Year 5's £5 Challenge!

This term, the children in Year 5 have been learning all about bank accounts, how to keep their money safe and interest rates linked to the Financial Curriculum. They really enjoyed learning real life skills and knowledge that can help them as they grow older and we decided to set them a challenge... For the remainder of the half term, the children have been put into groups, given £5 per team and have been tasked with setting up their own business!

Ideas have ranged from face painting, bakery businesses and card making. The pupils are hoping to bring their goods live to the public in the next few weeks and the team that generates the most profit will win and keep the profit they make (after repaying the £5 loan from the school, of course!).

Nathaniel, Elm class, said "The chance to put our financial skills to the test by running our own businesses is really exciting but we have to work together and be resourceful to make this work! I enjoyed learning about how profit is the revenue generated minus the expenses and I think this will be a challenge to keep our costs low!"

Stay tuned for more news and keep an eye out for the teams' advertisements for their businesses!