Our session started by recapping the main functions of banks and reminding ourselves, through role play, how each bank could entice people to save and borrow with them.
Then we debated the question, “Is my money safe in the bank?”
We considered where else we could keep our cash and valuables. Maybe in a piggy bank? In a home safe? Buried in a box in the garden?
We watched a video that showed us that our money would be much safer in the bank due to the protection from the Financial Services Compensation Scheme (FSCS).
It was set up to cover people’s savings up to £85,000 in the event that a bank were to go bust.
Next time, we will be looking at spending and thinking about want v’s need, the 24-hour rule, being a savvy buyer and how to get the best deals.
Happy half term. Keep saving girls!
