Money vs Value

Why is money such a hard topic to teach?

Because:

• We don’t use money very often

• Its not relevant for most children until they are teenagers and want independence

• Current textbooks are fixated on the ‘change you get from’ questions

• We teach sums with money but forget to teach value

• We don’t talk to our kids about money enough

• KS1 questions use unrealistic values… the ball is 5p, the cake is 10p

• Children don’t get enough responsibility for money or making decisions about money

• Children believe that money grows on trees

• Children (and some adults!) think you don’t need money when you have a card that goes ‘beep’

They just don’t see the importance of money

We need to teach money differently.  We need to relate it to life.  We need to focus on value.

Find the template for the Value Mats in the Membership Resource Library, Level 2 content. [2L2.17 Recognise, order and understand the value of all coins and notes in the context of the real world]

We need to focus on this type of question:

• What can I get for £1?

• What gets me more of what I want - £2 or £20?

• I have £10. Have I got enough to go to the cinema?

• If an apple is 50p, why is an apple pie £5?

• Should I choose the £5 pizza from Tesco or order the £15 pizza from Dominos?

Understanding the value of money is a life skill. If you don’t understand value, someone can take advantage of it.

So, whilst the standard maths curriculum still wants you to work out the change you get from £1 when you buy two chocolate bars, at home you should be asking the question ‘Would £1 be enough to buy two chocolate bars?’

Let’s make sure our children know the true value of money.