Teachers are often limited by their budgets, and it can be hard to know how much they should spend on items for the classroom. What teachers need to remember is that every dollar spent has a return on investment! In this blog post Actknw will explore what ROI means and give you some tips for maximizing your returns.
The most important thing for teachers to remember is that every dollar you spend can have a return. What this means is that if you are spending money on an activity, program or service, there will be some benefit attached to it. For example, let’s say you purchase pencils and notebooks from the school supply store. Instead of providing them yourself (which would make the ROI less than 100%). By doing this, not only do students get what they need but also their teacher saves time!
Find great deals
The next step in maximizing returns is finding great deals while still getting high-quality products. This might mean shopping around before purchasing items like calculators or art supplies. Another way teachers can maximize their returns at home is by buying reusables. For example, cleaning wipes are a great solution for art projects that may get messy. What this means is that the more you use them, the less money you have to spend on paper towels or other items from your local grocery store.
Think about future uses
The final step in maximizing ROI is thinking about future uses of what you purchase now. If teachers can think ahead and plan their purchases, they will not only save time but also extra dollars! What we mean by planning here is either trying to anticipate how many times an item will be used (for example if it’s something like chalkboard markers). Or buying reusable materials instead of disposable ones (like pencil sharpeners). When teachers do these things they see returns later down the road!
How much should teachers know about return on investment (ROI) when it comes to educational resources? This is a difficult question to answer because there are so many different variables. What does this ultimately mean for educators who want to make the most of their classroom budget or have an idea how well new materials will work in their school? Let’s take a look at some key facts and figures that can help you better understand ROI. As well as provide important information specific to making sound purchasing decisions.
Is understanding ROI something that all teachers need?
According to the National Education Association, “teachers should be able to assess the return on investment of instructional materials”. What this means is that teachers need to know how well an educational resource will perform in their classroom before they can see ROI for it.
What does ROI mean?
At its simplest level, “return on investment” refers to whether or not a purchase creates value and improves your financial position over time. In this way, educators are looking at how new resources help them solve problems as they work with students. While also thinking about what type of impact these solutions have on student achievement.
How do you calculate ROI?
As we mentioned above, there are some important variables when it comes to calculating ROI. What this ultimately means is that it can be difficult for educators to estimate the return on investment of a new resource. Even if they have some idea how well it will work in their classroom.
What are key things teachers need to know?
When we look at these examples and think about them from an educator’s point of view, there are two important takeaways when making educational purchases based on ROI:
We should prioritize products with multiple uses or applications. Because then you maximize your money spent (return). For example, choosing between buying one math textbook versus three different grade appropriate books could save you hundreds over time. This also helps drive home personalized learning by allowing students multiple ways of learning the same lesson.
Overall perspective
We need to look at a product from an overall perspective instead of focusing on one individual feature or benefit. This includes looking at how products work. As well as whether they will fit into your broader curriculum and instruction over time, rather than considering just one part of that picture. What this means is that you should not count only on new materials making it easier for students to learn what’s being taught in front of them right there in class (i.e., if something makes student expectations clear, grades assessments easy to understand, etc.). If you want learners to be successful then we also have to think about where these resources can take us beyond the classroom; i.e., does it cover up-to-date standards that are important to your district? What’s the value of a resource beyond what happens in front of you on any given day?
What do these things mean for educators today?
While it may be difficult, teachers should find ways to incorporate ROI when purchasing new materials for their classroom. By doing so, they will create a better learning environment and help students reach higher levels of achievement. While also feeling confident about how much those resources cost them overall.
