A financially literate population is beneficial to the individual, society and economy. 

There are many reasons why there is real value in teaching financial education in schools:

    • Schools prepare students for adult life
    • Much marketing is now focused on children
    • Money and consumerism loom much larger than they did decades ago
    • Tertiary education may mean debt accumulation
    • Money is plastic or from a wall
    • Students are socialised into a working/spending/debt cycle.

At Otonga school we are revising our financial curriculum. We learn about the value of money and how it is earned. Each class discusses how they can earn $. Some can provide a service such as the old “Bob a Job”, some can buy an item and add value to it for resale, and some can manufacture products for sale. In the process they are discussing costs, budget, profit, time, raw materials, market survey, advertising, promotion, health and safety around food production, and pricing. 

Classes also talk about the range of priorities and values people have in making their spending decisions, such as personal gain, common good and charity. 

We hope that you will help your child to understand these concepts and help them in their enterprises without making it too easy. Research has shown that in NZ it is the children in the top two and bottom two deciles of school who have the least knowledge about money (though for different reasons).

As 2009's market day went so well, in 2010 we repeated the idea. We focused on the process taken to design and create an item for our market. All proceeds will again subsidise school camp 2011. 

In 2009 our goal for Market Day was to raise enough money to pay for the buses to the senior school camp. That means being prepared to work for the good of someone else – though also understanding that in time, everyone will benefit, because at some stage, everyone goes to school camp.