The ability to balance cash and electronic payments is an important financial skill. Incorporating paper money alongside ClassEquity is a great way to boost real world learning opportunities and help streamline your classroom economy.
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How to Use Paper Money with ClassEquity
Quickly give out cash bonuses
Use paper dollars to give bonuses on the fly. Simply cut and pass out as you please!
Students are responsible for holding on to all paper money, as they would be with cash in their wallets.
Pro tip: Allow students to deposit their cash into ClassEquity by turning in a bank slip. To transfer these paper dollars to the online platform, you can issue a custom bonus with the title "Deposit" and the amount equivalent to the cash you are collecting.
Deposit and withdraw cash
Deposits: Allow students to deposit their paper money into their bank account. Students turn in their paper cash along with a bank deposit slip so that you can easily send them a custom digital bonus when most convenient.
Withdraws: Allow students to withdraw money from their bank account to have cash on hand. This allows students to easily pay fines on the spot or purchase items from the class store with paper money. Simply send a custom expense with the title "Withdraw," and give them the cash value of the withdraw.
Hire a student "Banker" to be in charge of deposits and withdraws
Creating a "Banker" role not only introduces students to real world job opportunities, it takes more off your plate and helps your economy run itself.
Do you use paper resources along with ClassEquity in a different way? We'd love to hear from you! Shoot us an email at [email protected] :)