We had a visit from Mrs Hopper who spent time with most classes:
8-12 November 2021 was Talk Money Week & I was fortunate enough to visit Patrington Academy and hold sessions with years 1-6 to talk about money.
In years 1 & 2 we looked at the different types of coins we have in the UK, looked at adding them together then designed our own coins. We came up with some fantastic ideas. We also talked about where we keep our coins and that if you keep them in your bank account the bank pays you money and that’s called interest.
In years 3 & 4 we talked about the different ways we can pay for things, we looked at the features of gift cards, debit cards & credit cards. We discussed if we use our credit cards we would pay the bank interest and if we don’t pay our credit cards that means paying the bank more money. We then looked at some different scenarios of how to pay. Most of the children decided I shouldn’t pay for my holiday on my credit card but should wait until I had saved up enough money for it or just stay at home, but when Mr Spendalots roof leaked he may need to pay on his credit card as it was important to get it fixed ASAP.
In years 5 & 6 we became critical consumers and talked about value. We looked at differ offers in shops and online, what sometimes seems like a good offer might not always be as it seems and how retailers use marketing to try and persuade us to impulse purchase. We talked through the 10 questions we should ask ourselves when making a purchase. They decided that even though the AMAZING trainers were 50% off (they really were amazing!) I didn’t need them and was been swayed by the half price offer.
In all classes the children shared their stories of money and scenarios that had happened to their parents. I hope this has had an impact on them and they came home talking to you about money as I believe Financial Education is extremely important.
Additional resources are available on the HSBC website – https://www.hsbc.co.uk/financi