At Thomas Metcalf School, teachers have been exploring ways to engage students in financial literacy while reinforcing positive classroom behaviors. As part of this initiative, they implemented ClassBank, a classroom economy system and surveyed students to understand its impact. With 99% of students rating ClassBank positively, the results highlight how integrating financial decision-making into the classroom can support both academic and behavioral growth.

Key Takeaways from the Student Survey

1. Student Engagement and Experience
   
   • 99% of students rated ClassBank positively, with 87% rating their experience as excellent or good.
   • Students appreciated how interactive ClassBank is and how it made financial concepts more accessible and enjoyable.
2. Most Popular Features
   
   • The #1 favorite feature was the school store! Students found motivation in shopping at the school store, reinforcing financial decision-making.
   • Jobs were a close second favorite, as students enjoyed applying for jobs to help the school community while earning classroom currency through their roles.
   • They also valued the opportunity to manage their own bank accounts, gaining early exposure to financial literacy principles.
3. Behavioral Impact
   
   • Many students reported improvements in classroom behaviors such as organization, rule-following, and time management.
   • One student noted, "I have not been talking as much in class," while another shared, "I’ve been saving my money and learning responsibility."
4. Student Feedback
   
   • "It is nice to be rewarded for what I’m doing, and it encourages me to keep doing good things."
   • "I love that ClassBank lets you have the experience of having real jobs and money, and being responsible and saving it."
   • "I have two goals and i already completed one, its very easy saving my money."
5. Student Suggestions for Improvement
   
   • Some students suggested implementing more classroom jobs with varying pay levels to provide additional earning opportunities and incentivize greater participation.
   • Others requested more frequent access to the class store to maintain motivation and engagement.

Using the Learner Characteristics Rubric

To further support student growth, Thomas Metcalf teachers integrate a Learner Characteristics Rubric, allowing students to self-assess their strengths and areas for improvement. This rubric connects with the classroom economy by reinforcing core skills like responsibility, organization, and self-regulation. 

The combination of the rubric and the classroom economy provides a structured yet flexible framework to help students reflect on and improve their personal learning behaviors.

Instructional Takeaways for Teachers

• Encourage Student Reflection: Use a learner characteristics rubric alongside your classroom economy to help students connect financial decisions with personal responsibility.
• Create Meaningful Incentives: Ensure classroom jobs and rewards align with behaviors you want to reinforce.
• Balance Accountability and Motivation: Consider adjusting fines and store access based on student feedback to keep engagement high while maintaining structure.
• Provide Opportunities for Growth: Allow students to apply for different jobs and adjust their spending habits over time, simulating real-world financial learning.
• Check In with Students Regularly: Gathering student feedback throughout the year can help refine the classroom economy and ensure it remains engaging and effective. Consider using a short survey like Thomas Metcalf’s to assess what’s working well and where adjustments might be needed. 

The survey results demonstrate how a structured classroom economy can support student engagement, financial literacy, and behavioral growth. By incorporating student feedback and aligning with a learner characteristics rubric, teachers can create a more effective and meaningful learning experience. As educators continue refining their approaches, a classroom economy remains a valuable tool to help students develop essential life skills while staying motivated in their academic journey.

Want to learn more about how ClassBank can help your school build student engagement and real-world skills? Get a demo!