This May, students at Chestnut Ridge, Fairbanks Road, and Churchville Elementary Schools were treated to a new educational challenge – Third Grade Market Days. The enrichment activity was offered at all three Churchville-Chili schools as an introduction to a grade level unit on economics. The purpose? To help students understand the importance of handling money and balancing a budget.
“During our Third Grade Market Days, students got to experience making financial choices and balancing ‘needs’ with ‘wants’,” said Instructional Coach Stephanie Ricci. “It’s fun and playful, but they are learning basic economic concepts and foundational life skills.”
The exercise began with students randomly choosing a wallet that included an occupation and paycheck. Then they visited tables labeled for Home and Utilities, Get Your Dream Car, Healthy Living, Entertainment or Pet Adoption. At each stop, they had to make tough decisions on how best to spend their money. They also experienced unexpected rewards or expenses at the Take a Chance table. Any money left over could be taken to the Bank.
Holding an envelope filled with colorful paper bills representing a two-week salary, one Chestnut Ridge third grader carefully considered her options. Should she share an apartment with a friend or rent an expensive townhome for herself? Could she afford a luxury ride or settle for a used car? Did she have enough money for food, entertainment or adopting a pet? What about saving for the future? Like the rest of her peers, she was enjoying the simulation, but taking the concepts seriously.
After the conclusion of each school’s Market Day, students debriefed with their teachers in the classroom. These are some of the things they said: “I learned that things I need have to come before things I want.” “It is cheaper to share expenses.” “I picked a bicycle but then realized that I can’t ride my bike to Buffalo for the Bills game.” “I learned that being an adult is hard.” “I think maybe I won’t ask my mom to take me to Five Below or Target as much anymore because I didn’t understand healthcare and food are so expensive.”
“This simulation was both authentic and engaging for the students,” said Instructional Coach Shannon Barton. “We hoped this experience would be exciting for the third graders, but what we didn’t expect was how that excitement would resonate with us. The energy from both the teachers and students is what made this lesson so successful!”
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