PayGrade as a Simulation
Many middle and high school teachers use PayGrade as a simulation as an addition to a semester long course, with the lesson plans completed once a week. Students choose one of the pre-selected jobs along with the cost of education to attain the job, and other bills they would need to pay (i.e. student loans, rent, food, etc) in order to live. This simulation is a great tool to use along side another curriculum. Throughout the semester, students experience the influx of money or the lack of money that they earn from a job and get some honest perspective on the cost of living. Each job also comes with a set of tasks to help manage the classroom, like passing out papers (Secretary), answering the phone (receptionist), etc.
Lesson 1: How to Roll Out PayGrade Simulation Time Frame: 40 minutes
Learning Objective: Students will be able to define financial literacy and understand how PayGrade.io will function in the classroom. They will also create accounts during this lesson.
Lesson 2: Resume/Profile/Job Application Time Frame: 40 minutes
Learning Objective: Students will be able to identify personal qualities to write a resume. Students will be able to analyze two job applications to determine assumptions an employer might make and complete their own job application.
Link: Job Options to Post
Lesson 3: Job Selection and Budgeting Time Frame: 40 minutes
Learning Objective: Students will receive their job, understand their income and their bills. They will create a budget to make sure ends meet.
Lesson 4: Weekly Check In Time Frame: 5 minutes once a week
or per class period
Students check their accounts, deposit and withdrawal money at least once a week in relation to assignments, being on time and other ways the classroom manages action items. See a common list of items teachers include in their students deposits and withdrawals
--Lessons to teach once a week--
Lesson 5: Your Money Personality & Mind Map Time Frame: 40 minutes
Learning Objective: Students will be able to explore their dominant money personality through a quiz and create a mind map exploring and reflecting on their money personality origins and potential risks associated with their personalities.
Lesson 6: Fraud: Learning 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.
Look Out for More Lesson Plans to Come!