Money Management and Duck Tape Wallets

This past school year was the first year that we used the math common core.  Money is no longer taught in first grade with the common core.  This makes money a big deal in second grade.  That being said I have decided to use a money management system next year to give the students increased exposure to money. I think it will also be very motivating for them.  I hope that it will not only increase motivation but responsibility as well!

Students will earn money for things such as setting a good example, working hard, doing an exceptional job on an assignment, helping a fellow student, helping me, cleaning or organizing without being asked, following directions perfectly, etc. 

As far as behavior goes students who are misbehaving will first receive a warning.  If they do not comply after a warning they will owe me 25 cents.  Following the fine if they still do not comply they will owe me another 25 cents and will fill out a "think sheet" that will then be sent home to be signed.  Following a "think sheet" there is another 25 cent fine and a missed recess.  If students are still misbehaving there will be a phone call home accompanied by another 25 cent fine.  

To increase responsibility there will also be fines for the following:

Leaving your desk messy -10 cents

Turning in homework late or not turning it in -10 cents

Not turning in your reading calendar - 10 cents

Not having the required minutes on reading calendar -10 cents

Talking or running in the halls - 10 cents

Stealing someone else’s money: ALL YOUR MONEY

As I was working on the management plan the other day I decided that it would be cool to make the students duck tape wallets to keep their money in!  They will keep the wallets in their pencil boxes.

I easily found a YouTube video done by a young girl that taught me how to make them.  You can check it out:

Here are my supplies:

I made two different styles.  One for boys and one for girls:

Here are the insides:

Here are the tickets that I will print on red paper and laminate.  I will then place them on students desks or hand them to them.  They will then come and pay me when they are doing independent seat work, so as to not disrupt the class during a lesson.  

How to use money management for small groups:

I assign table group points for the table who is in listening position first or to table groups who are all working hard.  Tables who have their books out first or tables who are all cleaned up also get points on occasion.  I keep track of the points on the board.  At the end of the week the students at the table with the most points will each receive a quarter.  

How to use money management with whole class:

When the whole class is being good or when they receive compliments in the hall I will award them money.  We will keep track of it on the board.  I will also take away from it when the class as a whole is not behaving.  At the end of each quarter when we are able to buy prizes (I will divide the amount of class money equally among the students and distribute it).

We will see how it works.  I think that the students will respond very well!