At Prescott College Southern, financial education begins earlier than most. Joel Tomkinson, now in his sixth year of teaching, has embedded Banqer into his Year 3 classroom, giving his students early exposure to real-world money management.
Starting Early with Financial Literacy
Joel first came across Banqer when a fellow teacher introduced it at his school. At the time, he was part-time teaching and only loosely involved, but he quickly saw its potential and connection to the curriculum.
Once he stepped into a full-time role with his own Year 4 class, Banqer became central to how he approached financial literacy. “I found that that was a really good connection… it was hands-on and it was starting to get them to talk about money, saving and interest,” Joel explains.
Since then, Banqer has evolved into a central part of how he teaches, replacing prior behaviour systems and helping unlock conversations that go far beyond basic budgeting.
A Practical, Hands-On Approach
“Financial literacy is already in the curriculum for Year 3 and 4, so it made sense to use Banqer to bring that to life,” he says.
But I think what surprised me is how naturally it supports other areas of learning too.
For example, maths lessons on subtraction become more engaging when students are calculating how much they can transfer to savings. Concepts like negative balances and interest are introduced through real examples drawn from their own Banqer accounts.
And there’s a strong literacy element too. “The modules are reading-based. Students need to understand the text to answer questions. It builds comprehension skills without it feeling like a reading task.”
Cross-Curricular Learning That Sticks
Joel looks for ways to connect Banqer to every subject area. In maths, he uses Banqer balances to teach subtraction and even introduces concepts like negative numbers and interest.
In design and technology, students craft their own wallets—starting with origami prototypes and then working to improve the design. “It brings in functionality, creativity, and problem-solving. It’s hands-on learning with a real purpose,” he says.
He also weaves Banqer into digital literacy. Students create transaction tables in Google Sheets to track classroom cash flow and write transfers during auctions, building real-world spreadsheet and documentation skills.
Banqer even finds its way into pastoral care and values-based education. “As a faith-based school, we talk about giving and community service. Banqer lets us explore those themes in a meaningful, practical way.”
Motivation, Behaviour, and Responsibility
To make financial learning more tangible for his Year 3 students, Joel introduced a physical currency system to run alongside the digital one. “I’ve got a Monopoly tray with our notes in it,” he explains. “When a relief teacher comes in, they immediately see that it’s part of the classroom system. The kids love it.”
The classroom economy comes to life in weekly auctions, where students buy and sell handmade items brought from home such as engraved wooden boards, cross-stitch, 3D-printed objects, paintings, cupcakes. One student’s 3D-printed flower sold for $15,000 Banqer dollars.
Joel also uses Banqer to support classroom management, though he’s intentional about how it’s done. “They respond to it because it feels real,” he says. “Leaving a chair out might cost them $150. That hits harder than a simple verbal reminder.”
Students apply for classroom jobs, write short applications, and nominate peer referees. Joel brings the process to life through mock reference calls. “I’ll ‘call’ their referee and ask if they’re reliable. It’s fun but it also teaches accountability.” Students are also responsible for managing job transitions. “You can’t leave a job without finding someone else to replace it,” Joel explains.
Individual goal-setting is part of the system too. Joel meets with students one-on-one to set personal goals linked to small rewards. “We sit down together and figure out a personal goal. Then we tie a reward to that. It gives them some control. They’re part of the system, not just subject to it.”
Real Learning Beyond the Classroom
One of the most meaningful outcomes of Joel’s approach has been the way Banqer has sparked conversations at home.
One student asked his mum if she could message me to confirm he’d cleaned his room so he could earn Banqer dollars
Joel says. This inspired Joel to overhaul traditional homework, supplementing worksheets with life-skills tasks.
“I’ve got a rubric… make dinner for the family or iron your shirt or get ready for your day… if you’ve done all five, then you get 100 bucks. The change has been well received by parents, many of whom now see their children becoming more independent and financially aware.
A Platform That Stays Grounded
While Banqer has fun elements, Joel is clear that its strength lies in how grounded and grown-up it feels. Its realistic interface helps students feel grown-up and invested.
There’s something about how real it looks - the account layout, the transactions. It mirrors a real bank account. That’s what keeps them engaged. They’re not playing. They’re managing money.
Even for Year 3 students, big ideas like debt, interest, tax, and savings become approachable and real. “They feel grown up using it,” he says. “And they start thinking like people who manage money, not just spend it.”
“Just Give It a Go”
Joel’s message to other teachers is simple: “It’s very user-friendly. You can be selective about how much you want to use. Just give it a go.”
He’s also quick to acknowledge the role that Netwealth’s support plays in making this kind of learning possible. With Banqer available free of charge to Australian primary schools, he says the barrier to getting started is low - something that matters in real school settings.
“If it was paid, it would be hard to get across the line at our school,” he says. “So I just want to say that it’s worth it, and thank Netwealth for their contribution.”
And in his classroom, that support is being put to work in ways that feel real, practical, and built to last.
