As a new initiative to teach children about money in the real world, Edenhurst has introduced economics and finance as a new subject onto the curriculum.
Prep 5 and Prep 6 students have been enjoying learning about financial decision-making and how to make the best use of resources such as money and time. Their first challenge was deciding what to buy with one million pounds—a question that led to lots of discussion about Ferraris and mansions!
To enrich their learning, three excited pupils were taken on a shopping visit to Aldi to see their budgeting skills in action. Before purchasing ingredients to bake cakes for the Macmillan cake sale, they calculated the required quantities and unit prices for each ingredient, then worked out the total cost of the ingredients. Their shopping, self service scanning and packing skills were impressive!
After an afternoon of baking the cakes, they worked out how much to charge for each of their items before being tasked with selling them the next day at the charity cake sale. They were very proud to sell their rice crispy cakes, chocolate rocky road and cupcakes and were thrilled to make a profit, though not so thrilled that they had to repay the school’s funds first before calculating their earnings! Real world learning is tough sometimes!
