Toy Time

You might choose to use the Primary Planning Framework to assess the current financial education knowledge and understanding of the children who attend your setting.

I am beginning to understand that people may make different choices about how to save and spend money.

Needs And Wants

What’s it about?

needs and wants may be different to I can explain the difference between something that I need and something I might want.

And Emotions Associated With Money

money in different places, and that than others e.g. in a money box

Toy Time

I am beginning to understand that we might not always able to have the things we want.

The theme of ‘toys’ is a great way to teach financial education. the cost of buying toys and how long it would take to save up them to understand, in the wider sense, that they can make choices to spending and saving and that others may make different

Looking After My Money

Key Themes

I can choose a suitable place to keep my money safe, and explain my choice.

Being a critical consumer: Choices about saving and spending

I am beginning to understand the consequences of money or having it stolen, and how it might make me

• I know I have choices about saving and spending my money.

Saving Money

• I am beginning to understand I might run out of money unexpectedly if I don’t keep track of it. Being a critical consumer: Wants and needs money to use later instead of I can describe why I might want to save my money e.g. for something special or to buy a present for someone else, and where I might save it e.g. cash at home, in a savings account.

• I am beginning to understand that people may make different choices about how to save and spend money.

I am beginning to understand why saving money can important and how that makes me feel.

If you wish to further support children’s financial education, beyond what is outlined in this guide, then you can use this framework as a guide to teach children about money. Here is an example of how you might choose to do this…

How it works…

1. Show children the Toy Collection template, but hide the price tags. Ask the following:

The Important Role Money Plays In Our Lives

Step 1 Step 2

- Do they know how much it costs?

3. Ask children to share

- How many toys did Do they need all of

Choose an objective from the framework that you would like children to achieve.

- Do they think it is expensive or affordable?

I can describe where my money comes from.

WHERE MY MONEY COMES FROM comes to me in different ways e.g. borrowing, finding, being given.

Ask children to work together to order the toy pictures according to which they think would be the least to the most expensive. Reveal the cost of each toy and ask children if any of the prices were surprising.

How Money Developed

Example Objective: Needs and Wants developed in many different forms barter, coins, notes, etc.

I can explain the difference between something that I need and something I might want.

Create an activity (or number of activities) which will help them to practise and achieve this outcome.

I understand that money will come to me in other ways the future e.g. being paid for working.

Example Activity:

I can describe the many forms that money comes in today, and the variety of ways in which it can be used to pay for things.

2. Using the pictures from the Toy Collection template, place children in pairs and give them a sum of money e.g., £10 (you can use real or plastic money or use the coins and notes template).

- If they spent all the why did they make Ask each pair to tell their reasons behind Explain that people about saving and spending choices affect people on their circumstances.

Bring in a range of items and ask children to group them according to whether they are needs or wants. Ask children to discuss their ideas and help them to think carefully about the difference between a need and a want.

I understand that money will continue to develop in variety of forms in the future.

Ask each pair to add up the money they have been given and then discuss which items they would choose to buy with that money. Once they’ve decided what they would buy, ask the