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Year 5 - Financial Education Week

Financial -Education

During Financial Education Week we spent time looking at money in closer detail. We questioned: 

How do we get money? We learnt that there are many different ways of getting money, although these might not always be in honest ways. 

Why do we need money? We know we need money to buy things but do we always need the items we buy or do we want them? 

How do we keep our money safe? We decided it would be the safest option to keep our money in a bank or post office where it would be kept in a secure safe rather than in a money bank or under the bed where others may find it. 

We discussed different scenarios involving money e.g. what would you do if you found £20 on the floor? Would you give money to a person begging on the street? 

We developed our vocabulary learning the meaning of words such as inheritance, debt, interest, mortgage, loan, etc. 

To complete Financial Education Week each class had to find a different way to raise money. 

Dosbarth Taliesin decided to raise money by creating a Talent Show. Each entry paid 50p and those who didn’t want to participate paid 20p to watch. Everyone thoroughly enjoyed an afternoon of entertainment with singers, musicians and comedians. We found out that Taliesin certainly DOES have talent. After calculating the profit and loss (a prize for the winning act) a profit of £10.70 was made. 

 

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