Classroom Money

Reward System in the Classroom?

I encourage teachers to have a monetary reward system in their classroom. Teachers get a pay check every month, why shouldn't their students, even if it is mock bucks. You can easily find money at the Dollar stores but it is often costly due to the size of our classes. I found it easier to become my own treasury and create the money value that was appropriate for the grades I was teaching. 

One day I was teaching base 10 math and it dawned on me that my monetary system should be the same. If you want to save time, you can purchase the classroom money I created from my TpT Store. Just click on this link.

Note: I learned early on to let parents know that you are running an economic system in the classroom. Give them the choice to opt out for their child. This will save you many headaches with parents complaining that you are being punitive.

The steps to creating a Class Economy:

5. Student earn a daily income beyond their job title. My students earned a $100 every day they showed up on time. You could also include homework.

6. Weekly bonuses could include turning in forms, having an administrator/another teacher compliment a child or the whole class.

7. I would also get my money out and purposefully hand money to students that are modeling appropriate behavior (usually the student sitting next to someone who's behavior I want changed) and then acknowledging the student who modified their behavior. I explicitly state why I am handing a student the money. "Thank you Ray for putting down your pencil and focusing on me while I give directions." The money flows pretty freely during the first few weeks of school.

8. All students get the first month free rent. After that they must rent their desk. Upper grades were charged $2000 per month. Lower grades were charged $200 per month. If the students did not have enough money for rent, they must get a second job. I let the student come up with the suggestion for how they would like to earn enough money to pay the rent. Parents always are amused when their child comes home complaining that they had to get a second job to pay the rent!

9. The last component that I implement are taxes. There were always the safety taxes like rocking in your chair and holding the scissors, when walking, with the sharp end pointing up. The students understood these very easily. About a month into the school year I would implement the taxes for the things that annoy you. They are different for every teacher. We talk about our pet peeves and I would point out mine. I let the students know that I would tax for these behaviors like not putting their name on the paper. I always had a chart of my pet peeves posted.

New Students: Every time we a new student arrives, we review our economic system. To be fair, we average the richest student's cash on hand with anyone who volunteers how much money they have and this becomes the new students cash on hand.


Suggested Classroom Job Titles

The paychecks are based on 3rd through 5th grade. (Lower grades were modified down a place value)

High Paying Jobs:


All of the following jobs are paid $200 per week:


Sample Parent Letter