PayGrade as a Classroom Management Tool
Many classrooms use PayGrade.io as a classroom management tool.
Many elementary teachers and middle school teachers use PayGrade to help reinforce positive behaviors (PBIS model) and help create a mini society where everyone does their part to make the community successful, and in the process, learn some important money skills. This is how I used the software in my classroom. Students would have jobs, pay their rent on their desk, pay their bills (wifi, electricity, water, trash, and chair rental) and then with their left over money they could save it or use it in an auction.
Follow the lesson plans to set up the classroom economy or to teach specific financial skills to your students (i.e. the purpose of insurance, buying a new or used car, etc).
Lesson 1: Introduction to PayGrade.io & Read Aloud Time Frame: 30 minutes
Learning Objective: Students will be able to define financial literacy and understand how PayGrade will function in the classroom through a read aloud.
(Books were written prior to PayGrade's rebranding - just substitute PayGrade for BoulayBank)
Banco de Boulay (Read Aloud in Spanish)
Parental Consent Form: Pass out to students during the first lesson to share with parents information about the site.
Lesson 2: Profile & Resume Set Up Time Frame: 10-15 minutes
Learning Objective: Students will be able to identify personal qualities to write a resume.
Lesson 3: Apply for a Job & Optional Interview Time Frame: 15-20 minutes
Learning Objective: Students will be able to leverage personal skills and experience to fill out a job application.
Lesson 4: Action Items- Bonuses & Infractions Time Frame: 10 minutes
Learning Objective: Students will be able to define bonus and infraction, relate it to the real world and understand how to use it in relation to PayGrade.
Lesson 5: Bills & Assets: Renting vs. Owning Time Frame: 5-7 minutes
Learning Objective: Students will be able to explain how life costs money and the advantages and disadvantages of renting versus owning a home (your desk).
Lesson 6: Checking vs. Savings vs. Credit Accounts Time Frame: 15 minutes
Learning Objective: Students will be able to compare and contrast savings, checking and credit accounts by analyzing pictures to help determine meaning.
Lesson 7: Cash! PayGrade Bucks & the QR Code Reader Time Frame: 10 minutes
Learning Objective: Students will be able to install and deposit cash (Insertyourschoolnamebucks) into their accounts using a QR code reader.
Lesson 8: Purchasing a Car/Mode of Transportation . Time Frame:3 - 30 minute sessions
Learning Objective: Students will be able to research and buy a car on PayGrade while learning about interest rates and taxes.
Lesson 9: Life is a Game of Chance! Time Frame: 10 minutes once a week
Learning Objective: Students will be able to experience spontaneous situations in life that cost money and others that bring in money and begin to see the value of insuring against these situations.
Lesson 10: Auction/Reward Day! Time Frame: 20-30 minutes
(Once a month)
Learning Objective: Students will be able to save or spend their left over money on Reward day items and experiences.
Link: Auction/Reward Day!
Lesson 11: All About Fraud: Learn How to Protect Yourself Time Frame: 40 minutes
(+5 min each day for week prior to lesson)
Learning Objective: Students will be able to explore different types of fraud, how better to protect themselves from criminals and what to do if their bank account has fraudulent activity.