Wellbeing Week Reflections on the Value of Money

By Mr A Manley, Head of PSHE at Felsted Prep
 

The theme of this term’s Wellbeing Week has been to explore what is meant by the ‘value of money’. Both of our assemblies, as well as our PSHE lessons this week, have encouraged pupils to reflect on what ‘value’ means, how we look for it in what we purchase and what (or who) can influence our buying decisions. Making sensible and well-considered financial decisions is a life-learning skill that all children deserve to be able to put into practice. 

One element that we have aimed to instill this week is that ‘value’ doesn’t just have to be about finding what you want for the cheapest possible price. Value is also a measure of time well-spent, so pupils have been encouraged to reflect on the purpose of a purchase, considering what it can provide back to them in the long-term. Value also brings up more detailed questions of ‘needs’ and ‘wants’ and of course the extent of these reflects on individual opinions and influences. When making purchases, we have given the following words of advice to our pupils, which we hope will inspire them as and when they make their own financial choices. 

• Consider who (or what) has inspired you to make the purchase. 
• Is what you are purchasing a ‘need’ or a ‘want'? 
• Try and budget your pocket money and do not feel that you have to spend everything all at once. This will make your money go further. 
• When making a purchase, do a quick review online to compare prices and quality. Where can you get the best deal?
• The most expensive item does not always mean that it is the best. 

Please do feel free to get in contact with Mr Manley (ajlm@felsted.org) should you wish to learn more about our PSHE Curriculum at Felsted Prep School.