Building a whole school approach through financial literacy
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Building a whole school approach through financial literacy

I think financial literacy is important because that underpins
everything we do as adults. As a primary school,
it’s essential to start from kindy and go all the way through because it’s not something you
can just learn in one year level. You have to have a good foundation and build upon that foundation
as you move through school, and the Moneysmart resources
are helping our teachers and giving our teachers direction. We thought it would be a really exciting
approach to have a Moneysmart morning where all of our teachers and
students combined at the same time to really focus on financial literacy. In kindy and pre-primary, a lot of the teachers were
setting up play stations where they were having
their shop corners and they were engaging
their students with money the use of a cash register. From years one to five, we were using digital resources. For example, looking at advertisements and discussing what was
wrong in the advertisement and then correcting the math and then our year sixes were
doing their business plans with their profit and loss statements. The students are then responsible
for gathering the materials and then they come together
on the night market to sell and hopefully make
a really good profit. Me and my business partner have
decided to make quiet critters because most of the people
at the school are young and we thought that they
would sell well to them. So we had a $15 budget and I found many
things on the internet. Some went over the
budget with just one item. So we had to keep browsing
through shops, through the internet until we found a few items
that could fit within the budget. It’s so important that they’re learning
their financial literacy skills at a very young age. Children come with their preconceptions
of money before the age of seven and so many of 18 to 24
year-olds are ending up in debt. If you don’t learn now, then maybe when you get older,
you won’t know how to do it and you will struggle with
like, using things like just going to the shop
and buying your groceries. The increased use of the
Moneysmart resources within the school, I’ve seen teachers having
a more key involvement in teaching Moneysmart
in their classrooms. Traditionally teachers, when they teach money,
it’s all about counting coins, matching the coin to
the value on a worksheet, but there is a Moneysmart program. Resources are all there
at the click of a button. We wanted Moneysmart to be part of the integral program
throughout the school. We will be hosting this as an annual event
as part of our maths week. Having a whole school approach to
Moneysmart and financial literacy is really important because we are exposing kids to
things beyond just counting money and by having it done all at
the same time across the school, we’re really making it a focus and
an important date on the calendar.

About James Carlton

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