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What’s going on this week?

A mother from Northumberland recently spent £100 on a second-hand vending machine to provide an opportunity for her children to learn about money after getting fed up of them arguing over snacks and other items during lockdown.

Mother of four, Sarah Balsdon and her husband, Kyle, came up with the idea to provide the children with snacks in a way that also helped the children learn how to manage money.

 
Main question

How should we learn to manage our money?

 

Listen, think, share

Some things to talk about with a parent, brother or sister.
What do you know about vending machines and how they work?
Have you used one before? 
Do you think having a vending machine for snacks and treats is a good idea?
Would you like to have one in your house?

What do you think about pocket money and have you ever received it?
What age do you think children should start receiving pocket money (if at all)?
Why?

If you think that children should receive pocket money, should it be for completing chores around the house, or just given?

•Do you think it’s important for young people to learn to manage money?
Can you think of any other ways that you can learn about money alongside pocket money?

 Do you think you need to know more about how to manage money, particularly in current times?

Reflection

As we get older, we will learn to manage money.

Becoming a responsible adult means knowing how to take control of our finances, balancing the money coming in, with the money we spend.