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Just to share...last year my eldest daughter was in her last year of primary school and came home with her usual homework. It was about money, wages, cost of living etc... basically the kids were asked to choose a job...any job. Once they did this they were then told how much that job would pay. Then they were told to choose a house to live in and shown how much each type of house cost. They where then asked to pay the bills....normal utility.

Some of the kids were already at this point broke as they had chose houses that they couldnt afford due to the jobs they had picked and the wages they would get paid.

I was quite proud of my daughter as she had done ok...although she was left with very little to live on each month....but when the kids who were broke got asked what they were going to do only 1 said sell up and get a cheeper house, the other 9 kids said ask the bank for a loan !!!

This was all done with alot of fun involved..the kids had to draw there house and had pretend money etc....but i thought it was a positive exercise.

What a refreshing story for a change! But there is a hidden thread in there, isn't there, as these are the credit seekers of the future. But I am, for one, very pleased to see a return to home economics within schools. It wasn't all about making rock cakes in my day either!

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From what my daughetr said they did then go through the differences in debit and credit cards...and also they did examples of how much a loan may end up costing you to repay.

Whenever i go shopping now she always says..."mum that is a debit card and not a credit card isnt it ?"....:lol

Rock cakes...lol...mine was pineapple upside down cake..xx

What a great idea. They should do it again in six months and see if they are more reserved with their house purchases.

It was the great victoria sponge for me, oh and I made the most horrible dress lol

ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

Sadly home economics was all about cooking when I was at school - I've no idea why I took it!!!

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Wow Bagpuss, I havn't heard of such a thing in primary school. I think that is such positive move forward.

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Thanks for posting that it really made me smile.

I believe that there is a new Government initiative which is aimed at providing a sound basis of practical financial knowledge to school children.

This is much needed and I applaud the practice of this in schools.


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Oliver

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I wish my children's school did that although they will be going to a new school next week so hopefully......

I think it is a really good idea to teach children about money and everything associated with it. Until recently my eldest two (8)thought that £1 could buy them each a sweet as well as one for their other sister and brother and still have money left over for mummy and daddy. At school they were using pretend money and the pretend sweets that they bought in pretend play were only 5 p each etc.

Now, when we go shopping, they always ask how much I have got to spend on the shopping and then they take the receipt and work out how much it did cost and what I have left. We also now on occassions write a mini shopping list and let them take a basket around the shop while I have the trolley and "buy" some shopping on their own (just things like the bread, milk, cereal). It works really well and is making them think that sometimes when I say no to something it is because it costs too much. (whereas 3 years ago I didnt give it much thought!)

Kerri [:)]
PS I also made pineapple upside down cake at school and will always remember trying to take it home on the back of my bike. Needless to say, most of it slopped out of the dish onto the road!!

Hello bagpuss,

Thanks for posting this. As the others have said, its good to see financial awareness being taught in schools. I have a parent-teacher evening at my son's school in a few weeks so will definitely ask if they do something similar.

Kind regards,
Terry Balfour
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What a brilliant excercise - If this was done again a couple of times though out their school life, what a different world it would be in just a couple of generations...

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Mike didnt you make a pineapple upside down cake ? lol
Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/