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For the past four years, Justin Rebitch, a fourth-grade teacher at Shady Side Academy's Country Day School, has been fostering critical money management life skills through a yearlong innovative economy program. Designed entirely by Mr. Rebitch, this engaging initiative immerses students in a practical, interactive exploration of personal finance, economics, and responsibility—using fake money to make the experience fun and risk-free.

“The fourth-grade economy that we do here at CDS is a financial literacy course for students, for them to get used to managing money,” explained Rebitch. “They get a bank account, they earn a paycheck, they pay rent, and they’re able to spend their money however they want.”

But this program isn’t just about learning how to budget—it’s about setting students on a path toward a solid financial future. According to the Federal Deposit Insurance Corporation (FDIC), early financial education has been linked to lower debt levels, higher savings, and improved credit scores as children grow into adulthood. These benefits extend even further, positively influencing net worth and investing habits later in life. Rebitch equips students with essential life skills that will benefit them for decades by introducing these concepts through a classroom economy.

The program combines observation, participation, and play—all proven ways children learn about money. Students earn “cash” for positive behavior, such as helping classmates or staying on task, and receive fines for missteps. “Every Friday, Mr. R does a desk check, and if your desk is the messiest, he gives you a fine for $500,” shared Sam G., a fifth grader in Rebitch’s class this year who is currently participating in the economy program. 

One of the program’s highlights is Situational Friday, where students draw scenarios that mimic real-life, unexpected financial events. “Mr. R has a bucket with pieces of paper, and they all have real-world things that could happen to you,” Sam explained. “I remember once I had to pay a bill to Comcast for $220. It’s usually bad, but sometimes it’s good!” These scenarios teach students to prepare for unexpected expenses and to budget for emergencies. “It kind of prepares you for when things happen in life that you can’t control,” Sam added.

In addition to budgeting and saving, students learn about paying rent, writing checks, and making deposits. “On Grandparents’ Day, we did our first real day of economy, and our grandparents taught us how to write checks and deposit money,” said Sam. These hands-on lessons align with the FDIC’s recommendations, which emphasize the importance of involving children in financial activities like budgeting, bill-paying, and saving. By managing their own classroom economy, students are experiencing these concepts firsthand.

At the end of each month, students can shop at the classroom store or save for bigger rewards. “The store is once a month on a Friday,” said Sam. “A fidget [spinner], for example, costs $100 and some of the bigger items can cost $1,000 or more. If you want something that costs a lot, you really have to save up!” The program even includes a stock market challenge, where students invest in stocks and track their growth—a fun way to integrate math and financial literacy.

Beyond the mechanics of earning and spending, the program helps students develop an essential mindset around money. “It’s teaching us to handle money and not waste it on things you don’t need,” Sam reflected. These early lessons encourage financial independence and build habits of saving and investing that last a lifetime.

By incorporating real-world scenarios, interactive lessons, and practical applications, Rebitch’s program highlights Shady Side Academy’s commitment to preparing students for the future. “It’s a way for students to get used to money and managing it,” Rebitch emphasized. The skills and habits students develop now will serve them well in adulthood, ensuring they leave the classroom ready to thrive in an increasingly complex financial world.