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Over the past few
years, many teachers have e-mailed me with questions about Coley Cash,
my classroom store, and our classroom income
tax. Below are some of the frequently asked questions I've received
regarding my classroom economy, followed by my answers. I hope they're
helpful!
How
do students earn Coley
Cash?
Students earn Coley Cash for displaying good behavior. They can earn
classroom money by following directions the first time, working quietly as
their desks, showing good character, etc. Just as students earn money
for good behavior, they can also be "fined" for poor behavior (persistent
talking, failure to follow directions, etc). I also pay students for doing
their classroom jobs. I have chosen to keep my money system tied pretty
exclusively to behavior, so I don’t pay students for doing homework, doing
well on tests, etc. That way, a well behaved student, even one who
struggles academically, can still thrive in our classroom economy.
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How do you
distribute the money?
My students keep paychecks (Post-Its) at their desk. When students are
behaving appropriately, following directions, etc., I may reward a student
with a dollar in Coley Cash. The students make tallies on their paychecks,
and then at the end of every two weeks, I go around and pay students with
actual Coley Cash. At that time, students have the option of
withholding money to go toward their classroom income
taxes. Our classroom's CRS (Classroom Revenue Service) agent
accompanies me as I pay students and records how much Coley Cash each
student withholds. While I have a pretty good idea of how much money each
student earns, my system does rely greatly on the Honor System. I make it
very clear to my students at the beginning of the year that character counts
in my classroom, and that any student who "steals" money by marking down a
tally they didn't earn will lose the privilege of earning Coley Cash for the
rest of the year. In all my years of teaching, I've never had a problem
with this.
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Do students write
their names on the Coley Cash?
No, because at the end of each trimester, I bring in goodies and students
get to buy something with their money. I then reuse the money during future
trimesters.
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What kind of
things can students buy with their money?
I typically go to Big Lots, the 99 Cent Store, and the grocery store to get
my prizes. Some examples: books (usually from Scholastic Book Club bonus
points), drawing pads, gel pens, marker sets, chess and/or checker sets,
footballs, soccer balls, notebooks, and candy (anything from small candy
bars to big ticket items like a tub of Red Vines). Basically, I’m on the
lookout all year, so if I spot something cheap or on sale that I think the
kids would like, I pick it up and save it for later. As an added
incentive, students who earn a specified amount of money have the option of
purchasing a pizza lunch with me. Typically, only the six or seven
highest-earning students are able to afford this. If a student chooses
to purchase the pizza lunch and still has money left over, he/she also gets
to buy something from the Coley Cash Store
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How do you run your Coley
Cash Store?
I open the Coley Cash Store at the end of each trimester. I bring out all
the goodies for the students to see. These items range from larger, big
ticket items (footballs, soccer balls, tubs of Red Vines) to smaller items
(a packet of pencils, a bag of chips, a packet of gel pens). Every student
gets to purchase one item. The student with the most money gets to come up
and choose first, basically meaning that student will be able to choose the
"most expensive" or "biggest" item. I then go to the student with the next
highest amount of money, and so on.
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Where do
students keep their money?
Initially, students' money is kept track of on the paychecks (Post-It notes)
they keep on their desks. After I have paid them in actual classroom
currency, most of my students keep their Coley Cash in their pencil boxes.
Some students make envelopes out of paper or bring envelopes from home.
They do a pretty good job of keeping track of it, because they know that if
they lose it, they won't be able to buy something at the Coley Cash Store at
the end of the trimester.
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How much money do
students typically earn?
I typically reward students with Coley Cash a dollar at a time. I know that
in some classes, students earn hundreds if not thousands of dollars, but in
my class, the top students may earn $50 or $60 (maybe $70) in a trimester.
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How do students
file their classroom income taxes?
At the end of each trimester,
students must file a classroom income tax return using specially designed
tax forms. For the first two trimesters, the
students and I file their tax returns together. It can be a little
confusing the first couple of times, so I take a good chunk of time to walk
students through how to calculate their deductions, determine their taxable
income, and determine whether they are required to pay or will receive a
refund. For the third trimester, I typically have students complete
their returns either in small groups or independently as a homework
assignment.
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