My daughters school...?

Question

Are debating whether to set up a mini bank branch within school grounds; which the children will run (obviously with the teacher's guidance & close suveillence). It's primary aim being to teach children about finance & banking. My daughter seems very excited at the idea and is keen to get a main role within the 'minibank' (as seems to be the general feel amongst the children). I was just wondering if anyone has any experiences of such a scheme.. whether it's at your childrens school or one you have attended/attend. Even if you have no experience of such a project your opinions would be greatly appreciated as their is a parents meeting on the matter next week and I would like to attend loaded with opinions =)

Thanks.

Answer 1

im 15 and ive been envolved in one of these schemes it was alot of fun and i think my maths improved after the experience, me and my friends took turns at doing different services or responsibilities, id say go for it and im sure you daughter will get quite envolved as i did, its a good way to make new friends as well

Answer 2

I think that's a great idea!

I know SO many people who are TERRIBLE with money, because they were never really taught how to budget/manage their pocket money.

It will probably help the children understand how banks work (interest), and how to keep track of their money.

The closest any of my schools have ever gotten was that in elementary school, every Tuesday the school would pass around little orange envelopes from a local bank. If you had an account at said bank, you would put in money in the envelope, and it would get deposited.

This in-school bank idea is even better!

Answer 3

well in my old school we had a mini bank, students got to deposit and withdraw and ain experience.

only definite students got to count the money (student leaders)

it had the teachers supervision btw

and this was in elementary.

at the end of the schoolyear we receive our money.

Answer 4

yea my brother did something kinda like that at my old primary skool where he still goes. im not what it was about or if they still do it but they did do a bank thing

Answer 5

the kids in my daughters class did something similar but instead they had to run a business. They had to pay rent for their desks and sell "products" to earn money to cover "expenses". They learned a great deal and she is a much better saver now.

If is is well supervised and made  to be a positive experience then they can benefit a great deal