Year 5 Numeracy News

The Grade 5 students have been exploring the importance of economic and financial decision-making in everyday life through the Earn and Learn program.

This program sees students operate in a way similar to a small town or community.

Initially, students receive a base weekly payment for the work they complete. Students who undertake leadership roles or have extra responsibilities within the classroom are able to receive additional payments. Students also pay tax through the money they earn, make weekly “rent” payments for their seat and locker, take out insurance policies, contribute to superannuation and make purchases. Students operate businesses within the classroom and organise their finances through the class bank.

The students distinguish between needs and wants and recognise that choices need to be made when allocating resources. They recognise that consumer choices and financial decisions are influenced by a range of factors.

Some of the important information learnt from our Grade 5 students was ;

How to calculate tax ( Hugh )

Don’t spend all your money at once ( Aaryan)

You have to increase the price of products so you can make a profit ( Yeshwanth )

Purchase needs before wants ( Asher )

The difference between a wholesaler and a retailer ( Letitia )

Take care of your receipts ( Ira )

That money is not easy to make and there are a lot of bills ( Ava B)