Banqer

Today we had Simon from Banqer come and introduce this online banking tool to us. We all created our own accounts that have both an 'everyday' account and a 'savings' account. He talked to us about the purpose of each account and also helped us to understand different financial skills we will need when we are older - such as understanding expenses, savings, interest, loans etc.

To begin with, we are going to be setting up automatic payments to pay our class expenses and will be receiving income for our class jobs & for attending school. This afternoon we are going to collaboratively decide on what our expenses should be, and we will also brainstorm ideas for rewards we should be able to buy through using our savings (these might be things like 10minutes free time).

This is a great, purposeful tool that will help us to build financial literacy and learn about the importance of budgets, expenses, savings, income and may even lead us towards learning about interest. It would be great if you could have conversations with your children about this to support them in connecting our classroom finances with real life situations.

Also, just a brief reminder that each child's CV and cover letter for the classroom job they want to apply for must be in by 9am this Friday! This will support their weekly income for Banqer :)