Starter quiz
- Tick the items that can be afforded with £5
- Toy car £5 ✓
- Ice Cream £1 ✓
- Cuddly Panda £7
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- Tick the items that you would need to save up to be able to afford if you only had £5
- Sunglasses £5
- Cinema ticket £7.50 ✓
- Feed the alpaca experience £10 ✓
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- A ticket to the zoo costs £12 and you have £5 in total. How much more will you need to save to be able to afford to go?
- '£7' ✓
- Which of these describes a bank?
- A place you can go to borrow a book.
- A public building where you can swim and do other sports.
- A place or organisation where you can keep or borrow money. ✓
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- True or false? Money always makes you feel good.
- True
- False ✓
- Which of these helps you to buy more expensive things over time?
- Saving ✓
- Spending
- Giving
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Exit quiz
- What does the word barter mean?
- To swap goods or services for other goods and services without using money. ✓
- An organisation that provides financial services, for example keeping or lending
- To pay at a till for something.
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- What does the word exchange mean?
- To save up enough money to buy something expensive.
- An organisation that provides financial services, for example keeping or lending
- To give something to somebody and receive something of equal value in return. ✓
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- Why did people start to exchange shells, beads or coins?
- Because they were smaller and more portable. ✓
- Because they were valuable objects.
- Because people liked to collect them.
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- Why were banknotes invented?
- Coins were always getting lost.
- You can fold and cut banknotes.
- Lots of coins could get too heavy to carry. ✓
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- Which type of payment is the oldest?
- Banknotes
- Cheques
- Coins ✓
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- Which type of payment is the newest?
- Cheques
- Contactless cards ✓
- Shells
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Worksheet
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Presentation
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Video
Lesson Details
Key learning points
- Money was invented as trade developed.
- Money is more than just coins and notes.
- Money can be exchanged electronically.
- Banks provide a way to keep your money safe.
Common misconception
Pupils might find it hard to understand the idea of money not being physically represented but still recorded using a bank account.
Ask children to share their understanding of bank accounts first. Try linking the concept of a bank account with videogame points systems or currencies to help children relate.
Keywords
Exchange - To give something to somebody and receive something in return.
Barter - To exchange goods or services for other goods and services without using money.
Bank - An organisation that provides financial services, for example keeping or lending money.
Account - An arrangement with a bank to keep money there and to record what has happened to the money.
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