Staff at the school keep up-to-date with current financial affairs- both effecting the primary education sector and the whole economy. In terms of the budgeting activity carried out, this cross curricular activity of Personal, Social, Health and Economic Education enabled children to become ‘critical consumers’.
This project aims to equip students with real life skills, knowledge and confidence in money issues through cross curricular activities. We use a variety of assessment strategies such as the Learning About Money Primary Planning Framework. Our objectives were set based on four core areas of learning (how to manage money, becoming a critical consumer, managing risk and emotions, how finance plays an important part in peoples lives). At YJS we incorporate Personal Finance Education in many areas of the curriculum. One of the ways we have been able to do this is through the development of our own currency (Yeadoes) and banking system to practically teach children about managing money.
Our board of directors (year 6 children) run the bank; children save earned Yeadoes in a current account and they can earn interest. Each week, children receive Yeado payments. Each child has a bank book and an account on the school network (MS Excel spreadsheet). Class bank managers and assistants are responsible for monitoring bank transactions and receive ongoing ‘training’ from the Board of Directors. Every pupil has the opportunity to record weekly earnings and to use numeracy skills. In this way, financial education objectives in Maths can be made ‘real’ for pupils because they are considering how they use their ‘money’.
All classes have a ‘My Money/Bank of Yeading’ display. Each pupil has a bank account (on the school’s computer system and a physical bank book) and a personal finance workbook used with Metro Bank whom Yeading Junior School have built a long term relationship with.
Personal Finance Education at Yeading Junior School has grown from introducing a banking system to children developing their knowledge about loan sharks and applying what they have learnt to everyday life. Children’s confidence has grown in personal finance and the increase in the number of parents participating in personal finance courses at the Community House not only reflects their interest to learn, but also their commitment to supports their children’s learning at the same time.