How can we look after our money?

What are the ways you can think of to keep money safe? Is putting it into a bank the only way?

Perhaps think further about some of the moral dilemmas around losing, finding and keeping money. The ways in which these things make us feel and the things we can do about that.

Have you ever considered with children what saving might be for? Is it something we encourage them to do as an end in itself?

Building in a saving activity into the daily Maths problems could be a useful way of considering some of these issues. Focusing on how to keep track of the amount of money saved and how the amount we have has grown over time can help children to understand the benefits of sensible saving and spending choices. Maybe it will encourage them to begin saving with a purpose in mind and to keep track of their progress, considering how much they have, how much they need, and how long that might take to achieve their aims.

Talking to children about your own experiences of saving alongside helping them with their own bank, building society, credit union or via the school savings club if they are part of the Lifesavers programme could be the foundations of clear financial understanding later in life.

 

Thought for the day: What was the best savings tip anyone ever gave to you? Who else could you pass that on to today?

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What can we use our money for?

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Where does our money come from?