Money, it doesn’t grow on trees

Thanks to generous support from Leeds Community Foundation through the Fairhurst Fund, it’s been our pleasure and privilege at Flourishing Families to deliver our very first ‘Understanding Money’ activity-based mentoring programmes.

Not only are the children in our groups developing their creative skills though arts and craft projects, but also learning about money and how to manage a budget. Last week, local banker Hannah from TSB took the lead in guiding the children through a specially made workbook which had the group sketching out their answers to the questions ‘what is my dream job?’, ‘what would I buy with my first pay cheque?’ and ‘what would I like to save up for?’ We also learnt what a budget is and the difference between needs and wants when it comes to spending. Seems that we’ll have to hang on a bit longer for all those ponies, Ferraris and shoes!

Taking first steps in financial literacy also has a very practical side as the children are learning how to managing the arts and crafts budget for the rest of the term’s mentoring sessions!

This involves taking a look at the materials list for each session and noticing that some activities are more expensive than others, and that even the things that are always in the craft box – scissors, tablecloths, pens, needed to have been bought at some point. It’s up to the children whether they are thrifty at the beginning of the term and can save up for a special celebration at the end, or whether they blow the budget on lots of crafty treats and end up with weeks of recycled craft to finish. Good luck to all involved!