This week has been all about money and we’ve learnt a lot about money, spending, prices and saving. We have had some visitors in to help us with our learning. Here’s what we’ve got up to:
It’s party time!
We had a two hour workshop where we learned how to plan a party. From thinking about what makes a good party to how much we were spending on balloons. We started by ranking elements of a party by how important they are. Here was one group’s final ranking:
We then chose a person to plan the party for and this was tricky as we had to think about what someone would want at their party rather than our own choices!
Finally, we had to think about what we would spend on what. Each group had a budget of £10 per guest and the children quickly realised how they needed to save money on a venue for the party so that they could have more decorations or food!
Overall, every group managed to spend under their budget which shows that they knew the difference between a want and a need.
The Lost Purse
We had a second workshop with some workers from the bank. During this session we learnt:
- People can pay for things using cash or electronically.
- The price of everyday items like a meal deal from the supermarket.
- People can sometimes borrow money but they have to pay it back otherwise there is consequences.We also were able to give advice to someone on how they should spend their money. ‘Mr I Spendalot’ wanted to book a £500 holiday. He could have either spent his money on his debit card or use his credit card and have to pay it back. We decided that maybe using his debit card was a good idea if he knew that he could afford it!
Help at home by thinking of different items that you have or would like and and decide: Is it a need or a want?
