A new team of Money Mentors led us through a lesson about 'Financial Risks' and, in particular, the dangers of borrowing money. We played a game which proved how easy it is to be addicted to gambling and that we rarely win. The lesson explained good and bad reasons to borrow money and which creditors are safe to borrow from. Mortgages and cars often mean people borrow from banks and building societies but that some other companies and pay day loans charge enormous levels of interest.
The team worked well together and made us all think of the pressures that our families can be under when managing finances.
Our new team of Money Mentors have been trained and delivered their first lesson today to their classmates in Class 11. Oscar, Joshua, Olivia and Olivia taught us about the 'World of Work'; about salaries, wages and how professions vary in salary. We learnt that doctors earn the highest of salaries due to the amount of training they need to do. We learnt that teachers earn more than firefighters and policemen. The average wage in Britain is £26,000 but Wayne Rooney earns £2.5 million!!
The next lesson teaches us the demands on our salaries from daily living. The whole programme aims to teach us the importance of being sensible with our money and the dangers of overspending and going into debt.
Our 'new' teachers did a fantastic job today and the whole class enjoyed their lesson.
Year 6 have yet again commenced our training to be Money Mentors. 4 children have been trained to deliver lessons to Year 5 in Class 10 about budgeting money within a household and the dangers of debt. Another 4 different children have been trained to deliver lessons to Year 6 in Class 11 to build on last year's lessons and, in particular, looking at the range of salaries for different professions and jobs.
Mr Souter from 'Debt Aware' has been so impressed with our commitment to the programme that he has recommended that St. Peter's should aim to become an accredited school.
Benjamin, Chenille, Leah and Matthew have taught Class 11 about professions and salaries. We explored which professions are highly paid and why other jobs are not paid as much. We were surprised at how much doctors earn but realised they are highly trained with the best qualifications and have lots of responsibility. There was much discussion and in the evaluations most children said the teaching team was great and that the lesson did not need to be improved.
New Money Mentors came forward to be trained and will then deliver new modules to us. Great job team!