Interest Rates: Customize checking, savings, and credit account interest rates. And, assign automatic interest rate posting frequency as daily/weekly/biweekly/ or monthly.
Currency and QR Cash Customization: Teachers can rename the currency used for all accounts, as well as customize their own QR Cash:
Student Reports Teachers can download student PDF reports summarizing student portfolios along with their most recent 25 transactions
Teacher Quiz Creation Create multiple choise quizzes, assign them to students, and assign a $ value to each question that will deposit to student checking accounts.
Asset Supply and Demand Teachers can limit the available quantity of assets, as well as assign a percentage increase in asset price for every asset sold to mimic real world supply and demand scenarios
Human Resources Job Like the Banker Job, the Human Resources Job provides the assigned student with additional functionality in PayGrade. The HR student can assign and remove jobs from students, as well as change passwords if a student forgets their login.
Student AutoPay Students can have automated bill pay to other students. For example: Some students are landlords and with autopay they can charge other students for desk rent.
How to Pitch PayGrade to Your Admin
One important part of our job as teachers is to ask for help instead of using our own money for classroom resources. As a teacher, it took me too long to realize my admin had budget for technology and other resources. All I had to do was ask!
First, instead of asking “Can I have this?” say “I need PayGrade because there is a positive and clear outcome for our students’ success both in school and in the real world! Here is why…” (see below)
Below are a few of the many reasons your school administration will be on board with this small request. Choose a few to share or write up your own!
PayGrade Plus will:
Students jobs like Banker and Human Resources will allow my students to help implement and manage PayGrade so I don’t have to spend time managing my students. They will take ownership of their own classroom.
Financial Literacy is one of the most important real-world skills we need to teach students, and PayGrade does this through the experience of money. Instead of teaching students to take risks, we are teaching them to be responsible and understand the long-term value of responsibly managing their finances.
If we help a student avoid $10/month in money mistakes (like bank fees), or simply show them how to save $10/month, that could easily turn into $4,000 (5% compound interest rate over 20 years). Let’s Invest in our kids so they can invest in themselves!
Becoming a PLUS member will give you additional features to more efficiently manage your classroom and teach your students personal finance. By becoming a PLUS member, you are supporting a small business (a fellow teacher) and you are allowing us to continue to develop PayGrade.io into the best classroom management and experiential finance tool for ALL students.
Join the movement and sign up for PLUS!