Description Of School Currency System Essay

1134 words - 5 pages

How do students become financially prepared for the real world? Students go through school for quite a few years, they learn reading, math, science, etc. But there is not a finance class to teach students the basics of finance. Now you might think that students wouldn't take the class. That is why you could implement a school currency system. A currency system would be helpful in many ways, although many people are against it, because there could be some flaws in the system. Helping students improve grades, improving daily attendance, teaching important life skills, and improving a students level of responsibility, are reasons why a currency system should be implemented in school.

Our first reason why we beleive a currency system in school is important because it helps pupils improve
in school studies.As John Shindler says," At their best they can help promote good habits and shape more functional patterns of action" (Chapter 7 Transformative Classroom Management).If you offer a student to work hard now, then offer a reward later in return it would be beneficial(Jones Preferred Activity Time).If a student works hard academically now, they will reap the benefits later.
Eventually they will learn that if you work hard in school or work you will receive rewards and you can take the reward away with them knowing that hard work will always recieve a reward.

Another reason that explains that we need to implement a currency system in our school is it it helps a lot with school attendance. According to Shawn Rux, the principle of MS 53, a New York City middle school, a currency/reward system helps a lot with school attendance. "It was ... like, 'Get out of my way, I'm trying to get into school,' " Rux says. "It was nice."(NPR.org) The attendance went up from 50-60 students absent everyday, to 90% of the students showing up everyday. (NPR.org)“Rux also created his own currency. He called it Rux Bux. Teachers hand them out when kids are well behaved. They can be traded in for school supplies, or special lunches. A sixth-grader named Wander Rodriguez is trying to save up 5,000 Rux Bux — enough for a personal shopping spree with Rux.”(NPR.org) Rux was so happy that these good things happened. Then the unspeakable happened a hurricane hit New York but the currency system helped a lot still 89.2% of the students came to school because they liked the currency system.

Our third reason for implementing a currency system is teaching later in life skills. Managing money well is an important life skill that will come in very handy later in life. Warren Buffett, CEO of Berkshire Hathaway, believes that, "Teaching kids sound financial habits at an early age gives kids the opportunity to be successful when they are an adult" (nbcnews.com). He (Warren Buffett) has launched a program for younger children called "Secret Millionaires Club". It helps kids develop good financial habits that will have a great impact on their...

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