From my book Teaching for Success: A Practical Guide
"Yes I am!"
I start the game by giving the children some script money every week.
I like to use money from old board games the children donate. I put a special stamp on it to avoid counterfeiting and pay them 5 every week.
I pay for any papers that are good. I pay 4 for 100's, 3 for A's, 2 for B's and 1 for any other passing grade. I pay for papers from any other class like music, art or special education classes. I or one of the bankers pay every day. They put my special smile face stamp on every paper after they get paid for it so the class can't be paid for the same paper twice.
They can buy things with the money from my store.
I have a little showcase with cheap or free stuff I collect from book clubs, fairs, friends, etc. The storekeepers take care of that. The children also have living expenses. If they have to leave the room for any reason, they have to pay.
The kids also pay me if they cause a minor infraction in the class. (When a child starts to become a real discipline problem then I revert to my discipline method.)
I hate to give a punishment paper to a child that is just chatting but it's no big deal to ask for a dollar of script money. That usually gets the whole class to be quiet. I will also pay a child I catch doing the right thing. If I see a child that is being quiet while the rest of the class is noisy, I'll give him some money. Just watch the rest of the class quiet down as well. The money game makes it easy to play "Let's Make a Deal".
If you want to change a behavior in a child, make a deal with her. If you never forget to do and turn in all your work on time for a week, I'll give you a 5 dollar bonus. I even got a child to stop sucking her thumb and another to stop biting her nails.
You've got to make the game fun. Use it as a game. If the child isn't really "playing", then have her stop playing. In other words, when they don't seem to care if they lose money for the infractions.
I pick four trustworthy bankers. They make ledger sheets in order to keep track of deposits or withdrawals. They add 10% interest each month. This is a great math lesson. I even used checks.
The children love the auctions. I let them clean out their closets at home and bring in any old toys, games, school supplies, etc., and they auction them off using their script money.
I tell the children at the beginning that it is only a game. If there is any form of cheating, they will automatically be excluded from the game. Some methods in which they can cheat are by stealing money, selling things or favors using the money, by adding money to their bank account, by "borrowing" my special stamp, and I'm sure there may be some ways I still am not aware of.
It's a fun way to keep the class going. I generally start just before Christmas when the "visions of sugarplums" start "dancing in their heads".
It has never really worked with children that are "discipline problems." Even if they can't buy anything from the store or auction. I sometimes have to take the child out of the game completely because it isn't much fun for them if they are not trying to earn the "money."
The game is very good for the child who never seems to get rewarded for his good work day after day. This gives extra incentive to do well.It is also a good lesson for life. If you do well then it is possible to be monetarily well off. Some children can buy whatever they want while others can't.
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