A System of Checks and Balances
The Problem: As a classroom teacher at the high school level, I am challenged to create real world experiences for my students who will soon be a part of that real world. One specific weakness that we commonly face is the concept of budgeting and spending money wisely. My students need to understand 1) the need for regular income, 2) the necessity of developing and following a budget, and 3) the practice of banking and keeping of accurate financial records.
The Solution: Students in my room participate in “The System of Checks and Balances”. In this program, each student has a set of personalized checks, deposit slips and a check register. From their semi-monthly “paychecks”, students must pay a variety of fees, patterned from “real life” - desk rental, cafeteria expenses, electricity and water usage, cable and internet charges, etc. A variety of amounts are charged and due dates are spread throughout the month. In addition to these fees, I have included some rewards, such as a small amount of money for earning 100% on a test, or bringing back a signed paper the day after it was sent home. There are also some penalties; there is a fine for late/lost homework and for “F” tests. Students are expected to make all payments on time and keep their check registers current and accurate. As they maintain their registers, I record all banking activities on individual “statements”; the two are then reconciled at the end of the month.
I make the checks and deposit slips, personalizing them with the students’ names and using the school address. In the past I have copied them from a check writing workbook, but there are now blank checks available to paste into and manipulate in word processing programs. Check registers were donated quite willingly by a local bank. I have seen programs like these available commercially, but doing them myself is simple and also makes the supply easy to replenish.
The Impact: The kids were hooked from the beginning because of having personalized, “adult” materials to work with, even though they quickly learned that this program requires a good deal of responsibility on their part. Throughout the year they have mastered the skills needed to maintain their accounts, from knowing how to spell number words to knowing when to add a deposit or subtract a check written. They are learning that adults have a lot of commitments to take care of before the luxuries can be realized. The rewards and penalties have offered a surprise benefit; these categories are very motivating and encourage further responsibility. I will admit that at the beginning of the year, we dreaded the end of the month when it was time to reconcile. Even though I was keeping a pretty close eye on the registers, many mistakes were made. Each and every student is still not perfectly accurate each and every month, but there has been marked improvement. The kids are learning how to locate and correct errors as we go. Our System of Checks and Balances has turned into a very practical, eye opening and enjoyable “real life” experience.
Please feel free to contact me with questions. I’d be happy to share the materials that I have developed for this worthwhile program.
Mary Dagon, Teacher of the Deaf/Hard of Hearing, Belleville Area Special Services Cooperative
O’Fallon Township High School (618) 632-3507, ext. 340