At Tenafly Chabad Academy, fourth grade students are diving into the world of real-life finance through an innovative and immersive program called “Mini Economy: Learning Life Through Earning.” This engaging curriculum empowers students with essential financial literacy skills by simulating real-world economic systems right in the classroom.

Each student has been assigned a job role, signed a rental agreement, and learned to complete critical financial documents such as deposit slips, bank and rent logs, and loan applications. Throughout the month, students earn classroom currency by demonstrating positive behavior, completing homework, and engaging in lessons and working hard.

To further reinforce responsibility and accountability, an “offense log” system tracks fines for rule violations, teaching students the tangible consequences of their actions. This hands-on approach has proven to be a powerful tool for building key life skills such as budgeting, saving, organization and delayed gratification.

At the end of each month, students receive and deposit their paychecks, pay rent and fines and participate in a classroom auction using their earned funds. Those unable to meet essential payments consult with a classroom loan officer to create a realistic repayment plan—learning firsthand that loans are available for necessities like rent, but not for luxuries like auction items.

This dynamic program doesn’t just teach financial concepts—it shapes financially responsible, thoughtful and organized young citizens ready to navigate the real world.