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Somers Park Primary School

Think. know. explain. do.

Year 5 HSBC Budgeting Workshop

 

‘On Thursday 5ZM and 5VD took part in a budgeting session run by HSBC, they taught us all about household budgeting and how to handle our money in the future.

 

It was really exciting playing the lower and higher game, we had to guess how much everyday items cost such as milk and bread. Some of the prices were really shocking!

 

We enjoyed finding out about Billy’s life and we were taught that there are three different types of payments when you are running a household; fixed, essential and non-essential. Fixed is a monthly payment, something that you have to pay for and always stays the same (mortgage or rent). Essential is something that you need to have to live but the price of it sometimes changes (food or clothes). Finally, non-essential which is things you don’t need in life but they are nice to have (swimming or ice cream). We also talked about unexpected payments that may be needed and why it is important to have an emergency fund.

 

This session has been really useful as we now understand why our parents cannot let us have or do everything that we would like to. As well as helping us in the future when we get our own house and family and need to budget our money.’

By Finley DM and Aleena A (Year 5)

 

“It was really good and I learnt that money can sometimes be tight.” Aimee

 

“It opened my eyes to the cost of living.” Chloe

 

“Made me realise how expensive things can be.” Maeve

 

“Taught me how to handle money properly.” Harley 

 

“It made me realise everything that my parents pay for.” Lily F

 

“It was really fun, it showed me how my family have had to budget.” Lucas La