This elementary school teacher makes her students rent their desks!
Photo by The Charlotte Post
Meet Shelby Lattimore, the Charlotte, North Carolina 3rd grade teacher who is drawing international attention for her creative approach to teaching students how to be responsible with money by giving hands-on lessons on the importance of personal finance.
Lattimore, who teaches math and science at Renaissance West STEAM Academy, gives her students jobs in the classroom that pay differently depending on how hard the students work.
"What kinds of jobs can the students do?" Lattimore said. "We have a teacher assistant, line leader, door holder, recess basket, lunch basket. We also have a cleanup crew." Lattimore added, "It started as a motivator to encourage them to come to class and improve attendance."
It’s grown into a sophisticated economy. Students get paid twice a week in a currency called Lattimore Bucks. Additionally, there are expenses. Lattimore charges her students “rent” for their desks and chairs, which costs $7 per month. There are also fines for things such as late homework or talking in class.
Students can spend their earnings on treats:
Candy: $2
Homework pass: $3
Lunch with a friend: $5
Lunch with Miss Lattimore: $7
And be the teacher, where, for $30, the student gets to be the teacher for the entire day. So far, two students have paid the $30 fee, and according to Lattimore, more students are saving up to be the next in line. That’s right—3rd graders are budgeting.
Lattimore, whose videos on social media are racking up millions of views, says she sees a lot of adults saying they wish they had learned this before facing real-life consequences. She adds that many teachers want to do the same thing, so she’s making a handbook for others to follow.
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Tim McAlpine is the Founder & CEO of Currency Marketing. He is best known for developing the It's a Money Thing Financial Education Program that credit unions from around North America are using to connect with new young adult members. He is also a driving force behind CUES Emerge, an emerging leader program that combines online learning, peer collaboration and an exciting competition component.
