Guidance for Teachers

Taking stock

Before embarking on a programme of work which incorporates the use of Cha-Ching materials teachers may wish to audit and baseline pupils’ currently existing knowledge, skills and attitudes. Using the Financial Education Planning Framework can help to facilitate this.

The Financial Education Planning Framework has been produced by Young Enterprise to provide educators with an accessible programme of financial education. The framework encourages the development of knowledge skills and attitudes across four themes, namely:

  • how to manage money
  • becoming a critical consumer
  • managing risks and emotions associated with money
  • understanding the important role money plays in our lives.

PSHE education, mathematics, and many other areas of the curriculum will provide flexible opportunities for engaging with financial education; the framework will help to identify these opportunities and also ensure progression.

There are a number of ways in which the Financial Education Planning Framework might be used to facilitate auditing/baseline activities. Here are a few suggestions:

A. Get pupils talking. Ask them a simple question such as “What are the best ways to keep our money safe?” Facilitate a developing discussion which allows pupils to voice their thoughts, perhaps recording the session for future interrogation. Then use the Framework’s learning outcome statements to gauge where the pupils individually and collectively sit on the spectrum of learning. Do they, for instance, only consider spending the money or does anyone talk about saving or even donating to charity? Do they consider the use of money online? Have they heard of the concept of insurance?

B. Get pupils quizzing. Using the learning objective statements, put together a set of questions which will clarify pupils’ level of knowledge. The quiz can be carried out in a number of ways – on paper, in a game show format, through multiple choice - if you have access to an IWB this may be a good way of facilitating data collection. The following are a couple of sample questions to get you started:

  • Name two ways of paying for something other than with cash (Answers might include: Debit card, credit card, cheque, voucher, coupon, bank transfer, PayPal, Bitcoin, etc.)
  • What is the point of advertising on TV?
    • a) to show us how great life can be
    • b) to persuade us to buy something
    • c) to give us a chance to make a cup of tea during a programme break

C. Get pupils reading. Choose a text as a class reader which has finance as a theme. Use the opportunities which will naturally arise through questions and discussions to gauge pupils’ developing attitudes towards money and finance as shown in the learning outcome statements on the Financial Education Planning Framework. The following are some useful suggestions for relevant texts:

  • Billionaire Boy: David Walliams
  • Millions: Frank Cottrell Boyce
  • The Bed and Breakfast Star: Jacqueline Wilson
  • The Million Pound Note: Mark Twain
  • Kenzuke’s Kingdom: Michael Morpurgo
  • All The Money In The World: Bill Brittain
  • Trash: Andy Mulligan
  • On The Money (4 short stories): Various

D. Get pupils acting. Choose a core theme from the Financial Education Planning Framework which could form the basis of a piece of drama work (e.g. a family which has to manage its emotions when they suddenly win the lottery). Assign pupil’s individual roles within a scenario and observe how they reveal their knowledge, skills and attitudes through the improvisation, mapping these onto the Financial Education Planning Framework.

Planning work

Once you have decided which areas from the Financial Education Planning Framework you wish to engage with you should consult the Financial Education Planning Framework showing linked Cha-Ching lessons. This provides direct links from the framework elements to relevant lesson plans within the Cha-Ching suite of materials.

In addition each individual Cha-Ching lesson plan highlights which of the Financial Education Planning Framework elements are addressed in that particular topic’s set of activities.

Cha-Ching’s Family Zone materials aim to encourage engagement and participation at home, with 14 activities linked to 14 of the 16 Cha-Ching videos.

An audit might, for instance, reveal the need to cover the strand on the Planning Framework entitled “Using accounts to keep money safe and to save” (7-9 age group). The Cha-Ching video and lesson linked to this would be Saving For Success. This aspect is also further linked to the Family Zone activity Family Saving Challenge. If further development of the above strand were deemed desirable then video/lesson plan Just In Case is identified as relevant and this would in turn lead to the Family Zone activity Make A Money Box.

The big picture

While the videos and lesson plans in Cha-Ching can build sequentially, individual topics may also be covered by targeting the elements revealed by the auditing process.

Teachers will also wish to be mindful of the relevant aspects of the curriculum dealing with financial education particularly those statements contained within Personal Social Health and Economic education (PSHE) and Mathematics.

Although PSHE education is currently non-statutory, the national curriculum states that ‘all schools should make provision for personal, social, health and economic education (PSHE), drawing on good practice'. The PSHE Association’s Programme of Study provides guidance on how all strands of the subject should be approached. Core Theme 3 of the programme Living in the Wider World (Economic Wellbeing and being a Responsible Citizen) specifically sets out some of the financial education aspects which schools should address. At Key Stage 2 these are:

  • about the role money plays in their own and others’ lives, including how to manage their money and about being a critical consumer
  • to develop an initial understanding of the concepts of ‘interest’, ‘loan’, ‘debt’, and ‘tax’ (e.g. their contribution to society through the payment of VAT)
  • that resources can be allocated in different ways and that these economic choices affect individuals, communities and the sustainability of the environment across the world
  • what is meant by enterprise and begin to develop enterprise skills

All of the above elements appear in the Financial Education Planning Framework and are developed in the Cha-Ching videos and lessons and elements of the accompanying Family Zone materials.

Mathematics is a statutory subject within the primary national curriculum and a number of opportunities to engage with financial education appear directly and indirectly in its requirements. Primarily money is seen as a context through which concepts and operations such as calculations, decimals, percentages, ratio and units of measurement may be addressed.

A cross curricular or thematic approach may also be taken with the Cha-Ching materials. It might, for instance, be interesting to follow the “stories” of individual band members as they undertake their own learning curves about money matters. In this way a number of other subject areas, such as those listed below might also be drawn in. For example:

  • English: Discussion and debate about the financial dilemmas faced by the band members
  • Geography: As the band tour, what different currencies do they encounter around the world?
  • Art: Pupil's imagination might be fired by designing coins and banknotes featuring band members
  • Music: Creating a new Cha-Ching song about money should prove an interesting challenge. See Young Enterprise’s My Money Week microsite for details on their 2017 competition for pupils to create their own money songs.
  • Work related learning: Investigate how the band members are all following a career path to create their earnings and what aspirations each has for the future
  • Enterprise: Justin, in particular, has the entrepreneurial spirit and his activities might be used as a springboard for pupils’ own ideas

Involving home

Schools may wish to encourage further engagement with finance education at home through the use of the activities in Cha-Ching’s Family Zone. These may be used for flipped learning opportunities or the tasks could be set as formal/informal homework. Schools should, therefore, consider linking their MLE/VLE directly to the Family Zone and advise parents/carers of how best to use the materials and ideas contained within it.

Family Zone – Cha-Ching
Family Zone

14 activities that families can enjoy together exploring the concepts of Earn, Save, Spend and Donate.

To embed this signpost on your website, please add the following code into the relevant page:

<iframe width="100%" height="248" src="//" frameborder="0" scrolling="no"> </iframe>

Prudential plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute one of the world's leading financial services groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world. It has been in existence for over 168 years and has £599 billion in assets under management (as at 31 December 2016). Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.

Delivered by Investis – link to website (opens in a new window)