Penny helps to teach children the value of money

PENNYWISE From left Grace Heather, five, Penny Mordaunt MP and Crystal Bailey, five at Corpus Christi Primary School. Picture: Allan Hutchings (131498-150)
PENNYWISE From left Grace Heather, five, Penny Mordaunt MP and Crystal Bailey, five at Corpus Christi Primary School. Picture: Allan Hutchings (131498-150)
Newbridge Junior School Picture: Maria Bujor

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YOUNGSTERS at a school in Portsmouth have been learning about the value of money –with the help of their appropriately-named MP.

Corpus Christi Catholic Primary School is taking part in My Money Week, which is supported by financial education charity PFEG (Personal Finance Education Group) and Barclays.

The aim of the week is to support teachers in educating young people about money through fun activities.

From Reception up to Year 6, children were taking part in money-related activities.

It included learning what coins look like and how much they are worth, from finding out where money comes from and why their parents work, to tasting food products made by different brands.

Penny Mordaunt, MP for Portsmouth North, visited the school yesterday to see what the children were doing.

She said: ‘It’s marvellous. It’s been great to watch them doing a real variety of activities and having a great time doing it.

‘It’s so important that they are equipped to be able to make decisions later on in life.

‘I have learnt today that they are already having to make those decisions now. Children have a lot of spending power.

‘Investing in that at a young age is something that they can build on later in life. It will stand them in very good stead.’

Claire Keech, Personal, Social and Health Education (PSHE) co-ordinator at the school, organised the week.

She said: ‘It aims to provide children with the ability to make decisions.

‘Children nowadays have got a lot of spending power.

‘The average age that children spend money online is 10 years old. Money is at the forefront of things.

‘The more you can encourage them to make wise spending decisions, the better. It’s never too soon to start learning about money.

‘The activities are fun and relevant for the children and that’s what helps them enjoy it.’

This week, the children will also be having an enterprise day at their school.

Each class is being given money to go out and buy products to sell at school.

The profits that they make will be put towards buying something new for the school.

‘They will have the decision on what to spend it on,’ added Mrs Keech.

‘That makes them realise the value of money.’