WOS Elementary students learn value of math through auctions

West Orange – Stark Elementary student Jaylen Cook was excited to be the winning bidder for a bicycle in the third grade auction.

West Orange – Stark Elementary third, fourth, and fifth grade students enjoyed a “Pay Day” math auction at the end of January. The students used incentive funds earned and banked in math classes to bid on and purchase items such as skateboards, board games, books, digital cameras, restaurant gift cards, play dough, Lego sets, a bicycle, and more.

Specifically, the WO-S “Pay Day” program utilizes banked incentives to encourage positive mathematical work habits, such as high test scores, proving/explaining math problems, diagnosing/correcting math mistakes, becoming a “Multiplication Math Rock Star”, and completing math homework with evidence/proof.

WO-S Elementary School Numeracy Coach Adena Frazier said, “Due to rigorous Texas Essential Knowledge & Skills which specifically target financial literacy in elementary math, our students are required to become more financially savvy.

“Our students earned ‘pay day incentive’ money throughout the first semester of school to deposit into their bank accounts. At the end of January, third, fourth, and fifth grade students were able to use their ‘pay day’ accounts to bid on items in live grade level auctions,” she said.

The WO-S Elementary “Pay Day” program began three years ago. The program’s purpose is to increase student motivation, reward students for great efforts, meet requirements associated with state math curriculum, and develop confidence as young mathematicians.

Currently, the Texas Essential Knowledge & Skills (TEKS) includes the following financial literacy skills, as well as others:

Grade 3:

• The student is expected to explain the connection between human capital/labor and income.
• The student is expected to determine the value of a collection of coins and bills.
• The student is expected to describe differences between availability or scarcity of resources.
• The student is expected to explain credit is used when wants/needs exceed the ability to pay.

Grade 4:

• The student is expected to distinguish between fixed and variable expenses.
• The student is expected to compare the advantages and disadvantages of various savings options.
• The student is expected to describe how to allocate a weekly allowance among spending; saving, including for college; and sharing.
• The student is expected to calculate profit in a given situation.
• The student is expected to describe the basic purpose of financial institutions, including keeping money safe, borrowing money, and lending money.

Grade 5:

• The student is expected to identify the advantages and disadvantages of different methods of payment, including check, credit card, debit card, and electronic payments.
• The student is expected to develop a system for keeping and using financial records.
• The student is expected to describe actions that might be taken to balance a budget when expenses exceed income.
• The student is expected to balance a simple budget.

Students in grades 3-5 were able to bid on more than $1800 worth of items in the three January auctions. All of the items were purchased or collected through community donations.

The campus is currently preparing for the second semester auction to close the school year in May. The goal is to have enough items to bid on for 90 minutes for each of the three auctions with approximately 600 students bidding. Kindergarten, first, and second grade students have also established a Pay Day Store to redeem incentives that they have earned in their math classrooms.

WO-S Elementary would like to thank the community for their generosity in supporting this program: WOCCISD PTA, Sabine Ford, Cecil Toyota/Jeep, Granger Chevrolet, Jerry Hughes Realty, HEB Grocery, First Financial Bank, Sabine Federal Credit Union, Liz Hogan All State, Orange Sheriff’s Department, KC Pawn Store, Wal-Mart, Subway on MLK, Casa Ole’, Novrozsky’s, A Little Bit Gaudy Boutique, InFocus, Johnson Storage, Kroger, McDonalds, Lutcher Theater, and WO-S elementary teachers.