financial education

Financial EducationAGRUPAMENTO DE ESCOLAS GENERAL SERPA PINTO, CINFÃES

ERASMUS+ KA2 PROJECT – NUMERACY@ENGLISH

Financial Education & Curriculum

Financial education features in mathematics and non-statutory programmes of study for Citizenship and Personal, Social and Health education. As well as developing mathematical skills, pupils also need to consider their attitudes towards money so they can understand what drives the choices they make and how they will feel about the consequences.

Financial Education & Curriculum

Financial education also contributes to: -a broad and balanced curriculum; - helps prepare young people for the opportunities, responsibilities and experiences of later life; - and to Social, Moral, Spiritual and Cultural education.

Financial Education

Pupils acquire the knowledge, understanding and skills they need to manage their lives now and in the future, offering opportunities to explore some of the personal, social and emotional aspects of financial decision-making and responsibility.

Financial Education

It is this perspective that places financial knowledge and skills in personal and family contexts, recognising the impact money has on many important areas of our lives including our relationships, our physical and mental health and wellbeing, and our plans for work or career development.

Financial Education

As a teacher ask yourself the following questions:

• What is financial education?• What does financial education include?• Which topics and teaching activities are appropriate?• What does it look like in the classroom?

In the Classroom Children have very different experiences of money and its uses. Some will have little or no contact with cash and may not be involved in decisions about money, spending or saving. Others may be confident handlers of money and have an understanding of money-related issues.

Asking the pupils – simple baseline assessment techniques such as a focused question and answer session or creating a money word wall can give you a great insight into what children know and don’t know about money

Financial Education & Maths

- Mathematics and financial education go hand in hand. - At the most basic level, managing money involves calculations using numbers. Numeracy skills underpin all our interactions with money. Without them we cannot make fully informed financial decisions. - Financial topics also provide real-life contexts for mathematical learning as well as wide ranging opportunities for pupils to develop problem solving skills.- Mathematics is ‘necessary for financial literacy’ and in primary mathematics money is taught as a unit of measurement and in problem solving.

ACTIVITIES

Financial Education Kindergarten

TOPICS SUBTOPICS 1ST TERM 2ND TERM 3RD TERMBudget Planning and Management

Needs and Wants X X XExpenses and Income X

System and Financial Products

Payment Options X

Savings Savings Goals X X

TOPIC: Budget Planning and ManagementSUBTOPIC: Needs & Wants

MAIN GOAL: Understand the difference between what is needed and what is unnecessary

GOALS ACTIVITIES- Establish differences between "need" and "want".- Identify necessary expenses and unnecessary spending.- Understand that spend more than necessary may compromise the satisfaction of needs in the future.- Give examples of situations in which spending excessively can compromise future consumption.

- Cut newspapers, magazines and supermarkets flyers (ad images with products for sale).- Create a store inside the room with necessary goods and luxury products.- Distribute a small candy kit for each student and ask about: Who will eat it all at once? Who will save it for after dinner? Who will keep it to share with the family?- Visit a supermarket.

TOPIC: Budget Planning and ManagementSUBTOPIC: Expenses & Income

MAIN GOAL: Relate expenses & income

GOALS ACTIVITIES- Know what is income.- Know that income necessarily has an origin.- Know what is expense.- Learn that we need "to have" to "spend".

- Create drawings on jobs.- Create a piggy bank for each group of students. At the end of the day, they will receive a token according to their behavior, work and solidarity shown throughout the day - (income source).- Create a store inside the room - each group may buy "dreams" with the tokens of the piggy bank.

TOPIC: System and Financial ProductsSUBTOPIC: Payment Options

MAIN GOAL: Characterize means of payment

GOALS ACTIVITIES- Identify euro coins and notes.- Realize that the euro coins and notes are used to buy goods.- Simulate payments and change with notes and coins.- Know that the euro is the official currency of Portugal.

- Cut banknotes and coins.- Draw notes and coins.- Exchange money for goods at the store set up in the classroom.- Draw / paint the flag of Portugal and stick notes and coins there.

TOPIC: SavingsSUBTOPIC: Savings Goals

MAIN GOAL: Knowing what is saving and what are its goals

GOALS ACTIVITIES- Relate savings with the possibility of purchasing goods.- Identify situations where it is useful to have savings.

- Screening of the film "Up - High Adventure."- Talk about the importance of saving and dreams that money can buy or not.- Create an assembly with parents and students where they can speak and understand the importance of saving.- Create a piggy bank "The Savings Bank" with recyclable material for each student.

Financial EducationPrimary School


Needs and Wants X X XExpenses and Income XRisk and Uncertainty X


Payment Options X XBank Accounts XLoans XFinancial System XInsurance X

Savings Savings Goals X X XRights & Duties Financial Information X



GOALS ACTIVITIES- Establish the difference between "need" and "want".- Distinguish and exemplify necessary and unnecessary expenses.-Distinguish the long-term/ short-term needs.-Distinguish and exemplify consumption that provides instant gratification and consumption which is more lasting satisfaction.- Understand that spend more than necessary may compromise the satisfaction of needs in the future, exemplifying situations.- Recognize critically impulse buying.- Recognize the importance of living according to "their means."

- Apply pre-test- Worksheet of desires and needs (preparing shopping lists: essential goods / secondary goods).- Visits to convenience stores / supermarkets (enable real contact with goods and money; interview the owner - understand the process of selling / buying.- Dramatization in school (going to the supermarket).- Creation of a poster with different products in which students can separate "needs" from "wants".- Apply post-test.- Analyze / explore the pre and post-test.



GOALS ACTIVITIES- Understand the income concept.- Speak about different sources of income.- Establish the relationship between income and expenses, understanding the notion of balance.- Prepare a budget, identifying income and expenditure and investigating the respective balance.- Make decisions taking into account that the income is limited.

- Play "Let's learn how to manage money." Available at http://www.gerirepoupar.com/guito/

- Creation of a grid of priorities and spending that can be eliminated / reduced day- by-day.

TOPIC: Budget Planning and ManagementSUBTOPIC: Risk & Uncertainty

MAIN GOAL: Assess the risks and uncertainty in the financial plan

GOALS ACTIVITIES- Identify possible unexpected situations that may affect the family income.- Understand the need to establish an emergency fund in the family budget.

- Creation of a grid of priorities and spending that can be eliminated / reduced day-by-day.

- Construction of a piggy bank using recyclable material for each student / family – for an emergency fund. constitution.



GOALS ACTIVITIES- Understand the currency as a means of payment.- Simulate payments and give change in notes and coins.- Know that the euro is the official currency of Portugal and other countries in Europe and that there are other currencies, identifying them with the respective countries.- Recognize the importance of notes and coins to purchase goods.- Understand the historical evolution of currency.- Know the operation of debit and ATM card.- Identify operations that can be done in the ATM.

- Works on "The History of Money“.- Preparation of drawings / digital works and games on coins and notes.- Creation of ATM cards by the students themselves.- Visit an ATM.- Accessible interactive games in http://www.gerirepoupar.com/guito/- Reading: "The Ant and the Cicada“ and adapt to Financial Education.- Preparation of posters for the "World Savings Day".

TOPIC: System and Financial ProductsSUBTOPIC: Bank Accounts

MAIN GOAL: Understand how it works a bank account

GOALS ACTIVITIES- Know what is an account.- Tell reasons for having a bank account.

- Create conditions, with the support of parents, so that each student can open an account at a local bank.

TOPIC: System and Financial ProductsSUBTOPIC: Loans

MAIN GOAL: Characterize Loans

GOALS ACTIVITIES- Know what is a bank loan.- Illustrate reasons to apply for a loan.

- Act out in the classroom context – applying for a loan (reasons for doing so).

TOPIC: System and Financial ProductsSUBTOPIC: Financial System

MAIN GOAL: Understand the functioning of the financial system

GOALS ACTIVITIES- Know what is a bank.- Give examples of the different functions of banks (take deposits, make loans, facilitating payments by electronic means or by bank transfer, etc.).

- Prepare lectures / workshops, invite bank staff or graduates in Economics, to talk about some issues related to the Financial System.

TOPIC: System and Financial ProductsSUBTOPIC: Insurance

MAIN GOAL: Characterize insurances

GOALS ACTIVITIES- Know what is an insurance.- Give examples of different kind of insurances (school insurance, car insurance, etc.).

- Visit an insurance office.


MAIN GOAL: Know what is saving and what are its goals

GOALS ACTIVITIES- Understand savings as a way to achieve long-term goals.- Calculate the savings needs to buy a particular good or to accumulate assets over a period of time.- Understand the savings function as a precaution against the risk by addressing the foreseen and unforeseen fluctuations in income or expense.

- Creation of posters with saving tips.- Flyers with saving tips that will be sent to families.

TOPIC: Rights & DutiesSUBTOPIC: Financial Information

MAIN GOAL: Know that there are rights and duties in what concerns to financial matters

GOALS ACTIVITIES- Give examples of consumers’ rights and duties.- Know that you have the right to be informed in a clear and transparent manner.- Give examples of information that must be transmitted to the consumer in the purchase of a good or financial service.

- Works /flyers on consumer rights and duties.- Writing a letter of complaint.

Financial EducationPrimary School


Needs and Wants XExpenses and Income XRisk and Uncertainty X


Payment Options XBank Accounts XLoans XFinancial System XInsurance X

Savings Savings Goals X X XRights & Duties Financial Information X



GOALS ACTIVITIES- Understand the difference between "need" and "want".- Distinguish and exemplify necessary expenses and unnecessary expenses.- Distinguish the long-term short-term needs.- Distinguish exemplifying consumption that provide instant gratification and consumption which is more lasting satisfaction.- Understand that spend more than necessary may compromise the satisfaction of needs in the future, exemplifying situations.- Recognize critically impulse buying.- Living according to "their means."

- Preparation of a powerpoint with essential goods and secondary goods on a day-to-day.

- Development of shopping lists.

- Chips production with selection of essential / secondary property assets.

- Analysis of site activity:http://economicando.web.ua.pt/istoaquilo.php

- Creation of flyers on consumption and saving money.



GOALS ACTIVITIES- Understand the income concept.- Identify different sources of income.- Distinguish and exemplify expenditure incurred in household income and the allowance.- Distinguish fixed expenses to variable expenses.- Establish the relationship between income and expenses, highlighting the meaning of balance.- Prepare a budget, identifying income and expenditure and investigating the appropriate balance.- Make decisions taking into account that the income is limited.

- Creating a plan for the family budget.- Creation of a list of fixed expenses and variable expenses.- Creation of a grid for recording the daily living expenses, based on the performance / allowance.- Preparation of a powerpoint about spending attitudes that can be eliminated or reduced day-to-day.- Pamphlets on developing saving tips, based on the rational consumer and compulsive consumer.

TOPIC: Budget Planning and ManagementSUBTOPIC: Risk & Uncertainty

MAIN GOAL: Assess the risks and uncertainty in the financial plan

GOALS ACTIVITIES- Identify possible unexpected situations that may affect the family income.- Understand the need to establish an emergency fund in the family budget.- Develop a household budget that includes the creation of an emergency fund.

- Educational Game "Either this or that" at: http://economicando.web.ua.pt/ioa/ioa.swf



GOALS ACTIVITIES- Understand the functions of money (means of payment, unit of value and store of value).- Knowing that the euro is the official currency of Portugal and other countries in Europe and that there are other currencies, identifying them with the respective countries.- Recognize the importance of notes and coins to buy goods.- Understand the historical evolution of currency.- To know the operation of the debit card and its association with a bank account.- Identify operations that can be done in the ATM.

- Establish working groups according to the following topics: - History of money; - History of the Euro; - Different forms of payment; -Operations that can be performed in an ATM;

- Collection of information on the Dr. António Cupertino de Miranda Foundation websitehttp://www.facm.pt/facm/facm/pt/index

TOPIC: System and Financial ProductsSUBTOPIC: Bank Accounts

MAIN GOAL: Understanding the deposit account of the operation order

GOALS ACTIVITIES- Know what is an account.- Identify the main advantages of having an account and the costs associated with it.- Identify different types of movements that contribute to the increase or the decrease in the balance of current account.- Calculate the total account balance from the beginning and after a series of moves made.

- Lecture - invite a person who works in a bank to go to school.

TOPIC: System and Financial ProductsSUBTOPIC: Loans

MAIN GOAL: Characterize Loans

GOALS ACTIVITIES- Know what is a bank loan.- Understand the different purposes of the use of credit.

- Lecture - invite a person who works in a bank to go to school.

TOPIC: System and Financial ProductsSUBTOPIC: Financial System

MAIN GOAL: Understand the functioning of the financial system

GOALS ACTIVITIES- Know what is a bank.- Give examples of functions of banks (take deposits, make loans, facilitate payment via electronic means or by bank transfer, etc.).- Know what is an interest rate.- Identify situations that give rise to the payment / receipt of interest.

- Visit a Bank.


MAIN GOAL: Knowing what is saving and what are its goals

GOALS ACTIVITIES- Understand the savings as a way to achieve long-term goals.- Calculate the need for savings to buy certain goods or assets for accumulating a given period of time.- Understand the savings function as a precaution against the risk by addressing the foreseen and unforeseen fluctuations in income or expense.

- Conducting a poster calling for savings.

TOPIC: Rights & DutiesSUBTOPIC: Financial Information

MAIN GOAL: Know that there are rights and duties in what concerns to financial matters

GOALS ACTIVITIES- Know that there is legislation aimed at consumers of goods and services in general and consumers of financial products in particular.- Give examples of rights and duties of consumers.- Know that you are entitled to be informed in a clear and transparent way.- Give examples of information that must be transmitted to the consumer in the purchase of a good or service. - Recognise the right to complain, identifying situations that justify the claim.

- Production work / brochures / posters about consumer rights and responsibilities.- Write a complaint letter.

- Apply questionnaire - Annex 3.