Future TalentEd Summer Term 2020 Summer 2020 | Page 16

YOUNG ENTERPRISE FINANCIAL RESOURCE
STUDENT RESOURCE
Gatsby Benchmarks 1 2 3 4 5 6 7 8
Why
save?
AGES 11-14: ACTIVITY FOR HOME
(WITH PARENTS) OR SCHOOL
Financial Education Secondary
Planning Framework links
I can describe the benefits of long-term regular saving; for
example, protection against unforeseen events such as
unemployment, to fund my future lifestyle. (11-14)
I know some different ways in which companies and individuals
may try to influence my saving and spending. (11-14)
Activity 1:
This activity will help students explore the different
possible meanings of the term ‘saving’
TIME: 20 MINUTES
Give the student/s (alone or in groups, if in a school setting) two
minutes to write down all the words they think of when they
hear the word ‘saving’. Tell them that there’s no right or wrong
answers, this word evokes different reactions and feelings from
different people.
Now task the student/s with creating a mind map with the word
‘saving’ in the centre and the associated words grouped by theme.
They can choose the grouping method that makes most sense
to them.
You could help them group their words by suggesting the following
categories below. Once they’ve created their mind map, ask
them to think about long-term saving. Ask them to identify three
reasons why people should consider opening a savings account.
1
How
2
Why
3
What
4
How
do we save?
e.g. banking, bank account, investing, pension, insurance,
ISA, finance, credit union, building society, premium bond,
cash box, mobile banking, planning, budget, consume
less, priority, a safe, reducing waste etc.
might people choose to save?
e.g. security, protecting, looking after, futureproofing,
planning for the future, unexpected events, interest, APR,
risk etc.
might people save for?
e.g. savings goals, the future, a car, a house, a holiday,
university, a rainy day, time, the environment, energy etc.
does saving make us feel?
e.g. secure, positive, prepared, confident, frustrated, angry,
uncertain etc.
Students can refer to p14-20 of
Your Money Matters, for further
information about savings accounts
Activity 2:
This activity will help students consider the
implications of not saving and why saving is
important for everyone, no matter their situation.
TIME: 20 MINUTES
According to the
Office for National
Statistics (2018):
53
%
of 22-29 year-olds
in the UK have no
savings at all
Ask the students for their reactions to the above statistic:
• Is this higher or lower than they thought?
• What are some of the reasons people might have for not
having savings?
• Do they think it’s important to have savings?
• What are the consequences if you don’t have savings?
• What opportunities will you have if you have savings when
you’re older?
Ask the student/s to decide on the three strongest reasons for
saving for the future.
The second part of this activity can run over several sessions.
Explain to the students that their challenge is to rebrand ‘saving’
to encourage more young people to save for their futures. The
rebranding challenge will involve:
A
Creating a marketing pitch to sell ‘saving’
The messaging will need to be positive and catchy. The
aim will be to show why saving is relevant to everyone, no
matter their situation and the pitch should show people how,
when and why they should save.
B
Create a presentation to launch the rebrand
This could be in the form of a role play, a song, a story,
whichever way the student/s think will best showcase
their idea. If in school, ask for groups to share their presentation.