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The Setup of W.S Bank Inc (depending on your school name) Author: Mr L

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In Term Two, 2011 the children in Room 19 will learn about Financial Literacy skills through having a class bank. The bank will teach the Year 4 students about money handling, saving, interest, addition, subtraction and multiplication skills. Mr L has been using the class bank idea each year since 2003! Last year the bank ran very successfully with Year 5/6 students. Each child started with a small bank account balance of 10.00. Through careful management each child had to manage their account balance using both a computer, calculator and a paper record to ultimately become the highest earning boy or girl. There were many things to tempt each child into spending their money, like spectacular and delightful treats from the F.P.A bank shop or in 2009 the amazing auctions that were held. The children were introduced to the idea through a PowerPoint presentation. One of the first steps was to learn how to complete their account record and to design the money that would be used. THE HISTORY

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Each child received their very own account record. Each and every transaction had to be recorded here. Regular record checks were held. If a childs balance matched the teachers master computer record, then they received bonus cash. If it wasnt up to date, then a spot fine had to be paid, a penalty fine if the child did not have enough cash (this fine was doubled and taken from the childs account Children learnt to be responsible for their own account management a valuable skill for adulthood!

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Amelias Account Graph Record You saved: $5,653.00 You saved: $8,406.00 Abdel Wahabs Account Graph Record Selenas Account Graph Record You saved: $5,213.00 You saved: $8,074.00 Emanouels Account Graph Record

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Some sample computer records...each childs paper account had include each transaction from when they visited the bank and they had to use numeracy skills to calculate the balance each time! Each child had their own paper account record, which they had to keep up to date. This had to match the teachers copy on the computer.

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So what have the Kids Learnt? A.Addition, subtraction and multiplication skills with money B.Valuable money skills C.Managing a budget your account D.Team work skills E.New Maths concepts like percentages and interest F.New words and their meanings And a whole load more!

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In 2009, Mr Mark brought in a special cash box with a lock to keep all the notes safe and sound. Below is a photograph showing all the childrens computer records. Mr Mark is about to check that everyone has an up to date record. I wonder who isnt up to date?

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Each child received a Visa card. They quickly learnt that credit cards, whilst handy, are not always the best thing to use! Some children paid set up fees for their own businesses. Most were a real success and the children involved made lots of money. Everyone remembers John- Pauland Emmanouels delicious muffins!

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An advert will go out shortly asking for students from Mr Ls 2010 class to apply for position of Bank Teller. Unit Plan WS Bank Guidelines 2011