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Grades 2–3
Print complete program
Grades 2–3

Rent Day

Preparation

30 minutes

  • Make sure each Banker has copies of the Unpaid rent notice.
  • Have extra bank logs on hand in case they are needed.
  • Have deeds available in case someone is ready to purchase a desk.
  • For the first Rent Day, prepare to show the online Rent Day video to the class.

In class

30 minutes

On the first Rent Day, explain to the students that paying rent for their desks is one of their most important financial responsibilities. It's so important that unless they pay their rent, they won't be allowed to participate in Auction Day.

Emphasize the importance of planning and watching their spending so they'll always have the rent money ready when it's due.

Remind the students that they can escape rent payments altogether if they're able to save up $300 to buy the deed to their desks. Strongly encourage them to do this.

The Rent Day video will help explain the procedures for the first time.

Rent procedures

    1. Each student updates his or her bank log to show the withdrawal of rent money.
    2. The student takes the bank log to the Banker.
    3. The Banker updates his or her copy of the student's bank log.
    1. If the student is unable to pay the month's rent, the Banker fills out an Unpaid rent notice and puts it on the teacher's desk. Once the student is able to pay rent, he or she takes the money to the Banker. Both update their copies of the student's bank log.

On each following Rent Day, ask if anyone is able to purchase his or her desk this month. If a student can do so, celebrate the child and make a show of handing over the deed.

Then, on the next Rent Day, the student can bring the deed to the Banker to show that the account is paid in full and no rent is due.

Follow-up discussion

Paying rent is a strong indicator that students are successful in the classroom economy program. If a student can't pay rent, it is important to get him or her back on track as soon as possible. The Unpaid rent slip is a mechanism to keep you informed about students who fall behind so you can reach out to them. You can encourage these children to participate in more activities so they'll earn enough bonus money to catch up on rent and get in on the Auction Day fun.

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