moneymatters · attitudes towards money. this may be the first time that the children have...

Personal Development and Mutual Understanding: Key Stage 1, Year 4Strand 2: Mutual Understanding in the Local and Wider CommunityUnit 5: Money Matters Complementary Units: Difficult Feelings Friendships

The main themes of this unit are: - we all have basic needs and the right to have those met;- it’s important to be able to differentiate between needs and wants; - it’s important to develop responsible attitudes to using money; and - it’s important to learn responsible ways of managing money.

MoneyMatters

Teaching approaches

Classroom Contract/Agreement/RulesWhen children are involved in the planning and reviewing processes they are more likely to take responsibility for how plans translate into practice. To avoid complacency, plan the way you work together in the classroom in a different way with each year group.

One approach is to think about the essence of your classroom, for example how you value self and others. Ask the children how they can ensure that:

- everyone is listened to so their ideas are respected;- value for self includes doing the best we can;- valuing each other extends to valuing the whole school community so that the school is respected in the community;- movement is safe so no one gets hurt; and- equipment is cared for so it is available for all.

This will then determine how you all ensure that everyone feels valued.

Your classroom contract, agreement/rules can be formed from this discussion.

Rules for TeachersTo be stimulating, energetic and enthusiastic, you need to look after your own needs.

- Make some time for yourself each day, even if only 15 minutes.- Keep or take up interest(s) outside of school and home.- Arrange to see good friends regularly.- Include exercise in your weekly commitments. - Take help when offered and ask when you need it.- Make allowances for yourself as you would for others.- Be mindful of the benefits of healthy eating and sleep. - At the end of each day say to yourself and others, ‘One thing that went really well today was...’

Money Values- check that the trainers are the one item s/he really wants most of all if s/he had the money.

The main issues to highlight are:- goods are bought with money;- money can be sourced in various ways;- if you save you will have money to buy more things that you want;- spending money is about making choices;- you need to keep track of your spending and saving to know how much money you have; and - purchases should be planned.

PraiseAs a general rule praise works better than criticism, so give five times more praise. This applies to adults as well as children. Give praise:- in public;- individually;- on a sticky note;- beside a piece of written work;- on a note home;- through treats for break/ lunch; and - by telling another staff member.

Introduce the language of responsible attitudes to money in conversation. For example, you could tell the children that your eight year old nephew/niece wants a new pair of trainers for his/her birthday. He/she can’t afford to buy these himself/herself and so has asked you to donate some money towards buying them if he/she saves the rest. Tell the children that first you need to decide the maximum you are prepared to donate. Then, you have to decide the criteria for choosing the trainers, for example purpose, value and quality.

Ask the children: - how much money you would need to give your niece/nephew if you wish to donate half the cost;- how might your relative gather the rest of the money;- where you should shop;- how the shop deals with faulty goods; and- what their returns policy is.

Challenge their suggestions and ask for reasons.

Thank the children for their advice and reflect that you will need to:- check you have enough money in your bank account to give some to your niece/ nephew; and

Explore and discuss their responsibilities for self and others and how to respond appropriately in conflict situations:- developing a sense of what is fair;- beginning to take responsibility for what they say and do; and - realising why it is necessary to have rules in the classroom and the school.

Building on Foundation Stage

Working at Key Stage 1

Responsibility and respect, honesty and fairness; and constructive approaches to conflict:- identifying ways in which conflict may arise at home, and exploring ways it can be lessened, avoided or resolved;- identifying ways in which conflict may arise at school, and exploring ways it could be lessened, avoided or resolved;- discussing the causes of conflict in their community and how they feel about it;- identifying members of their school community and the roles and responsibilities they have;- beginning to understand why and how rules are made in class, in the playground and at school;- understanding that rules are essential in an ordered community;- identifying the people, jobs and workplaces in the community; and- realising that money can buy goods and services and is earned through work.

Key Experiences in developing responsibility and respect, honesty and fairness; and constructive approaches to conflict

Moving towards Key Stage 2

Human rights and social responsibility, the causes of conflict and appropriate responses:

- examining ways in which conflict can be caused by words, gestures, symbols or actions;- understanding the need for rules and that they are necessary for harmony at home and at school;- exploring and examining the rules within their families, friendship groups and at school;- identifying the variety of groups, their roles and responsibilities that exist within the community; - considering the rights and responsibilities of members of the community;- understanding that rules are essential in an ordered community, and that different rules are needed in different contexts;- examining the effects of anti-social behaviour, for example bullying and racism; and- appreciating how and why rules and laws are created and implemented.

I know about the United Nations Convention on the Rights of the Child (UNCRC).I can tell you four things the UNCRC says about children.I know that I cannot have all that I want.I am trying not to ask for what I want without thinking if I need it or if I really want it.I know that when I borrow I need to plan how I will repay.I can explain why it is important to try to save money.I can identify, locate and select different sources of information about money.I am beginning to understand about saving and borrowing.I can tell you ways I can accumulate money.I am developing an awareness and respect for managing my money.I can describe how I choose what I want to buy.I am getting better at thinking if I need something before I say ‘I want...’I understand that I should have a reason for what I want.I know that sometimes it is difficult to have enough money for needs and so it may be necessary to borrow money.I know that I must think about needs before wants.I know that when I go shopping whoever is with me will not buy me something unless I really need it.

Progress in learning

Key Stage 1, Year 4 Strand 2: Mutual Understanding in the Local and Wider Community Money Matters

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- Who should we ask to visit our class to help us learn more?- What could we bring in? (For example, leaflets about various interest rates, bank accounts or telephone /internet banking.) - How will we show what we have learned?- Who should we invite to see what we have learned?

Rather than calling out their answers, have the children record their individual responses on brightly coloured sticky pieces of paper. Attach these to a planning board, notice board, in a big book, on a flip chart or on a KWL grid. Ask further questions as the topic progresses.

Do- Organise your classroom and adapt the activities according to what suits you and your children best. - Involve the children in setting up and tidying away equipment/ materials for activities. - Have the children carry out activities individually, in pairs, in groups and with the whole class.

- Have a core of activities that the whole class will have completed in pairs or in groups by the end of the topic. - Be flexible. If the children develop a particular interest in one part of the topic and want to explore it further, let them.- Discuss the learning each time in a plenary session.

Review- Encourage good listening skills. Ask the children to build on what someone has said or to rephrase it.- Talk about the learning. Ask the children to identify which parts were easy or difficult. Ask them what they didn’t know before. - Ask the children what might have made the session better.- Talk about where else they could use the learning for example in school, at home and/or in the community.- Challenge their thinking. Ask: What makes you think that? Is that always true? Does anyone think differently?

Understand the importance of agreed ways for living and working together.

Know and begin to use a range of strategies to manage conflict.

Learning intentions:

PlanThis unit provides an opportunity for adults and children to think about their attitudes towards money. This may be the first time that the children have experienced a focus on money, in school or at home. Use a discussion activity to introduce this topic (see Teaching Approaches, Money Values). This will give you an opportunity to explore the children’s values, attitudes, knowledge and understanding of money matters.

Although it can be a sensitive issue, it is important that children develop responsible attitudes to money. At the planning stage, ask the children the following questions: - What do we know already about how we get money?- Write down any words you associate with people/buildings/paperwork.- What do we want to find out about how we use money?

Learning together

Thinking Skills and Personal Capabilities by the end of Key Stage 1

Managing information

Ask more focused questions about the task, clarify purpose and what needs to be done;

Recognise where similar tasks have been done in the past;

Use their own and others’ ideas to identify, locate and select various sources of information;

Set goals for their work, break tasks into smaller parts and plan their next steps;

Record information in a variety of formats; and

Begin to identify audience and purpose when communicating.

Thinking, problem solvingand decision-making

Show their ability to organise and summarise to show understanding;

Sequence, order and rank information along different dimensions;

Identify similarities and differences by making simple comparisons and connections;

Begin to test predictions and to look for evidence;

Become more adept at turn-taking, sharing and cooperating when working in a group or team;

Decide what needs to be done in a group and take responsibility for aspects of the work;

Show the ability to learn from shared and modelled activities;

Adapt behaviour and language to suit different situations;

Show fairness to others; and

Recognise and respect other people’s feelings and ideas.

Self-management

Check that they are achieving their purpose by talking about what they are learning, how the work was carried out and some aspect that might be improved;

Check work routinely for accuracy and precision;

Persist with tasks until an appropriate endpoint, with teacher prompting;

Seek help from other people;

Work towards personal targets identified by teacher; and

Develop an awareness of what they enjoy, what they find difficult, their personal strengths and limitations.

Make decisions and generate options;

Suggest possible solutions to problems;

Be systematic and work through the stages in a task;

Explain their methods and opinions, and the reasons for choices and actions; and

Recognise the differences between why, what, where, when and how questions.

Being creative

Show curiosity when approaching new tasks and challenges;

Have experiences with all the senses;

Listen to and share ideas and experiences;

Generate as many ideas as possible, building and combining ideas;

Take time to use the imagination. Enjoy the unexpected, unusual and surprising; and

Experiment and investigate real life issues.

Working with othersDevelop further habits of collaborative learning; 3

Words and phrases I will hear and use

Across the Curriculum: Connecting the learning4

Recording money using ICT

Talking about the value of money

Using ICT

Account

Earn

Deposit

Debt

Cheque

Interest

Using a range of media to construct a 3D dream bedroom

Using Mathematics

Budget

Save/savings

Statement

Art and Design

Activity 1I’m learning about my rights Understanding that there is a United Nations Convention on the Rights of the Child which most countries in the world agree lays down the basic rights that each child should have.

Learning activities

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BorrowManager

Salary

Wage

Value Quality Afford

Bank official

Borrow

and repay

BalanceReceipts

Activity 2Do I need it? Do I want it? Recognising the difference between needs and wants.

Activity 3Using money Developing responsible attitudes to using money.

Activity 4Managing money Emphasising the importance of responsible ways of managing money.

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Learning activity 1: I’m learning about my rights

SUGGESTED SUCCESS CRITERION

We will learn about some of the rights set out in the United Nations Convention on the Rights of the Child.

CORE CONCEPT

Children are dependent on the adults in their lives for many things. They need to be able to identify their needs and communicate them assertively to the adults around them.

POINTS TO NOTEThis unit continues the theme of developing the children’s ability to voice their needs. It goes on to create an awareness of money issues, helping them to distinguish between wants and needs. This unit has strong links with Green Unit 4: Friendships and Violet Unit 7: Who Influences Me? of this resource.

Money issues can be sensitive. We suggest that you send the Letter to Parent(s)/Carer(s) home at the beginning of the topic.

It is suggested that the children invite someone from home or another close relative or friend to come to a class display of the work produced in this unit. You may decide to include related activities from other units.

A child friendly UNICEF version of the United Nations Convention on

the Rights of the Child is available in Primary Values (CCEA) p233 and also in Lift Off (The Lift Off Initiative). Alternatively, you can access it through the internet.

WHAT YOU NEED- Letter to Parent(s)/Carer(s) (Resource A)- Keep The Date Invitation (Resource B)- Speaking object if required- Art and design materials including paint, brushes and large sheets of paper- A child friendly version of the United Nations Convention On The Rights Of The Child - Magazines and newspapers featuring children from other countries

WHAT TO DO- Circle Work- The Rights Of The Child - My Needs

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Ask the children to sit in a circle and to think of any house, flat, or caravan they know of where children live on their own without any grown ups. They will probably not be able to come up with an example. Then, ask them if they can think of a house, flat, or caravan where there are grown ups but no children. Hopefully they will think of lots of examples. Ask the children to reflect on this using the following questions: - Why is it that adults sometimes live alone but children do not live alone?- Why do children need an adult living with them?

Ask everyone in the circle to give an answer to the questions. Accept all answers and encourage the children to give a wide variety of reasons. In Green Unit 4: Who Influences Me? Learning activity 4, the children were asked to make a list of wants and needs. If you have completed this activity, ask the children if they want to add anything to their list. You could also ask if they want to delete anything from the list, for example any unreasonable wants.

Circle Work

If you are using the UNICEF booklet from Primary Values, show the children the copy of the United Nations Convention On The Rights of the Child. Explain that the countries of the world have a place where they meet and decide on important things about the world. This is called the United Nations (UN). Inform them that the UN agreed that all children deserve to have certain rights. Explain the booklet on the Rights of the Child and leave it on display in the classroom. Ask the children to compare their list of wants and needs to the list in the booklet. Encourage comments and questions. Ask the children to consider in what ways the lists are the same and in what ways are they different.

Discussion Ask the children where they get most of the things they need. Many will answer at home. On the board draw a large outline of a house. Ask the children which needs are met at home. Answers you might expect to hear are food, love and safety. Write their answers inside the outline of the house. Then ask which needs are generally met outside the home. Answers you might expect to hear are friends, exercise or fresh air. Write these answers outside the outline of the house. You may need to write some words both inside and outside the outline of the house, for example education. Leave this work on display, as you will need it for art and design work later.

If you completed Green Unit 4: Who Influences Me? Learning activity 4, ask the children to recall the story about Jackie. She didn’t know how to ask for what she needed. Tell the children you want to introduce two more children who do not know how to ask for what they need.

The Rights Of The Child

wants and needs

Learning activity 1: I’m learning about my rights (continued)8

Situation 1

Anthony’s parents go out on Friday

night. His two big brothers look after

him and they usually watch DVDs.

Sometimes the DVDs are good. Other

times they are scary and give Anthony

nightmares. One Friday night Anthony

makes a fuss when his Mum is leaving

and pretends to be sick.

Situation 2Jenny’s Mum has a new baby and she is very busy with him. Sometimes when Jenny comes home her Mummy is asleep and her dinner is late. Sometimes she misses her story at night because the baby is crying to be fed. One day Jenny shouts, ‘I hate you’ to the baby.

Use the following questions to generate a class discussion:- What do Anthony/Jenny want? - What do they really need? (Attention/safety) - How are they trying to get what they want? Is it working? - What is the first thing to do when you need something? - Are Jenny/Anthony asking for what they need? - Do you think you could help them ask?

Have the children role-play the scene where the Anthony/Jenny asks directly for what s/he wants. Tell the observers to affirm Anthony/Jenny for what s/he is doing well and to offer suggestions.

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My Needs

Distribute art and design materials to the children. Ask them to draw an outline of their own house. Next, ask them to choose words from the display that are relevant to them, and to write them inside and outside their house. Keep the children’s work as you can include it in a Money Matters display for invited guests. Give each child a copy of Resource B: Keep The Date Invitation. Inform them that you are going to have a Money Matters display to show off their work. As a class, plan the event and agree on the information to be included on the invitation. Allow the children time to design their invitation.

Finish by recalling all the needs that are met at home. Explain that sometimes we need to ask for what we need and sometimes we need to ask for what we want. You may find the following explanation useful:

The grown ups at home can’t always read our minds. Sometimes we have to ask for help. Asking clearly in the way we have just practised is best. Over the past while, we have learned a lot about ourselves, our bodies, our feelings and how to understand others. We have learned how to trust and cooperate, how to deal with bullying and how to make up our own minds about things. But we are still children and sometimes we need help to

Extension WorkChildren around the world

Carry out a project on the lives of children around the world. Ask the

children if they think that all the children in the world have their rights

recognised. Refer to the United Nations Convention on The Rights of

the Child. Ask them if they think there are places in the world where

children do not have all the things on this document. Discuss with the

children and identify places where they think that children do/do not

have their rights recognised and why. Ask them to collect pictures of

children from different countries and help them gather information

using internet sources. For example, have them research:

- the type of food eaten;

- the clothes worn;

- housing;

- education; and

- health and safety issues.

Explore how children from other countries are the same/different

as children in Northern Ireland. This will give opportunities for

research work in the area of development education.

figure things out. (Recall some of what was said in the circle discussion on why children need adults.) Over the next few weeks we are going to be learning more about needs and wants in relation to money. Then, we will invite someone from home to come and hear about all the work we have been doing here. We will explain to them how we still need their help with all these things while we are growing up. And then you will take home your folders so that you can show all your work to everyone at home.

Further activities about the help and tools that children sometimes need are included in Indigo Unit 6: I Am...You Are...We Can...Learning activity 4 of this resource.

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Learning activity 2: Do I need it? Do I want it?

SUGGESTED SUCCESS CRITERIA

We will begin to understand the difference between needs and wants.

We will begin to consider the difference between a need and a want to help us make good decisions and choices.

CORE CONCEPT

All people have both needs and wants. Distinguishing between needs and wants is an important factor in managing to make responsible decisions and choices in life.

POINTS TO NOTEAll people have needs and wants. Young children need help to understand the difference between needs and wants in order to have both met appropriately. Food, shelter and clothing are all considered to be needs.

Teachers should adapt the activities to best suit the needs of their children.

WHAT YOU NEED- What Do You Think? (Resource C)- The Challenge (Resource D)- Budget Sheet (Resource E)- What The Family Thinks (Resource F)- Catalogues showing a range of bedroom furniture and party products- Food leaflets showing prices- Card or suitable material to make posters

WHAT TO DO- What Do You Think?- A Celebration- My Bedroom- What The Family Thinks- Who Provides?

What Do You Think?

Organise the children into pairs. Give each pair a copy of the word cards from Resource C: What Do You Think? Ask them to discuss each item on the cards and decide if it is a want or a need, and then place each card in an appropriate pile. Ask the pairs to elect a spokesperson to feed back their selection to the rest of the class, giving reasons for their choices. Encourage the other children to challenge any choices

they do not agree with. Finally, as a class, agree which of the cards are wants and which are needs. If you have already used Green Unit 4: Friendships, Learning activity 4: Being Assertive, remind the children of non-material needs such as love and friendship.

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A Celebration

Invite each pair to join with another pair to form a group of four. Ask them to think of a way of celebrating in class all the work they have done and are about to do. You may consider the completion of all the Learning activities to be the cause for celebration. Distribute a range of food leaflets to each group. Ask them to write a list of all the food, drinks and party items they would buy for the celebration if they had an unlimited budget.

Next, give each group a copy of Resource D: The Challenge. Tell the groups that they only have £50 to spend on buying food, drink and party items for the celebration. They must come up with a list of what they would buy. Remind the children that they must buy items for the mutual benefit of the whole class. They must consider if anyone in the class has any special dietary needs. They will also need to identify the necessities and consider which shops they would buy products from, and why. You may decide to ask the children to research the prices of the necessities on the internet or as a home learning activity. For easy recording, ask the children to work in whole pounds.

When groups have finished, ask them to record their list on Resource E: Budget Sheet. Have the children design a poster that highlights the products they would buy. Finally, display each group’s budget list and poster in the classroom. As a class, look at the work completed by each group. Discuss the advantages

and disadvantages of the items included on each poster. Ask the children to consider which they think is both the most suitable and within budget, and is most beneficial to everyone in the class and the invited guests.

Give each child a coloured, sticky dot. Ask them to place their dot on the budget poster they believe is the most suitable. Remind them that they must choose a poster that keeps to the budget. The budget poster with the most dots is the winner. Explain that you will follow this list when buying things for the celebration.

Ideas for raising money are explored in Learning activity 4 of this unit. Reflect on the feelings that are associated with having a celebration. Responses you might expect are happiness, pleasure, pride, self-esteem and feeling good about yourself.

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Learning activity 2: Do I need it? Do I want it? (continued)12

Distribute catalogues, art and design materials, magazines, photographs or downloaded pictures from the internet. Ask each child to create a collage of all the things s/he would like to have in their dream bedroom. Allowing the children free rein to create a dream bedroom avoids the issue of children who share bedrooms with other siblings and the wide range of social and economic backgrounds that can be present in each classroom. Compare the various bedrooms that have been created and encourage the children to give reasons for their choices. You may suggest that the children create a model of their dream bedroom in a shoebox using paint, fabric, small boxes, wallpaper and other suitable materials. Ask them to provide an estimate of the cost of creating their dream bedroom working in whole pounds. Consider using the C2k programme Smart Spender to help the children plan the spending for their room.

My Bedroom

Give each child a copy of Resource F: What The Family Thinks to complete with a parent at home. Encourage them to give reasons for their answers. It doesn’t matter who writes in the responses. Compare the differences and similarities between the wants of the child and of the family member. Encourage the children to be respectful to all responses and be sensitive to the needs that have been identified. Reflect that material goods do not always bring happiness. You will look more closely at how we provide for our needs and wants in Learning activity 3. The emphasis on this activity is that we cannot always have what we want.

What The Family Thinks

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This activity is an introduction to the concept that most goods generally need to be paid for by money that is earned. Reflect on discussions that you have had so far concerning material needs. Ask the children where the needs that we already have in our lives come from. Ask:- Who pays for us to have what we need? - Where does money come from? - How is it spent? - What are the essentials that use money at home?

You might expect answers such as food, clothes, electricity or heat. For those children whose parents are employed, employers will provide a salary (monthly) or a wage (weekly). Be sensitive to those children whose parents are unable to work or

Who Provides?

are unemployed. In their case the government provides for basic needs but the issue to be emphasised is that our needs generally cost money that must be provided.

Discuss with the children how some people can provide food, clothes, electricity and heat needs without money. For example:- food is often grown in gardens or allotments or on family farms; - clothes are ‘handed down’; - a windmill can provide electricity; and - logs from fallen down trees or a turf plot can provide heat.

Discuss any savings that families sometimes have to make for example by cutting down on outings and visits, food carry-outs, magazines and comics or sweets.

Extension WorkIn your shared planning you or the children may have considered

inviting someone from a bank, credit union or building society to

come to tell you about what happens in their work. This may be

a good time to have the visit. You will need to liaise very closely

with this person to ensure their explanations are simple. One way

might be to create a role-play situation with the visitor acting as

the stage director. Share with the visitor what the children have

already done in this unit and what you hope to do later so that

s/he can relate their talk to your activities. They may be able to

arrange for your class to visit their place of work at a later date.

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Learning activity 3: Using money


We will learn that we should use money responsibly.

We will learn that money is earned through work.

We will learn that we do not need money to have fun.

CORE CONCEPT

An understanding of needs and wants forms a basis for making economic decisions and choices.

POINTS TO NOTEChildren need to understand that money can buy goods and services and is earned through work. Please be aware that there may be children in your class who have experienced financial difficulties and/or whose parent(s)/carer(s) are unable to work either through illness or unemployment. Be sensitive to the feelings of insecurity, embarrassment or exclusion that these children may feel.

WHAT YOU NEED- Fair Pair (Resource G)- Mother Hubbard’s Shopping List (Resource H)- In Our Family (Resource I)- My Plan (Resource J)- Flip chart paper- Coloured markers- Credit/debit card (optional)

WHAT TO DO- Introduction- Who Provides?- Carousel- Where Does The Money Go?

Introduction

Use Resource G: Fair Pair to introduce the children to financial language. Write the words on a Money Matters board or hang them from the ceiling. As you introduce each word, ask if someone can explain what it means. Building on the children’s prior knowledge, tailor the explanations on the resource to suit your children’s understanding.

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Encourage the children to give reasons or examples for their answers using the term, ‘Some people...’ rather than using personal examples. Reinforce the word and meaning before moving on to a new one. Review the children’s learning by giving each child a Fair Pair card from Resource F. Ask them to find their partner. Give each pair two minutes to think of different ways that they need to use money. For example, parking meters, vending machines, shops, shopping trolleys, dinner money, or school trip money. Then ask the children what happens to the money. You could expect responses such as wages/salaries, improvements, banks, credit unions or building societies. Challenge the children’s thinking and without allowing personal examples ask them to give you suggestions by using the words, ‘Some people...’

Who Provides?

Prepare five flip chart pages. Write one of the following questions on each page:- How do children get their money?- If children haven’t got enough money for what they want, what could they do?- You are with an adult who wants to buy something and hasn’t enough cash (coins and notes). What can you do?- What are the good points about using banks, credit unions and building societies?- What is not so good about borrowing money?

If you feel that your class is fairly financially aware you may consider substituting the last two questions with the following:- What are the good points about paying for something without cash (coins and notes)? For example using a card to pay. - What are the not so good points about paying for something without cash (coins and notes)?

Carousel

Some words may need greater explanation than that given on the resource. Where children have misconceptions about money you may decide to use the following questions to explore the issue:- Does everyone think this?- Is this true for all children/adults?- Does anyone have a different suggestion?

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Learning activity 3: Using money (continued)16

Organise the class into five groups. Assign each group to a flip chart page. You may need to discuss how adults pay without cash. You could say something like, ‘When people open (start) a bank or building society account they are offered a plastic card which they can put into a ‘hole in the wall’ at any bank or building society. If they use the correct code (which the bank has given to them) and they have enough money in their account then the bank will send a message to the ‘hole in the wall’ to give them the money they have asked for.’ Dispel any ideas that a person is in behind the wall! Tell them it works like a computer. If you wish, you could show the children one of your own bank cards. At this stage it is too early to talk about credit and debit.

Ask each group to spend two to three minutes thinking about their question. Then ask them to write their ideas on the page. When the groups have written their ideas, ask them to move on in a clockwise direction to the next flip chart question. Tell them to read what the previous group has written and place a tick at the points they agree with and an X at those they disagree with. Then invite them to add their own comments. You could play some money related music such as the Abba song, Money, Money, Money or the Beatles’ Can’t Buy Me Love to indicate when groups should move on to the next flip chart page. Continue this activity until every group has contributed to each flip chart page. Use the responses on the pages to challenge the children’s knowledge and understanding about financial issues that arise. Encourage discussion using questions such as those given in the Introduction of this Learning activity.

moneymoney

money

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Give the children a copy of Resource H: Mother Hubbard’s Shopping List. Ask them to complete this as a home learning activity. Explain that Mother Hubbard has nothing to eat and needs to buy some items. Discuss the brand names of the products that the children should research and have them adjust their list accordingly. It would be best to give two weekends for this to be completed.

When the children have completed their shopping list, use a suitable computer programme to record the results. This will enable the children to compare which shops give the best value for money.

Where Does The Money Go?

Explain that food is not the only essential item on a family’s budget. For example heat, clothes, insurance and cars are also major sources of expense. Ask the children to complete Resource I: In Our Family as a home learning activity with a family member. This will help them understand the major spending commitments for their family.

Explain home learning activity Resource J: My Plan. Ask the children to discuss with their family something that they could save up for and how they will acquire the money they need. Money is a sensitive topic so keep class discussion to a general level using the term, ‘Some people...’ rather than being specific. Finally, have the children work in pairs to compile a list of activities they and/or their families enjoy that do not cost money. Answers might include going to the park, climbing a mountain, gathering blackberries, growing flowers or having a friend for a sleep over.

Product

Price

Cereal (500g)

Butter (500g)

Potatoes (2.5kg)

Sausages (8)

Tea bags (80)

Instant coffee (100g)

Bananas (1kg)

Minced meat (500g)

Milk (1 litre)

Granny Smith apples (4)

Bread (800g)

Mother Hubbard’s

Shopping List

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Learning activity 4: Managing money


We will plan a class project.

We will implement a financial plan for a school event.

We will prioritise and keep within our budget.

CORE CONCEPT

Managing money is learned and comes best from real experiences.

POINTS TO NOTEFor this activity to be as real as possible the children will require an allocated budget. However, it is also possible to carry out the activity in a virtual environment.

In Year 2 Indigo Unit 7: People I would like to know, it was suggested that children visit a local garden centre. If the children in your class participated in this activity this is an opportunity to renew and extend their learning about plants.

This activity is adapted from Talk Money, Talk Solutions (2009 CCEA).

WHAT YOU NEED- Planning Information Sheet (Resource K)- Record Sheet (Resource L)- Gardening magazines- Catalogues showing gardening products

WHAT TO DO- Potty About Plants

Potty About Plants

Divide the children into groups. Explain that they have been allocated an imaginary budget of £200 to spend on plants to improve the environment around the school. The plants can be put in containers. The children have to:

- decide where the plants should go; - design an area for the plants; - research which plants would be best suited to the conditions of the position chosen; - consider ‘best value’; and- use, but stay within, their budget.

19

Give each group a copy of Resource K: Planning Information Sheet. Tell them to use the prices on the resource sheet. Also tell them that each container will require 10 litres of compost. Ask groups to decide which area in the school would benefit most from plants. Next, have them conduct a site survey to determine their requirements for the project, for example:- what tools they need to purchase; - how much money is left to spend on plants and compost;- how many containers of each type (small/ large) they want to use to give variety;- how many containers they want to fill with small plants (four to a container); and- how many containers they want to fill with large plants (three to a container).

Give the children access to digital and traditional resources to research the most suitable plants. Encourage them to think of the position of the containers for example, windy, sunny, sheltered, or shaded and to choose accordingly. Give groups time to discuss and

agree on their choices. Ask them to complete Resource L: Record Sheet and assign:- a reporter to present their group’s idea to the rest of the class;- designers to draw a plan of the completed area;- illustrators to draw the plants to be used; and - an editor to coordinate the final illustrated report.

Ideally the class would vote for what they consider to be the most suitable plan and the plan would become reality with the children organising its implementation, maintenance and review. Questions to encourage discussion are:- What ways could we save money?- How would we use the money saved?- Who could give us some advice? (For example bank manager, landscape gardener, allotment gardener, keen gardener, or garden centre staff.)- How could we use our learning to make more money?- How would we use the money we earned?

earnedpurchased


20

Resource APersonal Development and Mutual Understanding Blue Unit

Letter to Parent(s) / Carer(s) my school

21

Dat

e

Dea

r Pa

rent

(s)/

Car

er(s

)

In th

is u

nit o

f Liv

ing.

Lear

ning

.Tog

ethe

r. th

e ch

ildre

n le

arn

that

we

shou

ld h

ave

all t

hat w

e ne

ed b

ut

not a

ll th

at w

e w

ant.

They

als

o le

arn

how

impo

rtant

it is

to b

egin

to u

nder

stan

d ho

w to

man

age

our

mon

ey. W

e re

cogn

ise

that

talk

ing

abou

t mon

ey c

an b

e a

sens

itive

sub

ject

and

we

wis

h to

reas

sure

you

th

at w

e w

ill b

e ta

lkin

g in

gen

eral

abo

ut m

oney

and

mon

ey is

sues

, for

exa

mpl

e:-

good

s ar

e bo

ught

with

mon

ey;

- m

oney

can

be

sour

ced

in v

ario

us w

ays;

-

if yo

u ca

n sa

ve y

ou w

ill h

ave

mon

ey to

buy

mor

e th

ings

that

you

nee

d/w

ant;

- sp

endi

ng m

oney

is a

bout

mak

ing

choi

ces;

- yo

u ne

ed to

kee

p tra

ck o

f you

r spe

ndin

g an

d sa

ving

to k

now

how

muc

h m

oney

you

hav

e; a

nd

- pu

rcha

ses

shou

ld b

e pl

anne

d.

Mon

ey m

anag

emen

t is

an im

porta

nt li

fe s

kill

for e

very

one

and

incr

easi

ngly

so

as fi

nanc

ial d

ecis

ions

be

com

e ev

er m

ore

com

plex

. Unf

ortu

nate

ly s

omet

imes

chi

ldre

n w

ho h

ave

not h

ad th

e op

portu

nity

of

disc

ussi

ng m

oney

issu

es w

ith th

eir f

amily

gro

w u

p th

inki

ng th

at th

ere

is a

nev

er e

ndin

g su

pply

. Mon

ey

man

agem

ent s

kills

mus

t be

lear

ned

and

we

are

aski

ng y

ou fo

r you

r hel

p. Ta

lk to

you

r chi

ld a

bout

mon

ey

issu

es th

at y

ou fe

el c

omfo

rtabl

e in

dis

cuss

ing

and

help

them

reco

gnis

e th

at th

e va

st a

mou

nt o

f mon

ey

com

ing

into

the

hous

e is

spe

nt o

n fo

od, h

eat,

clot

hes

and

othe

r ess

entia

ls w

hich

will

var

y ac

cord

ing

to

your

fam

ily’s

nee

ds. T

o he

lp e

xpla

in y

ou c

ould

put

a p

ile o

f 30

two

penc

e pi

eces

on

the

tabl

e. E

xpla

in

that

if th

is is

the

amou

nt o

f mon

ey th

at c

omes

into

you

r hou

se, 1

0 w

ill g

o on

food

. Rou

ghly

est

imat

e ho

w

muc

h w

ill g

o on

hea

t, cl

othe

s an

d ot

her e

ssen

tials

. Let

you

r chi

ld s

ee th

at v

ery

little

rem

ains

for w

ants

. Ta

lk to

you

r chi

ld a

bout

the

way

s yo

u tr

y to

sav

e m

oney

and

how

you

pla

n fo

r wha

t you

hav

e to

spe

nd.

Talk

abo

ut h

ow h

ard

it ca

n be

to e

arn

mon

ey a

nd h

ow d

ifficu

lt it

can

be to

bal

ance

hou

seho

ld e

xpen

ses.

The

earli

er w

e te

ach

youn

g ch

ildre

n re

spon

sibl

e at

titud

es to

mon

ey, t

he b

ette

r the

y w

ill d

evel

op

resp

onsi

ble

attit

udes

them

selv

es. I

f mon

ey is

sues

are

nev

er d

iscu

ssed

they

may

beg

in to

thin

k th

at

talk

ing

abou

t mon

ey is

to b

e av

oide

d ra

ther

than

a w

ay o

f pla

nnin

g fo

r life

’s n

eeds

and

wan

ts. C

hild

ren

of th

is a

ge c

an u

nder

stan

d th

at d

ebt i

s m

oney

you

hav

e bo

rrow

ed a

nd th

at y

ou o

we

and

mus

t pay

ba

ck, f

or e

xam

ple

for a

mor

tgag

e or

car

. Exp

lain

how

you

pla

n to

pay

it o

ff, fo

r exa

mpl

e a

certa

in

amou

nt e

ach

wee

k/m

onth

. Exp

lain

that

som

etim

es it

can

be

very

diffi

cult

to h

ave

the

mon

ey to

pay

ba

ck w

hat y

ou o

we

and

so s

omet

imes

that

is w

hy y

ou h

ave

to d

o w

ithou

t a h

olid

ay, n

ew D

VD o

r ex

pens

ive

train

ers.

Exp

lain

that

som

etim

es y

ou m

ight

hav

e a

little

ext

ra m

oney

and

that

then

you

try

to

save

so

that

it w

ill e

arn

inte

rest

and

will

be

ther

e if

you

ever

real

ly n

eed

it. E

xpla

in th

at it

is g

ood

to h

ave

a ha

bit o

f sav

ing

even

a li

ttle

ever

y w

eek

if yo

u ca

n.

A c

opy

of th

e m

ater

ials

bei

ng u

sed

is a

vaila

ble

for v

iew

ing

if yo

u w

ish.

If y

ou h

ave

any

ques

tions

, pl

ease

do

not h

esita

te to

con

tact

me.

Best

wis

hes,

Cla

ss T

each

er

Inse

rt sc

hool

logo

or l

ette

r hea

d

my

scho

ol


22

Resource BPersonal Development and Mutual Understanding Blue Unit

Keep the Date InvitationDesign an invitation for someone at home or a close friend or relative that you think will be able to come to view our display. Remember to include all the information your guest will need, for example:

23

Invitationname of guest;

who the invitation is from;

reason for the invitation;

date of the event;

venue; time; duration; and

if there will be any

refreshments served.


24

Resource CPersonal Development and Mutual Understanding Blue Unit

What Do You Think?Look at the following items and decide with your partner if each is a want or a need.

25

Loaf of bread

Meal at home

Bed designed as a racing car

Designer t-shirt Bed

Caravan Minced meat Trainers Jeans Herring

Ensuite shower room

Designer jeans Lobster Potatoes Bath

Meal in restaurant

Brand name

trainers

Bottled water

House with five

bedroomsFillet steak

Supermarket t-shirt Chips Tap water Croissant


26

Resource DPersonal Development and Mutual Understanding Blue Unit

The ChallengeLook at the following items and decide with your partner if each is a want or a need.

27

Challenge

Your group has £50 to spend

for the class celebration. How

would you choose to spend

your money?

What will we learn?

We will work with others to

agree how to spend money.

We will think about the

consequences of our decisions.

We will work within a budget.

Your project plan will be successful if:

- the plan is carried out within budget;

- everyone in the class will benefit;

- other people will also benefit (perhaps next year’s class or another

class in your year group); and- you cooperated well as a group.

PurposeTo learn how to make good

decisions for using money. To use this experience to think

more carefully about using our

own and our family’s money.


28

Resource EPersonal Development and Mutual Understanding Blue Unit

Budget Sheet

29

Project title OverallBudget £50

Item Cost Balance


30

Resource FPersonal Development and Mutual Understanding Blue Unit

What The Family ThinksIn school we are learning about the difference between wants and needs. Please talk to your child about what we have learned in school and about wants and needs within your own family. We all have wants and we all have needs but we cannot have all our wants. We will each be discussing our list of wants and needs in class.

31

Family Member(Mum, Dad, brother, sister, aunt, uncle, Gran, Grandpa)

Wants Needs

Example: Dad 26’’ television in the kitchen to watch programmes while washing dishes.

Washing machine to wash everyone’s clothes.


32

Resource GPersonal Development and Mutual Understanding Blue Unit

Fair Pair Use the following money language and explanations to have the children form pairs.

BalanceDeposit

Save Debt

SalaryInterest

33

EarnYou receive money for work you have done.

DepositThis is the money you put into a bank or building society.

Borrow

This is money that you need to repay because someone has loaned it to you.

AffordYou have the money to pay for something.

SalaryThis is when money that you have earned is paid monthly.

WithdrawThis is when you take money from your account.

DebtYou have this when you owe money.

WageThis is when money that you have earned is paid weekly.

BalanceThis is the amount of money you have in your account.

Interest

This is extra money given by banks and building societies because you have a savings account. If you owe money it can also be added on to what you owe.

Statement

This is a piece of paper that is sent to you by your bank or building society. It shows the dates you paid in or took out money and how much each time.

Save

This is what you need to do if you are going to have money when you see something you would like to buy.

Bank Official

This is a person who works in a bank.

Receipt

This is a piece of paper given by a shop to show how much you paid for something.

BudgetThis is the amount of money you can safely spend.


34

Resource HPersonal Development and Mutual Understanding Blue Unit

Mother Hubbard’s Shopping List Please help your child to complete this sheet during your next visit to the local shop or supermarket.

Name of Shop:

35

Product Price

Cereal (500g)

Butter (500g)

Potatoes (2.5kg)

Sausages (8)

Tea bags (80)

Instant coffee (100g)

Bananas (1kg)

Minced meat (500g)

Milk (1 litre)

Granny Smith apples (4)

Bread (800g)

Mother Hubbard’s

Shopping List


36

Resource IPersonal Development and Mutual Understanding Blue Unit

In Our FamilyThe purpose of this activity is to help children learn that households have a budget that needs to cover essentials. The money for the budget comes from outside the house. The essentials take up most of the budget and sometimes do not cover them. In families with young children, there is often not much spare money for treats

and all spending needs to be carefully planned. To keep within a budget, you have to keep a close track on spending. Please talk to your child about what the financial priorities are in your family and help him/her to complete the boxes below:

37

Things we think children should save up for: Our major household

expenses are on:

Apart from keeping their rooms tidy, putting toys away and doing homework (which is part of how we work together as a family), in our house children can earn money by:

Things we think parent(s)/carer(s) should pay for:

This is a sample of some of the food we buy each week and the cost:


38

Resource JPersonal Development and Mutual Understanding Blue Unit

My Plan Please use the following to help your child plan to buy a suitable item s/he would really like.

I am saving for:

It will cost: £

I plan to have the money by:

I already have: £

I can add to this money by:

39

Item Cost Balance

This will be a record of my saving:

Amount Saved


40

Resource KPersonal Development and Mutual Understanding Blue Unit

Planning Information Sheet

This sheet is adapted from Talk Money, Talk Solutions (2009 CCEA).

41

Item

Plant containers (10 litres)

Small plants

Large plants

Trowel

Watering Can

Compost (60 litres)

Attractive rubbish bins

Estimated Cost Per Item (£)

15.00

3.00

4.50

4.50

4.00

3.00

10.00


42

Resource LPersonal Development and Mutual Understanding Blue Unit

Record Sheet

This sheet is adapted from Talk Money, Talk Solutions (2009 CCEA).

Item Details Total costCost per item

Number required

Name ofcompany

Plant container

Small plants

Large plants

Trowel

Watering can

Compost

Attractive rubbish bins

43

Williams, V. B. A Chair For my Mother: 25th Anniversary Edition (1984 HarperTrophy Rei Rep edition) 978 0688040741

Hoban, R. A Bargain For Frances (1992 HarperTrophy) 978 0064440011

Viorst, J. Alexander Who Used To Be Rich Last Sunday 1987 Aladdin 987 0689711992

Keats, E.J. The Snowy Day (1962 New York Viking Press) 0670654000

Axelrod, A. Pigs Will Be Pigs: Fun With Math And Money (1997 Aladdin) 978 0689812194

Mayer, M. Just Shopping With Mom (1998 Random House Books) 978 0307119728

Craig, J. What’s in the Piggy Bank? (2000 Troll) 978 0816763634

Wells, R. Bunny Money (2000 Puffin) 978 0140567502

Henkes, K. Lilly’s Purple Plastic Purse (1997 Scholastic) 978 0688128975

Berenstain, S. & Berenstain, J.The Berenstain Bears and Mama’s New Job (1984 Random House Books For Young Readers) 9780394868813

Berenstain, S. & Berenstain, J.The Berenstain Bears And Trouble With Money (1983 Random House Books For Young Readers) 978 0394868813

Hazen, B.S. Tight Times (1983 Puffin) 978 0140504422

Hall, D. Ox-Cart Man (1983 Puffin) 978 0140504415

Shaw, N. Sheep In A Shop (1997 Houghton Mifflin) 978 0395872766

Christian Aid www.christianaid.org.uk

Development Education: DEAwww.dea.org.uk

Development Education Projectwww.dep.org.uk

Personal Finance Education Groupwww.pfeg.org/Primary

Save The Children www.savethechildren.org.uk

Unicefwww.unicef.org

War On Wantwww.waronwant.org

Anything’s Possible (Enterprise Story Sack, 2006 CCEA) 1 90494908 8

Weir, L. Keep Going Brenda (Wise Up and Think series 2007 CCEA)

Let’s Celebrate (Ideas for Connecting Learning (ICL)Years 3 and 4, CCEA)

Hall, E. Let’s Talk: Dealing with Conflict in the Primary School (2003 The Churches’ Peace Education Programme) 1 903097096

Godfrey, J. Raising Financially Fit Kids (2003 Ten Speed Press) 978n1580085366

Mayr, D. The Everything Kids’ Money Book (2002 Adams Media corporation) 978 1580626859

The Liftoff Initiative Lift Off:(Amnesty International, INTO, UTU)www.liftoffschools.com

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