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Money literacy sparks students' interest

ROSE CAWLEY
Last updated 05:00 02/10/2013
Samuel Hewlett, 9, and Micaela Lucman
Rose Cawley

MONEY MATTERS: Willowbank School pupils Samuel Hewlett, 9, and Micaela Lucman, 10, read The Tale of Tortoise Buffett for money literacy week.

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They are two words that can even make some adults grimace - financial literacy.

But this month students at Willowbank School took to it with interest as part of money week.

Author Lucas Remmerswaal schooled year 5 and 6 students on everything from compound interest to Kiwisaver.

"Compound interest is like interest on interest. If you had lambs that then had lambs that would be compound interest.

"Every time you kill a lamb you kill the chance of it making more lambs - that's what happens when you spend your money, you kill the chance of earning interest."

Last year the school was gifted Mr Remmerswaal's book, The Tale of Tortoise Buffett, in partnership with Robobank and this year the students used them throughout Money Week.

Teacher Maureen Agnew says the books were a great way to get the ball rolling.

"The kids didn't know about financial literacy and so from that we went on and talked about other aspects of money. It brought up lots of questions which was great. They learnt words that they have never used before like debt and interest," she says.

"We got into big discussions about where people get their money, about banks and about the global economic situation."

Ms Agnew says the students have also been using the Figure It Out Financial Literacy Book.

"It has been real for them. One of the things they had to do was buy a pet and then have enough money to look after the pet - it was a real life context and that is what money week is all about."

Student Micaela Lucman says she enjoyed the The Tale of Tortoise Buffett.

"The lessons in it are really interesting and fun and it is something we know about because of the story of the tortoise and hare."

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- Eastern Courier

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