School money management

An interesting article where a teacher has a currency for his school class and the kids have to pay rent for desks.... very interesting.
This Teacher Decides To Teach Kids About Finance Using A Classroom Economy System But Not Everyone Likes It

 

I like it. It's more creative than book learning.

 

Looks like he is attempting to bring the "real world" into the teaching process, kudos to him, strange, yet not surprising that he gets a negative reaction from some people, probably cause it touches a nerve in the objectors.

 

Very true.

 

Yeah teach them to live with a social score.
That's not exactly maths

 

I'd be the stand over kid offering my services. 15 Brian bucks for a week's protection. 25 Brian bucks for 2.

Personal bodyguard , 35 BB a week.

See brochure for full range of services.

 

But how many Brain Bucks?

 

How many for what ?

 

Brains or Brians

 

Ahh gotcha!


(Sackie waddles away, tail between his legs, head hung low)

 

Like the idea - but lost me at the comment about writing cheques.

What country is he based in - the US?

 

Yep... Not a skill people need anymore.

 

Brains & brawn - maybe it's both

(I thought a if a good wind got under @Sackie you'd blow away ).

 

Yeah, the cheque bit was a little outdated, but maybe it's more common in the US.

 

Cheques are still most common in the US & Eftpos isn't.

 

The phrase "The Cheque is in the mail" is especially true since the US Postal Service has suspended deliveries to Australia.

 

Ummm then the "check" is in the mail. I have a US based client with that very issue who need to pay their AUD tax for the tax credits. He has access to eft and bpay but the bpay concept is very alien in the USA. He thought it sounded easy and did wonder why they dont have it. He has to pay bills using cards. Checks are still a thing apparently and he hasnt lived here for 30 years. Here they are almosr dinosaurs. Yet around 11 years ago I used tap and go in the states and - no pin under $100USD.... and thought that was revolutionary. Heaps also need you to sign paper and lack security such as CVC and chips. . ...Many card transactions in the USA also want a zip code NOT a pin if its over $100..I eventually found it worked by adding a "0" then my 4 digit aussie postcode and it worked. BUT they dont have eftpos - still dont.

They dont commonly adds merchant fees BUT state taxes are on top of listed prices which confuses. eg a $10 BigMac meal is $11.43 when you pay

 

One way to look at it. I think because we have the Big 4 Banks and a highly regulated banking structure Australia's banking system is pretty good. I think the US have loads more banks, maybe the central system is just still getting the fundamentals right and it's hard to get change happening because the banks need to talk with each other! In Australia all the banks are competitive and trying to get customers, so they are more innovative with technology.
Anyway, glad we don't have the US banking system.

 

I honestly like it. Too many kids enter adulthood with zero idea of how the world works in practice and have to play 'catch up'. Myself included

It gives them an early concept of what it's like being an adult in society. This is definitely something I'd like to see more of in addition to the usual school subjects.