The children hold positions from cashier to Bank Manager. The children apply for jobs in the retail outlets and Bank and undergo a rigourous interview proccess, induction and training - organised in-house by the children. These enterprises are run entirely by the children; the adult staff were made redundant within a month of it opening!!
The children can earn 'money' (the schools currency is called the 'Kirt (K)' ), they open bank accounts to save money and buy merchanidise from the shops. The shops sell merchandise at prices ranging from 3K to 100K.
Getting full marks in a spelling test earns 1K so the children have to work hard!
They experience earning and the reward of long term saving for expensive items, over the immediate gratification of spending on cheaper goods, the school have modelled experiences based on real-life scenarios in the adult world, so the children even earn interest on their savings.
The objective of this school project is for children to understnd banking, money management, earning and saving at an age-appropriate level.
This project was chosen as the winner as its two aims; firstly being to teach the children about the key features of money management in order for them to prepare for ault life and to break the cycles in which many families find themselves in and secondly was to motivate a passion for work and learning, and to demonstrate to the children the connections between that an independence.
Congratulations to Nicky and all at Kirton Primary School on winning The Community Education Awards
"Money Management Award 2018!"