Earning Income and Paying Bills

1. Teach students basic economics in your classroom by having them earn money by doing specific Jobs in the classroom. Students are responsible for paying bills and will need to save their money to do so. Payment of Bills and payment for $ earned can be determined by the teacher and students before the system goes into effect. After all bills have been paid, students may use the leftover money to purchase items from the classroom store. Teacher may use the list of Rewards to create coupons as items to be purchased at the store. This works well on neon paper and can be re-used many times if laminated. (N, CCT, IL)
   
2. In Social Studies students can Match a Country to Its Currency. This could be done by cutting and pasting or matching the currency with the correct country using numbers. 1, 2, 3, etc. (N)
   
3. Have students decide on items that they would like to buy. Decide as a class how much money they are allowed to spend. Cut out pictures using magazines, catalogues and flyers of the items chosen. Glue pictures onto paper.

Discuss:

a) Did you have enough money?
b) Is there any money left over? How much?

4. Invite coin collectors and bank employees to talk to your students.
   
5. Have each student design a new coin for Canada. Write why they chose the symbol they did and how much their coin is worth. Research first.
   
6. Cut cards from construction paper. Use flyers cut out pictures and glue onto each card. Use coin stamps/coin stickers to indicate the value on the back of each card.
   
7. Provide students with opportunities to spend money:

a) garage sale
b) hold an auction
c) bake sale etc.

Use money made to purchase something for the classroom.

8. Have students make a dictionary using money terms.
   
9. Make a Pig Log. Have the students write one entry per day in their logs using the Journal Writing Activities. (N, CCT, PSVS)
   

10. In language arts have the students choose a Money Saying. Illustrate and share an oral/written explanation.