This week at Scholes (Elmet) Primary school, we have been learning about money. We have read books about money, learnt about credit cards, debit cards and certain bank accounts. Here we will tell you all about what we have been reading, learning and doing this week.
Credit and Debit cards by Lewis
Me and my Money Week is an important week at Scholes. We’ve been learning about credit and debit cards. The difference between a credit and debit card is that when you use a credit card you are using the bank’s money and you have to pay them back. A debit card is using your own money. We’ve also been learning about finding the best deals in a shop. You do this by dividing the weight by the price and then do it with another size and see which is best value. We’ve also learnt about how we can exchange pounds into other currencies such as Euros or US dollars.
Bank Accounts by William
As well as cards, there are also different bank accounts: basic accounts (accounts that don’t include interest or an overdraft), current accounts that adults use for every day life (they include negative interest and an overdraft) and finally savings accounts (they have positive interest which means that if you put lots of money in you will normally get money back – normally 5% of the money you put in). These accounts are for saving money up then spending instead of saving money immediately. We learn this so we know what to use when we’re adults.
Reading about money by Ava
This week, we have been learning about how not everyone has a lot of money. We read ‘No Money Day’ by Katie Milner. This book tells the story of a little girl and her mother who are struggling for money. This resulted in her and her mother going to a food bank. Her mother is uncomfortable about needing help to get food and is struggling to keep up with bills. This made us think about how privileged we are and that some people do not have the same things we do. We used this to think about needs vs wants.
The Big Interviews
What does Mrs Wadsworth think? By Stanley and Bradley
We interviewed Mrs Wadsworth who organised Me and My Money Week. We asked her some questions about it like if she liked it and how she learned about it. Mrs Wadsworth said she likes Me and My Money Week because it can teach you lots of knowledge about money and how important it is not to overspend. She said that it was interesting that children were so shocked by how expensive energy is. Mrs Wadsworth explained that she organises themed weeks alongside a teacher from another school and we have a money themed week every two years.
A Child’s View by Faith
Today, I’m interviewing Clara (Y4) to get her perspective on Me and My Money Week.
What do you think about Me and My Money Week?
I like Me and My Money Week because it’s different to everyday learning.
What do you think about the book ‘It’s a No Money Day’?
I like it because its always nice to hear different stories.
Do you like Me and My Money Week?
Yes because it’s fun.
How does Me and My Money Week affect you?
I think it’s great and it overlaps with maths.