Empowering young students with financial literacy at Waiau Pa school

Integrating Banqer in Claire’s classroom

Claire Yee recently returned to full-time teaching, taking over a composite Year 6/7 class within a syndicate that has fully embedded Banqer Primary. Although always very aware of the importance of financial literacy in primary education, Claire had not previously covered the topic outside of numeracy.

Claire’s class have a scheduled time on a Friday when they access Banqer and they hop onto the programme at other times when they have completed their work. Claire began by introducing one Banqer module at a time but the students quickly demanded access to more units,

Claire, like her colleagues, has fully integrated Banqer into the classroom, “Everyone gets paid some money for turning up to school and rewards for good work or behaviour. They also apply for classroom jobs and earn wages each week. I think this is an important part of the experience, mirroring real life and providing them with an understanding of what it means to be a contributing citizen.”

Simplifying financial literacy education

Claire describes how Banqer has made financial literacy easy, “It is amazing how little work it takes from my perspective to run the programme. It is simple for students to navigate and they love exploring the modules. They are all motivated by the financial rewards, and some by the competitive side of things, frequently checking in to see where they sit in the league tables. I don’t have to supply any extra incentivisation, Banqer provides it all.”

Claire acknowledges that many teachers are time-poor, and Banqer in no way adds to that pressure.

I set up class bankers as one of the jobs that the students could apply for, and a couple of times each week, those students, usually ones who get to school early, transfer rewards and pay wages, which they love and save me time.”

Deepening student understanding of financial literacy 

Claire has been using Banqer Primary for six months and can see the benefits already, “The students are taking risks in a safe way and learning  from their financial mistakes. I can tell by the language that they now use to discuss financial issues how far they have come. They talk about safe investments and the importance of insurance.” The students shared their thoughts with Claire, illustrating the impact Banqer has already had on their financial outlook on life:

“It's fun because you get to have a job, a house and a car. We've learnt how to save money and that it's really important to have insurance. The videos that help explain everything makes learning about money A LOT easier.” - Lilia

“What I enjoy most at Banqer is putting money in my savings and watching it grow. It feels like I'm an adult and that it's really my money that I have earned from my job.” - Taylor

“I enjoy saving up for something, then having enough money to buy it, because it makes me feel happy, like I have achieved something I have been working hard for. It also makes me feel powerful because I have my own house and vehicles that I need to look after by getting them insured. I have learnt to be responsible with my money and to think before I buy something.  I have also learnt a lot about how to save money, how to get jobs and more!” - Mackenzie

“The thing I personally enjoy the most is the practice you get from it for when you're older, such as insurance, interest or making money and spending it on things like transport and houses or even tax. I’ve learnt how to keep money safe, paying insurance and all about managing money.” - Jordan

Valuable insights from Equifax class visit

The students’ enthusiasm for financial education was further demonstrated when Banqer Support Partner Equifax visited the school. Equifax held a workshop for the three senior classes reinforcing how lessons learned in Banqer apply in real life. The Equifax Advisor discussed the importance of budgeting and not getting into debt, and the implications of having a good or bad credit rating, “When she opened up to the floor, the children had fantastic questions based on their own experience of having overdrafts and debt in Banqer as well as discussions that they’d had at home. They had the prior knowledge to get a huge amount out of the session and it proved very valuable.”

Bringing the numeracy curriculum to life

Claire is looking forward to the Senior syndicate covering areas of the numeracy curriculum that relate to financial literacy,

Banqer Primary is available at no cost to all New Zealand Primary and Intermediate schools thanks to our Champion Partner Kiwibank