How do our spending choices affect others around the world? This activity gives pupils the opportunity to explore the concept of ‘fairness’ and engage with real-life dilemmas about how to spend money ethically. They will develop an understanding of some of the ways supermarkets merchandise goods and can make informed spending decisions. It provides a rich context for mathematics, through a subject that is relevant to their lives.
Introduction
Theme |Becoming a critical consumer
Encourages children to think about spending money ethically, and make spending decisions based on all the information about products.
Themes
This activity will cover the following themes from the Young Money Financial Education Planning Framework:
- Becoming a critical consumer: decisions about saving and spending
- Becoming a critical consumer: spending and saving priorities
- Understanding the important role money plays in our lives: Helping others
Learning objectives
This activity will cover the following learning objectives from the Young Money Financial Education Planning Framework:
- I know that the decisions I make about saving and spending my money can be influenced by, and have an impact on, other people.
- I am beginning to understand that different people have different attitudes to, and feelings about, saving and spending money.
- I can make spending decisions based on my priorities, needs and wants.
- I can explain how my spending decisions can help support others e.g. buying Fairtrade products, using charity shops.
Quality Mark
The Financial Education Quality Mark gives educators confidence that the financial education materials they are using are of the highest educational value, contain accurate and up-to-date information and are engaging and relevant for young people.
About this activity
Timing: 30 minutes
Key vocabulary
budget, buy, cheap, fair trade, money, price, quality, quantity, spend, value
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