Several state financial institutions hosted our youngest students’ financial literacy day at our school. It may seem to some parents that this is too early, but we believe that understanding what money is and how it works is very important. And the sooner this understanding is formed in children, the better they will be able to manage money in the future.
The event began with a short but fascinating story about the history of money, a demonstration of the first attempts of humanity to introduce a single payment method, and stories about the first money. The children were very curious about how all people were able to agree on uniform conditions and what the first money looked like.
In addition, our partners told the children about the process used to print modern money. The students learned about protecting bills from counterfeiting, why dollars turned green, and how many times a bill needs to be folded in order for it to tear. In addition, we talked a little about the people that children can see on banknotes.
Later, in a playful way, students mastered basic financial literacy knowledge. The real furor was the question of why it is impossible to print as much money as everyone needs. With the help of teamwork and play, the children were able to come to the answer to this question on their own, which made them very happy.
At the end of the day, the children were supposed to create their own banknotes, come up with watermarks, and have someone who would decorate it. Many students chose their favorite cartoon characters as a portrait on the banknote, but there were also those who wanted to place a picture of a mom or dad on the banknote.