PAYDAYS LESSON PLAN
The First Payday
1. Keep careful track of each student’s work record in his or her part-time job with the Part-time Job Form. After students have worked for about one week, plan for a payday.
2. Make a transparency of the Income and Expense Journal. On the overhead, demonstrate the way to keep a running total by recording income and deducting expenses. Each student will keep an Income and Expense Journal in his or her MoneyInstructor-nomics folder and will record all monetary transactions in it. The journal should show an accurate statement of finances at all times.
3. Discuss each student’s work record with him or her individually. Pay their salary and have them initial for receipt of payment. Help students record this initial payment in their Income and Expense Journal. Remind students that they are responsible for their own MoneyInstructor-bucks from this point on.
4. Stock your class store with free or inexpensive items that are desirable to students. You may want to operate your store out of a tub stocked with goods. Make special, signed certificates for the intangible items. Hire a student to make a poster for the store that lists all available items and their prices.
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