Financial Education

Financial Education
 
At Nancealverne we are committed to embedding financial education across our curriculum.  Within school, in addition to discrete teaching sessions, we offer opportunities to engage with real-life learning through the School Bank, Tuck Shop and participating in nationwide Money Week activities.
 
We are currently working towards attaining Financial Centre of Excellence Status with Young Money (formerly Pfeg).
Our Vision Statement
 
Financial education is a key life-skill and all pupils need access to regular, high quality, real-life learning opportunities to develop their knowledge and understanding.
 
It is the aim of our school to equip pupils with the skills and confidence to enable them to manage their money successfully and to make informed decisions, but also to know where to get help when they are unsure.
Nancealverne School Savings Bank
 
On the 30th January, in conjunction with Kernow Credit Union, we launched our own school savings bank.  It takes place every Tuesday morning in the hall and is open to pupils, staff and parents/carers.  The aim is to provide valuable teaching and learning experiences in as 'real -life' an environment as possible.  Pupils come along, fill in their own deposit/withdrawal forms and sign them (as far as they are able), queue up to see a cashier, and deposit/withdraw money.  Updated savings records allow them to see how much they are accumulating on a weekly basis - some pupils have visually based records to increase their understanding.   
 
Now the bank is established we have started to employ Key Stage 4 and 5 students to work alongside staff, learning valuable financial management and people skills.  They provide support to students, help with filling in deposit/withdrawal forms, taking money and recording details of transactions. 
 
Background to launch
 
Last year we carried out some research amongst parents/carers and pupils and found that, whilst many pupils had bank accounts, they were often managed by parents/carers and therefore pupils were not developing their skills in understanding and using money, or saving and spending.  So, as a result, we thought it would be a good idea to start a bank in school to allow pupils to develop these skills. 
 
The bank has been very successful to date, with around a quarter of pupils having an account and most of those saving regularly.  Watch this space for developments......
 
Joining the school bank
 
If you would like any more information about the bank or would like to join, please download a form here or ask Nikki Messham for more information.
Nancealverne Tuck Shop
 
 
Class 6 (with helpers from our other Key Stage 3 class, Class 7) run the school tuck shop.  All pupils take part in the enterprise, either through stock counting, shopping and cooking as well as helping to set up/put away, serving customers and managing monies taken.   The tuck shop opens once a week on a Thursday morning over break and is run as a café, allowing space for pupils to sit and eat their purchases and socialise with their peers.  As well as providing a good range of healthy snack items, tuck shop offers toast and a home made special every week. 
 
The tuck shop is extremely popular with both pupils and staff and allows pupils to develop their money skills in a safe, supportive environment.  It is particularly useful in developing a sense of value as pupils have to make difficult choices with their limited funds.  Proceeds from the tuck shop are used to fund school trips/resources for Class 6 as well as charitable donations.  Decisions as to what to spend the profits on are made by the whole class.
My Money Week (June 2nd - 9th 2018)
 
Nancealverne school joined many other schools nationwide to participate in Young Money's My Money Week.  The theme this year was 'Decision Making'.  We extended this idea to incorporate Enterprise on a charity theme.  

We began the week with a whole school assembly to see the scene and talk about the aims and objectives of the week.  Nikki presented information about three different charities and pupils were encouraged to cast their votes in our voting bins.  It was a close contest and in the end, we chose two charity partners for the week - Cornwall Hugs Grenfel and Footsteps for Freddie. 
 
Next, each class was tasked to come up with an enterprise that would raise as much money as possible for the charities, with a view to showcasing their ideas/selling items at a Money Week Fair at the end of the week.
 
Classes embraced the challenge and came up with some fantastic ideas.  The week incorporated loads of financial learning, from budgeting to attitudes and feelings about money and there was a real buzz across the school.
 
Many thanks to all the parents and carers who attended the fair at the end of the week - we hope you enjoyed it as much as we enjoyed showcasing our achievements!   The mammoth £180 we raised is due to be presented to the charities in an assembly before Christmas - more photos to follow.