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Creative approaches
to financial education

Workshop summary sheets

  1. PSHEe: Treasure Trove

Age range: Used in Nursery/Reception

Curriculum area and learning objectives: PSHEe

Core Theme 3: Living in the wider world – Economic wellbeing and being a responsible citizen

  • about where money comes from, keeping it safe and the importance of managing it effectively
  • how money plays an important part in people’s lives
  • about the role money plays in their lives

Core areas of learning in FE (framework):

How to manage money:

I can describe and name coins; I am beginning to understand that coins have different values

Managing risk and emotions:

I understand that money has a value and needs to be taken care of

I am beginning to understand that other people have different feelings about money

Other possibilities:

Do the activity using just coins as a way of getting children to understand their different value.

Start or end this kind of activity with a relevant story. See page 18 and 19 of LAMPC.

This basic idea could be used with older pupils to generate a higher level of discussion around value of money/what else we value/what money can buy and what it cannot buy.

2: English/Literacy: Using poetry and literature

Age range: Used in Key Stage 2

A poem can be the stimulus for a thought-provoking lesson on giving and budgeting. The advantage of using the poem as the focus helps to depersonalise the subject so that children can consider the financial implications without having to consider their own personal circumstances.

Consider how it feels to give and receive gifts. The children will undoubtedly relish the meanness of Dave Dirt’s approach and enjoy thinking about how the recipients of the very unpleasant gifts would feel!

Give the children an imaginary budget of £20 and provide them with some suggestions as to how they can spend that money. The children should provide a gift for each of Dave’s five family members. Some of the gifts are could be free, for example, ‘Weed the garden’ or ‘Wash up for a week’ and some have a monetary value. The children may decide to spend little or no money on their gift choices but should be able to justify their reasons.

Curriculum area and learning objectives:

There are a range of targets one can meet using a range of texts: fiction, non-fiction and poetry.

Sustain conversation, explain or give reasons for their views or choices

Share and compare reasons for reading preferences, extending the range of books read

Identify features that writers use to provoke readers' reactions

Core areas of learning in FE (framework):
Becoming a critical consumer: I understand I have choices about how to spend my money and they have an impact on other people

How finance plays an important part in peoples’ lives: I understand the benefits of giving (to charities) and how I feel

Other possibilities:

Learning where money comes from is a key part of developing financial capability. Asking children to discuss issues like where their personal money or their family's money comes from, however, is problematic. Starting with the youngest children many lesson plans may suggest talking about weekly pocket money in the clear expectation that this is a universal experience. A useful tactic is to use children’s literature as a starting point. Many children’s books contain descriptions of different family circumstances – these can be used to explore the possibilities open to people in different circumstances.

  1. Citizenship: Safer lending and borrowing

Age range: Used Key Stage 3/4

This activity is part of a suite of activities designed to warn pupils about the dangers of illegal money lending and increase their knowledge and understanding about managing money effectively through saving and budgeting and knowing about safer ways to borrow money.

Curriculum area and learning objectives:

Programme of Study for Citizenship
The national curriculum for citizenship aims to ensure that all pupils are equipped with the skills to think critically and debate political questions, to enable them to manage their money on a day-to-day basis, and plan for future financial needs.

Core areas of learning in FE (framework):

Key Stage 3 pupils will be taught:

  • the functions and uses of money, the importance and practice of budgeting, and managing risk

Key Stage 4 pupils will be taught:

  • Income and expenditure, credit and debt, insurance, savings and pensions, financial products and services, and how public money is raised and spent.

Other possibilities:

You can use a whole variety of case studies to explore the dangers of safer lending and borrowing.

Extend discussions to the ethics of lending: pay day lending, illegal money lending, mainstream forms of lending

Some other useful resources

KS3&4

Max Your Money skills

KS1&2

Experian

Spending Sense

4. Finance Lessons from the Creative World of Art

Age range: Used in Upper KS2

Curriculum area and learning objectives:

-Zero – Nine by Jasper Johns - Collaborative Learning in
Art & Mathematics,

Maths is not just about numbers, formulas and logic, maths is also about structure, symmetry, shape and beauty Conversely, Art is not only about emotion, colour and aesthetics, but also about rhythm, patterns and problem solving.

Jasper Johns painting Zero-Nine is semi abstract but firmly rooted the real world.

-Low Life by Sir Luke Fildesis a pessimist’s image of poverty, hardship, illness and death. The Victorian artists of that time confronted the social events of the day There are links to history further opportunities to deepen pupils and social, moraland culturalunderstanding in relation to the effects of poverty and lack of money.

Core areas of learning in FE (framework):

How to Manage Money: (Zero - Nine)

I can recognise and choose the correct value of coins to use and calculate change (KS1)

I can calculate exchange rates

I know how to interpret basic financial information

Managing risk and emotions: (Low Life)

I understand that values, culture, income and commitments will affect how people manage their money

I am beginning to understand that other people have different feelings about money

Other possibilities:

My Money Week Activity packs:

‘Savvy school children see their work on display at London’s Design Museum’

There are numerous opportunities to capitalise on the benefits of Collaborative Learning through team teaching of Maths and Art

Learning about Money in the Primary Classroom - page 50

  1. Mathematics: Calculating and Understanding Payslips and Forms

Age range: KS3 KS4

Curriculum area and learning objectives:

Mathematics, Business Studies, Citizenship

Core areas of learning in FE (framework):

I know the importance of financial information included in items such as bank statements, pay slips and utility bills and what it means

Opportunities linked to mathematics:

I know current UK minimum wage rates, income tax and VAT rates or can find them out. I know how to work out gross and net pay

I know how to interpret financial information presented in graphs and tables and can link the concept of debt to negative numbers.

Other possibilities:

Money Works: It’s your business – Resource Payslips

Barclays Moneyskills – Understanding your payslip

Pfeg resource: Let’s Get Functional

Pfeg resource Spending Sense – Activity 8 Payday

Pfeg My Money Mathematics Resource Page 14-17 Money - Earning It!

  1. Enterprise – Popcorn!

Age range: Key Stage 1 & 2

Curriculum area and learning objectives: Enterprise Projects

Provision for developing pupils’ understanding of the role of money and aspects of basic economic and business understanding and enterprise capability.

Core areas of learning in FE (framework):

Becoming a Critical Consumer:

The difference between cost, price and profit

I can calculate profit and loss

How Finance plays an important part in people’s lives:

I know that we can get money in different ways e.g.earn win borrow find

Pocket money presents

I know that there is a range of jobs paid and unpaid

I can describe different jobs that I might do to earn money when I’m older

I understand that different jobs pay more than others

Other possibilities:

Key Stage 1 & 2

ENTERPRISE – Learning About Money in the Primary Classroom Page 48-49

Enterprise attitudes, Mini Businesses, Make Your Money Grow

Eco Couture – Learning about Money in the Primary Classroom (support materials) page 50

Key Stage 3 & 4

Money Works: It’s your business

MoneySense for School’s : You’re in Business

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