Third Grade Teacher Goes Viral for Introducing Unique Money Management Lesson in Classroom

Shelby Lattimore took to social media to share the unique way in which she runs her classroom and it has left people shocked. She is finding a way to teach kids money management and hard life lessons in 3rd grade. A clip that has gone viral on TikTok, showed the renting system she uses. In the clip, she is seen asking her students whether they are aware that it is the rent-paying day.

While her methods may be real, the money involved in the method is not real. Students are expected to pay for many of the essentials of school learning, including desks and pencils. "People were like, she’s taking $5 from them,” continues Lattimore. “They thought I was taking real money from them, and I didn’t know I had to be specific. Like, no, I wouldn’t take real money from them," she says. 

The currency is called Latimore Bucks and the kids can use the money for many things. "Parents from my class are thanking me because a lot of them do live check to check, and they were never taught to think of money, long term," said Lattimore. "It’s organic. You know, they see the relationship that that I and my kids have built together and I think that’s why the following is amazing."

Kobs included are teachers' assistance, door holders, lunch basket handlers, and more. "The jobs that are every day, like line leader and teacher assistant, like those jobs that you have to do something constantly, get paid more than jobs that are like now and then or once in a while." She said that when the kids get the money later, they have the freedom to spend it on things like candy, homework passes, and more. 

Lattimore said that the top prize is being a teacher for a day which costs $30. "They do have to budget for that one, but they love the responsibility of taking attendance, telling them when to get in line when to get up, things of that sort," she added. "I think it’s so cute when teachers teach kids how to spend responsibly," one user wrote. "This is so good, teaching kids how to budget should be mandatory in all schools," wrote another.

"Man, I wish I had a teacher like this bc no one ever taught me anything I learned most of this myself not even family," a third user wrote.  While many liked it, some people did not agree with her system. "That's cute and important and needs to be taught in school, I just think 3rd grade it's a little too early for kids to start worrying about money," one wrote.  Another person said, "Maybe use something equivalent to money like numbered stickers or something so it's more innocent."

Money management and financial literacy are two important life skills that even young children should start getting familiar with. Parents and teachers are equally responsible when it comes to shaping a child's attitude towards money. Money management is also required to instill a sense of responsibility.