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Payday

Preparation

30-60 minutes

Write a paycheck for each student, or ask the Clerks to write them.
Make sure there is enough cash in the Central Classroom Bank for the bonuses you're awarding.
Have extra bank slips and bank logs on hand in case students don't have them in their folders.

In class

30 minutes

On the first Payday, you'll need to explain how the process works. The steps with accompanying images are below.

Payday procedures

The Clerks hand out the paychecks.
You distribute bonus money to students who have earned it. Use the honor system when appropriate (e.g., you might ask "Who participated in the school chorus this month?" and reward those who raise their hands).

Each student completes a bank slip.
Each student updates his or her bank log with the amount of the paycheck and any bonus money received.
The student takes the paycheck and the bonus cash (if any) to the Banker.

The Banker updates his or her copy of the student's bank log.
The Banker places the paycheck in the paycheck envelope within the banking folder.

Tip:

Each Banker should keep about $2,000 in the bank folder at all times. The Banker should deposit any additional cash in the Central Classroom Bank through the Class Banker.

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