learn delayed gratification, needs vs. wants, and practice budgeting in a safe environment. We emphasize that if a student doesn't have enough to pay their bills- that is okay! They are always welcome in our classrooms, and will never be denied access to resources. Our philosophy is that it is better for students to practice and make mistakes in a safe environment, before they get to the real world with real consequences.
Students learn to budget, set goals, and can use their savings to purchase rewards from the classroom store. Check out our suggested list of classroom store items when you sign up for ClassEquity for free store suggestions.
ClassEquity streamlines the process for teachers, so that you can easily set up your economy, assign jobs, and send transactions with the click of a button. All features of ClassEquity are fully customizable so that you can create a system that works best for you and your students.
Why use a classroom economy system?
A classroom economy system allows you to reinforce positive behavior, target specific actions, increase student responsibility, and create a positive classroom environment. Students feel responsible for their role in your community, are encouraged to go above and beyond, and are excited to save up and purchase rewards from the classroom store. In turn, students are engaged and are validated in their efforts.
On top of simplifying classroom management for teachers, students learn skills that are necessary to succeed in today's world. Three out of four young adults cannot answer basic financial questions, with female and minority populations showing lower financial content mastery relative to male and white counterparts.
ClassEquity provides students the opportunity to learn how to budget, save, spend responsibly, and make mistakes in a safe space. Research shows that students gain as much in financial knowledge in just ten weeks of using a classroom economy system as they would in a semester long personal finance course. Best of all, ClassEquity gives you all of the resources you need in an easy to use, student friendly format.
Questions about how your classroom, team, or school could benefit from ClassEquity and a classroom economy system? Let's chat! Message us below and we'll find a time that works for you.