Children at a Durham primary school have been learning how to manage the budget for a school project with the help of staff from the Banks Group, a local mining, renewable energy and property development business.
Pupils at Browney Primary School have been raising money as part of the annual My Money Week, a national financial education initiative which aims to help children learn about managing money.
As part of the project, the Browney children organised a car wash event, charging parents £1.50 to wash their vehicles in the school playground, and then used the money they raised to buy in food to sell on at a healthy school tuck shop, the proceeds of which will be spent on a special treat for the whole school.
In order to help them run the tuck shop as efficiently as possible, Barry Grimes and John Ruddick of Meadowfield-based Banks visited the school to talk about how they organise the large property and energy projects for which they are responsible.
The talk covered the different roles and responsibilities that people take on to ensure the schemes progress on schedule and how Banks manages the budgets it has for each project, and was designed to give the Year Three to Six pupils some new ideas about how they will run the tuck shop.
And the Banks team got such a great response that they’ve already been invited back into the school in the autumn term to take part in a Raising Aspirations day on the different jobs that pupils could do in the future.
Teaching assistant Marsha Leighton, who is leading the school’s My Money Week work, says: “We’ve been involved with My Money Week project for the last four years, and it always gets a great response from everyone taking part.
“The children have really thrown themselves into making the most money that they can from their endeavours, and they were fascinated by everything that the Banks team has to say.
“The information we got from Barry and John is already helping the children organise their tuck shop project more efficiently, and it will also be very useful in the classroom as we review what we’ve done in the coming weeks, so we’re very grateful to them for taking the time to come in and see us.”
Barry Grimes of the Banks Group adds: “Being a locally-based business, we were more than happy to help out with this very important project, and were really impressed with both the plans that the children had already put together and the questions they asked us to try to make them even better.
“Learning about managing money and responsibility in this way gives the children information that they’ll be able to use for their whole lives.
“We’re looking forward to hearing about how much the children are able to earn from the tuck shop over the coming weeks, and think they’ll really deserve the treat that’s awaiting them at the end.”