Asb Getwise Primary Teacher Resource Pack (Page 23 of 46) in pdf

Asb Getwise Primary Teacher Resource Pack Page 23

Activity 8

Creating a cash clever classroom

Activity:

B. Students design a classroom currency that can be redeemed for small prizes or privileges.

When creating the currency students should consider that:

• Money should be relatively durable

• Money should be distinctive and recognisable

• Money should be easy to transport and count

• Money should be divisible

• Money should be valuable – it can be exchanged for goods and services (or classroom privileges)

• Money should be universally accepted

Students can earn money for good behaviour, completing homework and other achievements.

Note: The features of the class currency will depend upon the intended use of the money. For example,

if the currency is merely intended to be redeemed for privileges then the money need not come in

different denominations, however if the currency is intended to be exchanged for different sized prizes

then divisibility may be a required feature of the currency.

C. A class bank

Students can be introduced to the concept of banking, with the teacher acting as a class bank. Students can

deposit class currency that they have earned with their teacher, who keeps it safe. When they want to use

their money, they can easily withdraw it.

Students can discuss the benefits of storing their money in a bank, including:

• It is easy to keep track of your money

• Banks keep your money safer

For more advanced classes, students may fill out a withdrawal slip to access money stored in the bank,

or supply a password to access their money.

D. Saving

Students can practise saving their class currency, and are given incentives to save. Small amounts of

class currency can be redeemed for small prizes/privileges whereas if students save their money, they can

redeem larger amounts for larger rewards. Or students can be directly rewarded for saving, for instance

the student who has saved the most at the end of the term may earn an additional prize.

Learning check:

• Can students discuss and decide on appropriate properties for their class currency?

• Can students explain why keeping money in a bank is better than in their pocket?

• Do students make good decisions about the use of their money?

Asb Getwise Primary Teacher Resource Pack Page 23