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Banking and budgeting basics is one of five lesson plans belonging to our primary school financial literacy content for ages 7-11 in P4-7 or Years 3-6 to teach children about money, whilst developing Core transferable skills. All resources in the suite have been awarded the Young Money Quality Mark. We recommend that you start with Samir’s birthday budget challenge and then complete the remaining four lessons in any order. Alternatively, you can use them as a standalone resource.
The Banking and budgeting basics lesson focuses on supporting children to understand basic banking vocabulary by matching the correct definition to each term, and take their income and expenditure into account to create their own budget. This helps to build positive money habits in the future whilst practising elements of maths.
The activity requires access to a screen and is designed to be completed as a class, either in the classroom or remotely. There is the option to use the short Online lesson film (4 minutes approx.) to deliver the second activity around budgeting and/or issuing the worksheet for independent work.
By the end of the lesson pupils will be able to:
If you want to increase your own confidence to teach young people about money, Young Money provide free e-learning training to teachers across Primary and Secondary education. In addition, National Numeracy has a free website which helps you practise and refresh your everyday maths skills.
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