'Grow a Pound' Savings Project
Tuesday 12th October was National Savings Day and we have challenged children to undertake an ‘apprentice’ type challenge, called ‘Grow a Pound’. The aim of this is to encourage your child(ren) to think about how they could earn money towards an exciting visit or a class project. They will be able to see how maths applies to real life contexts and it will help them develop the skills needed to budget and save in the future.
All children have each been given £1, kindly gifted to the school by The Credit Union. Each class will spend time planning their ideas on how to ‘grow their pound’ and invest their £1 to make more money. They will then have 4 weeks to turn their pound into more money.
By the end of the 4 weeks, there will be a celebration assembly. The top 3 children who have made the most money will get their money doubled! The money they earnt will be put together towards a class prize and the money given to them for their efforts will be used to open up a savings account in their name.
It is fundamental to this challenge that children do not get given money that they have not earned. The idea is to ‘do something’ to make their money grow. Children must not directly approach strangers, nor undertake any activity without permission from a parent or guardian. They must keep accounts so they are able to explain what they spent and where their income came from. Photos of their ideas in action would be fantastic. These can be uploaded to your child’s class Seesaw page.