The children in Year 5 have had an invaluable session with Mr Souter today. They have been learning about how to manage money. They were first introduced to two key words ' WANTS' and 'NEEDS'. They then sorted a list of items into two categories; WANTS', such as a new mobile phone, new trainers, new bag etc. 'NEEDS', food, warm clothes, roof over our head and reading glasses.
We then looked at different types of bank cards and how easy it was to get hold of a credit card. But after learning about the huge interest that can mount up if you can't pay off the money that you borrowed, the children decided that it wasn't a good idea to have one. The moral of the session was to only buy the things that you need and are essential not what you want because it has been advertised and it looks great.
