Today Your Child Learned…
Dear Parent & Guardian,
We are excited to share that your child has completed the following PSHE lesson. Check out our overview and top tips to support their development…
Today’s PSHE Lesson
Borrowing Money (Credit Cards, Credit Scores And Debt)
With the increasing use of credit cards, it’s not surprising that our children lose sight of the fact that money is still involved in paying for what we buy. Tapping our cards at the tills may seem like magic money to our children but the fact is that there needs to be money in a bank account to actually pay for purchases – maybe for us too sometimes! Knowing what a credit card is and how it works is important. Looking at consequences of using cards like credit scores and debt is also essential.
What We Covered In The PSHE Lesson
Here’s what we went through today…
- What a credit card is, what one looks like and that this is ‘virtual’ money that still has to be repaid like a loan.
- Keeping credit cards and bank cards safe is important and that we shouldn’t share personal information like account numbers, security numbers or PINs.
- What a credit score is and how this can affect other areas of our life if this is score is poor for example with utility companies and shops.
How You Can Help From Home
Here’s what you can talk about during dinner…
- Share examples of credit cards or bank cards with your child and explain what these are for and how you repay money owed on them.
- Remind your child to keep bank card and details safe and not to share their PIN or details with anyone.
Go Above & Beyond
Here are some other ideas to support your childs PSHE lessons…
- Explain the convenience of using a credit card but that, if it’s to work well, the balance should be paid off in time and in full every month.
- Ask them what they know about a credit score and how this can affect everyday transactions that they want to make.
- Explain how debt affects you and those around you.
- Explain to your child that talking to those you trust about any money worries before the problem gets too big may avoid you getting into further debt.
When it comes to your child’s development, teachers and parents are better together! By aligning our goals and education techniques, we can better realise our vision of positively preparing your child for their future.
Parents, Teachers and Children Everywhere Love LifeWise
(Who Can Blame Them? 😉 )
