💶Money Awareness Week 💳

This week has been Money Awareness Week and we have had sooooooo much fun learning about it in Onyx Class.

Yesterday, we learnt that there are many ways we can pay for things. We investigated why we would use one method for some things and a different one for others eg a debit card or Apple Pay to buy your weekly shopping and standing orders or direct debits to pay bills.

Here’s what some of the children learnt:

“The difference between credit and debit cards. We didn’t realise that credit cards mean that we are borrowing from the bank and that they add charges onto this money so we end up paying back more!” Jack

“ You need to be careful with Credit Cards. It’s important to make sure you can pay them off straight away.” Sofiya

“You need to be careful with money and by doing a family budget it helps you to keep track of your spending and helps to reduce stress and anxiety.“ Maison

“Credit Cards are safer when buying things on line as they have more insurance.” Poppy

“Apple Pay and Google Pay are really safe as they don’t share the whole card number but only some of it so it is harder to clone than a card.” Mrs Booth

“You need to make good decisions with money.” Thomas

“There are lots of ways to pay online such as PayPal and Online Banking.” Sam

After this, we helped the Williams Family with their budget. We decided whether they should use a debit or credit payment for each item and discussed why. We though about the cost of each item, the time in the month, what made good money sense and why different people may make different decisions.