Kids look forward to payday at Garden Springs

Author: Tammy Lane • First Posted: Monday, September 27, 2010

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After working for two weeks, the youngsters cash their paychecks at the community bank. Each gets $100 in play money.

After working for two weeks, the youngsters cash their paychecks at the community bank. Each gets $100 in play money.

After working for two weeks, the youngsters cash their paychecks at the community bank. Each gets $100 in play money.First off, the kids must pay taxes and mortages. Insurance, for $2, is optional."It helps them understand that resources are finite," said Julie Stivers, who volunteers in her son's classroom and helps set up their store. "One good lesson is that things always cost more when you total them up!" The youngsters add up their purchases as they shop and make change as the store cashiers. "It helps their everyday math skills," said parent volunteer Diana Crockett.

Every other Friday is payday for kids at Garden Springs Elementary who are picking up the basics of earning, spending and saving money.

Jennifer Salsman’s class of second- and third-graders is catching on quickly.

“You don’t have to spend all your money at one time,” as one 7-year-old girl explained. “Last time, I only bought one thing.”

Salsman has developed a miniature economy complete with jobs and a store, where the kids can “buy” trinkets like Silly Bandz and services like lunch with their teacher. They even have to pay taxes and mortgages on their desks, with insurance as optional.

“On Monday we pick our jobs and do them for two weeks until the store opens,” said a 7-year-old classmate.

The boy, who served as bathroom monitor in the last rotation, said everyone gets $100 in colorful play money. And all the students keep a credit and debit notebook to record their transactions.

“It comes full circle when they realize this money does have value and it’s important to make good choices,” Salsman said.

While she carries on with the day’s lesson, parent volunteers set up the store in the pod’s common area just outside her classroom. After cashing their paychecks at the community bank, the children shop in small groups. The kids also take turns as store cashiers, totaling up purchases and making change.

“It helps us be grown up and shop like a real person,” added a second-grader whose most recent job was IRS agent.

When Salsman first launched the project, her students went through the interview process.

“For homework one night, they had a job application to fill out, and we had a mini lesson on why that’s important,” she said.

The kids swap jobs every two weeks. Among the options are horticulturist, who waters plants in the classroom; postmaster, who distributes students’ papers in their cubbies; homework checker, who can fine a classmate for not putting his name on his paper; environmentalists, who handle trash patrol and present the Clean Desk Award; equipment manager, who carries balls and jump ropes outside for recess; and librarian, who tends to the books in the classroom.

“You see the growth in how they interact with each other,” said Salsman, noting how the youngsters eagerly take responsibility for their duties.

For their efforts, the kids earn $10 a day.

“We talk about how everyone is equally important, so everyone gets paid the same,” she said.

And while she is introducing some basic economics terms, she knows it will all sink in more when the students are older.

“A lot of these concepts will come to them later since we haven’t formally taught it. Then when we talk about wants and needs and supply and demand, it makes sense to them,” she said.

“It’s amazing what they pick up.”