Banking Basics: what to do first

Welcome to Banqer Primary! It's really exciting that you've taken the plunge by creating your account. So, what now?

Good question, there is a lot to be explored in Banqer but it's important that you take your time and don't rush your students through things. A lot of the knowledge that is about to be created will take a while to sink in, so the idea is that you work your students through Banqer progressively.

Starting out with banking basics.

What we mean by this is for you and your students to simply start off with just the transactional aspect of Banqer. We've got a full checklist in a getting started resource we've made, but here's some short advice:

• Think of three classroom expenses. The most commonly used are wifi, desk rent, and electricity. Now, get your students to set up three automatic payments to you for these weekly expenses using the expenses module. Once set up from your end, there are 7 days until they are activated automatically, so make sure to do this in front of your students so that they have the opportunity to action it and understand what it means.
• Since you're charging your students money already, there needs to be some cash flowing into your new classroom economy. I recommend just starting out with income. Click on the 'Basic Income' module in the left hand sidebar. You'll want to enable the module and decide on a weekly rate to pay your students. We consider this an attendance payment for the class. It's enough to cover basic expenses, but your students will eventually earn more money in other ways. Feel free to involve your students in the conversation of what is a fair rate.
• Lastly, we like to set some class rules. Your class Banqer rules should outline expectations of students and an outline of how the economy works. These can evolve over time as you dive deeper into Banqer but it's important to create a solid foundation from day one.

We hope this is helpful! If you have any questions, feel free to get in touch.