# Money and the World of Work: Session 1

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Money and the World of Work: Session 1
Introduce yourself to the class. Ask the children what they think you do as a job. What makes them think that? (e.g. Clothes, manner). 5 mins. Explain that you, as a group of volunteers, will be leading their session today and that you hope they will enjoy and learn from it.

CURRENCY Activity One Explain that you are going to start the session by getting them warmed up, thinking about money! Look at the word ‘currency’ on the board. Ask the pupils what it means. Ask the class, in pairs, to name as many different types of currency as they can, and feedback to you. Write up on whiteboard or flipchart. Discuss how people used to exchange goods; how did they decide what something was worth? Recap that the currency we use in the UK is the pound sterling. Explain that we work in pounds and pence. Ask how many pence in £1. (Extension) How many pence in £0.5?

Pounds and Pence Each letter of the alphabet has a value. How much is your name worth? A B C D E F G H I J 1p 2p 5p 10p 20p 50p £1 £2 £5 £10 K L M N O P Q R S T £20 1p 2 5p 10p 20p 50p £1 £2 £5 U V W Y Z £10 £20 13p 1p 2p Explain that in the next activity the children have to work out how much there name is worth according to values that have been given to each letter of the alphabet. Using the chart on the board, make up an example to show to the children. E.g. IQBAL is £5 + 10p + 2p +1p +1p = £5.14 Hand out the worksheets (there is one easy, one harder version- the teacher will be able to advise which to give out to whom). Volunteers to support on each table. Extension: add surnames.

Pounds and Pence Each letter of the alphabet has a value. How much is your name worth? A B C D E F G H I J 11p 2p 25p 99p 15p £0.50 £1.03 £2 35p £8.75 K L M N O P Q R S T £0.61 16p £1.50 235p £2.70p 90p 50p £0.05 30p 63p (this is the harder version- skip through the slide). U V W Y Z 27p £15 13p 118p 2p

Needs and Wants Get into pairs or small teams and start to sort a number of the property cards into two piles; ‘Needs’ and ‘Wants’. Extension: put the cards in order according to price and estimate how much each one is worth. What would you choose to buy if you only had £5? Activity Two Talk to the class about the fact that we have to make choices when spending money. (e.g. Some things we need in order to be healthy/clean etc, and some things are a luxury, e.g. Jewellery- they are things we want but don’t need) mins In teams of 4, with the support of volunteers, teams then sort the cards into ‘NEEDS and WANTS’ through discussion. Briefly feedback as a class.

What would you do? There is a new computer game out on Monday; it costs £40 and you desperately want it. You only have £30 though, and your brother offers to lend you £10 if you pay him back £15 next week; once you’ve been given pocket money by your parents. Activity Three Explain that sometimes the choices you make are difficult ones and can involve borrowing money. Look at the scenario above and discuss what you would do as a class. Point out that If they wait a week they would get the game for £40 rather than the £45 it will cost if borrowing from brother. What are the benefits of getting the game straight away? Can you afford to lose £5? What else you could spend that £5 on?

What would you do? Each team will be given 3 to 4 problem cards.
With your team leader or volunteer, have a discussion to find a solution for each problem. Choose a spokesperson for your team to report back on your ideas. Hand out the scenario cards to the groups of pupils, and volunteers support in discussions. (15 minutes. )

Summary People all around the world use different currencies to buy and sell things. We have to make informed choices about the way we spend our money. Next time we will look at how Money works in the world of work! Go over what you have learnt with the class today and explain that, in the next session, they will be visiting you in your offices to learn about the work that you do!

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