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We appreciate hearing from teachers, principals, superintendents, and others interested in financial literacy. Please submit any comments or questions and we will respond, if needed, within two business days. We will not share your information with third parties. Thank you!

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Grades 2–3
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Grades 2–3

Advanced Modules

Teachers who are comfortable with the classroom economy may want to include some of these additional modules to enhance the learning experience for their students. These are not recommended for teachers implementing the program for the first time. Be certain your students understand the underlying curriculum components before adding these modules.

Increased recordkeeping

You may wish to increase the amount of paperwork students handle. For example, students can sign a rental agreement on Opening Day and a job offer letter on Job Assignment and Training Day. Or they can fill in a rent log on each Rent Day and bank slips for every withdrawal and deposit. With such activities, the students take on more responsibilities and learn to pay closer attention to details. The records can also be used as teaching points during the Year-End Wrap-Up and throughout the program. Such features can be adapted from our 4th and 5th grade program.

Real estate investments

Taking property ownership a step further, allow students to purchase the deeds to other students' desks. In this situation, a student whose desk is purchased now pays the rent to a landlord instead of the bank. We recommend you insist the rent remain at the bank's original price so that students can't force students out of their desks by driving up the rent too high!

Taxes

Students are required to pay a flat rate for income taxes around April 15. You can also give students tax deductions for charitable contributions—either by donating classroom dollars or by donating time to actual community service events.

Inflation

Following a break in the school year (examples: winter or spring break), raise the prices of students' desks based on inflation. You can also raise their salaries, but we suggest you raise the price of the desks more than any salary increase to stress the importance of saving and outpacing inflation. For example, you can raise desk rental fees by $10 and all salaries by $5.

Student auctions

Allow students to bring their own items to be sold at the auctions. Require the students to pay a small fee, such as $5 or $10, for the privilege of selling one of their items. This helps students to understand vendor fees, which are common for internet commerce sites such as PayPal, eBay, and StubHub.

Disaster relief

Require students to pay a fixed amount ($10 for example) for disaster relief. This can be especially effective if you are studying disasters in science or social studies. For example, if you are studying hurricanes in science class, you can pretend there is a hurricane in your classroom and everyone must pay to fix the damage.

Emergency funds

Help students prepare for their future by establishing an emergency fund. Assist the students in determining their monthly expenses, and then encourage them to build a nest egg that is greater than or equal to that amount. The overall purpose of this module is to teach students the importance of saving in a liquid investment such as a bank savings account, so they are prepared for unexpected situations that can occur in life. By building an emergency fund, students will be prepared to pay their bills, even if they do not receive bonus money or if they lose their job. Keep in mind, anytime students use their emergency fund, they will have to devise a plan to replenish it.

Insurance

Require your students or offer them the option to buy renter's insurance on their desks. With the insurance, the students are given special benefits. Some of these may include:

  • Being able to participate in the auction if they cannot pay the entire rent amount
  • Avoiding messy desk fines.

Interest

Allow students to accrue interest by purchasing certificates of deposit (CDs). We suggest paying $10 in interest for every $100 the student holds in a CD.

Insurance simulator:

What's the damage?

Generate

Insurance costs:

One-time yearly payment of: $1,200
or monthly payments of: $200
X

Insurance simulator:

What's the damage?

Generate

Insurance costs:

One-time yearly payment of: $1,200
or monthly payments of: $200
X