Banks & Saving
CONCEPTUALWhat banks do and why people use them; bank accounts as safe places for money; that savings in a bank can earn interest; children's savings accounts
Mastery Evidence
- Explain what a bank does in simple terms (keeps money safe, lets you save)
- Describe what interest means (the bank pays you a little extra for keeping money there)
- Name one reason a bank account is safer than keeping all your money at home
Assessment Prompt
“Could [child] explain what a bank does and why people put their money there instead of keeping it all at home?”
Prerequisites2
- Looking After MoneysoftAges 5—7
- Saving MoneyhardAges 5—7
Show full prerequisite tree
- Reading and writing numbers to 20 hard
Recognising coin values requires reading numerals (1, 2, 5, 10, 20, 50)
- How Many in Total? hard
Reading/writing numerals 0–20 requires understanding that numerals represent quantities (cardinality)
- One-to-one counting hard
Cardinality principle builds on one-to-one correspondence — you must count correctly to know the last number tells 'how many'
- Writing digits 0-9 hard
Writing numerals requires the motor skill of forming digits 0-9 (taught in English handwriting)
- What Money Is hard
Must understand what money is before learning to recognise specific coins and notes
- What Money Is hard
Must understand money exists and is limited before distinguishing needs from wants
Unlocks2
- Borrowing & DebthardAges 9—11
- Financial PlanninghardAges 9—11