School Report - Students Learn Value of Money

1 decade 2 years 7 months ago Friday, June 30 2006 Jun 30, 2006 Friday, June 30, 2006 10:07:51 AM CDT June 30, 2006 in News

As most kids bid farewell for the summer, Hallsville kids bid against each other with their hard-earned classroom money.

"Through the whole year, we mostly had to earn money by being good," explained David Vaughn, who bought a snowboard with his dollars.

The dollar program teaches students responsibility for their actions, such as "turning in their assignments on time," said teacher Sherrie Briedwell. "They can get extra money for doing book reports. If the class is good as a whole, a special teacher, like a music teacher, may give the class money."

Parent Edie Canole added, "It helps the kid to know how much stuff is, how to save the money, because they have to save it all year 'round for this whole thing at the end of the year."

But, students can lose dollars just as easily as they can earn them.

The dollar system also teaches a basic principle of economics: a low supply of DVDs plus high demand raised their price. But, a big supply of soccer balls coupled with low demand lowered their price.

Fourth graders are responsible for checking accounts, including checks that look real. At the end of each month, each account earned 10% interest. Student accounts relied on their school behavior and performance.

"There were a couple of people in our class that would talk a lot, and so instead of just them getting blamed for it, the whole class would get blamed for it," said student Kelly Cobb. "And so they would have to learn how to take care of themselves so the whole class wouldn't get in trouble."

Right choices equal right lessons for a lifetime and, hopefully, those lessons will stick with Hallsville fourth grade students long after this summer vacation.

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