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My Classroom Economy

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by

Ashley McClintock

on 14 April 2014

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Transcript of My Classroom Economy

Vanguard wanted to provide a "turn-key solution" for teachers to use the materials online.

The website has presented the program with the necessary logistics to foster a nationwide program.

The team also took Rafe's program and expanded it from 4th grade to include all grades K-12.
How the Program has evolved
Sustainability
Innovation & Growth
Leadership
My Classroom Economy
Experiential learning that lasts a lifetime
Impact & Performance
Gabriel Guzman
Daniel Green
Lindsay Lopatin
Ashley McClintock
Jessica Varela

Brought to you by:
Mission
To take a stand for all future investors, treat them fairly, and give them the best chance for investment success.
Vision
To teach children financial responsibility through fun, experiential learning.

"Real Talk for Real Teachers"
Make Learning Fun
Tune in, Participate!
Equitable Education Opportunities
Invest in learning life skills too
Lean on past students
Vanguard, a leading investment management company, is committed to financial literacy for all ages.

The "My Classroom Economy" project began after an employee's 10-year-old son, a fourth-grader, asked a seemingly simple question during dinner: "I wonder when I'll be able to pay off my mortgage?"

Intrigued by the discovery that her son had a classroom mortgage and was earning a paycheck for his classroom job, the employee contacted her son's teacher. He told her about Rafe Esquith, a California teacher, and handed her the book There Are No Shortcuts.

The classroom economy idea offered a way to teach young people not only the concept of financial discipline but also—very importantly—the rewards that go with it. So Vanguard contacted Mr. Esquith, and a partnership began.
Partnering With Vanguard
A Leader by Example

Founder
Rafe Esquith
Vanguard set out to build on the ideas from Esquith's book with a few key goals:

Make them available, free of charge, to teachers everywhere

Teach children financial skills that can last a lifetime.
Vanguard employees donate their time and expertise. As a result, we offer program guides and materials to any U.S. teacher who wants to try this method of classroom management, and to help his or her students learn the benefits of financial responsibility by experiencing it.
2013
1,320 schools

44 states

61,750 students
14,000 kits

48 states

100,000 students
2014
“My Classroom Economy reinforces the Common Core that I’m teaching, and goes even further by providing real-life examples to students. Parents loved the program. In fact, the mother of a child who was going to switch into a smaller classroom was hesitant because she didn’t want him to leave My Classroom Economy!”

– Jamie Jay Summers, fourth-grade teacher at Madison Richards C Simis School (Phoenix, AZ)
“I explain to my students that when they graduate from college, they are going to earn a real paycheck and have a job. Just as they want to buy things now, they're going to want to buy bigger and more expensive items in the future. It's important that they develop the skills needed to use money wisely to achieve financial goals and stay out of debt.”

– Melanie Pereira, family and consumer sciences teacher at Radnor High School (Radnor, PA)
"The students love the classroom economy system. They like feeling in control of how they use their money. This program provides my students with an opportunity to learn about financial planning and making responsible decisions when dealing with money."

– David Szmania, fourth-grade teacher at Warsaw Elementary School (Warsaw, NY)
"In general, we aren't saving money in America like we used to, and people don't always teach the basics to their kids. I think it's a great program, and I've told a lot of people about it."

– Jill Majewski, fourth-grade teacher at Palm Valley Elementary (Goodyear, AZ)
"It's been wonderfully effective for providing motivation and classroom management. The students have been excited and love the auctions."

– Kathy Prince, sixth-grade teacher at Monmouth Middle School (Monmouth, ME)
Testimonials
from
Teachers
45%of high school graduates not ready to manage money
Ambassadors wanted:
My Classroom Economy is looking for ambassadors to refer people to the classroom program found on vanguard.com. Program is K-12, free materials and shipping, training seminar available for interested parties. Call 610-555-9507.
Donate time and talents
Program Materials free of charge
Ambassadors to promote
My Classroom Economy to schools
Five Factors To Determine Sustainability Potential

(Kickul & Lyons 2012)
Capacity
Physical resources necessary to operate the venture overtime i.e. facilites, equipment, inventory
Capability
Combined skills of entire team, staff, board of directors/advisors
Investor Interest
Must be sufficient evidence of philanthropic, governmental, and/or private-sector financial interest
Free to schools. Benefits low-income/disadvantaged schools
Provides financial education leading to a more financially savvy nation
Ability To Generate Earned Income
A matter of determining whether:
For-Profit
Adequate market willing to pay for this product?
Non-Profit
Draw on both philanthropic resources and earned income?
Compelling Mission
The more compelling a social venture's mission, the more attractive it will be to attract financial investment for start up, ongoing maintenance and growth.
"To take a stand for all future investors, treat them fairly, and give them the best chance for investment success"
Venture Capability
At-Home Version
Encouragement to clean his/her own room
Take on chores
Build Character
Partnerships
USPS, UPS, FedEx to discount the cost of shipping the new materials
Sponsor a Classroom
Vanguard 403B7
Awareness
Media exposure
Professional Conferences
Partnerships with Universities for future educators
Girl Scouts
Big Brother Big Sister Club
Full transcript