On Friday, 每日探花鈥檚 Fourths (Year 7s) enjoyed a full day of activities designed make them more savvy with their financial planning.
In sessions run by Burfields House Wealth Management Ltd, pupils learned how to manage and grow their money, how to budget, how to save and invest and explored ideas surrounding risk and reward.
They had four gameplay sessions to attempt to grow their money 鈥 starting with a (fake) 拢500 each 鈥 or potentially lose it if they weren鈥檛 careful. The winner was the pupil with the most money at the end of the day.
The day was as entertaining as it was educational, with Fourth pupil Sylvia saying: 鈥淚 really enjoyed investing in the bank and making money in the games!鈥, while her team mate Tessa added: “I loved learning about how to spend and save up money and to never trust anything too good to be true. I think that it will really help me in the future.”
Pupils measured their own income on a 鈥榖ank statement鈥, earned interest on their deposited savings, and were able to lend and borrow money between each other 鈥 once they had signed their agreement to the terms and conditions.
“The teachers gave us instructions for how it worked and then we went off playing games,” explains Isabel, a pupil. “We added money when we won and took it away when we played. Some of the games were risky and others you were in control of winning.”
The sessions demonstrated the value of setting financial goals, budgeting, mini-budgeting, saving, investing, and allowing money to earn interest, as well as knowing the risks before lending out money.
“It was really fun and educational,” another pupil, Olivia, said. “I loved playing the games to win money and it was interesting finding out about scams and money management. I also found out about how interest works!”
Thank you to Burfields House for leading an informative, fun and immersive day.