Money and your life: Leader's notes. in partnership with

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Leonard Long
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1 Money and your life: Leader's notes The Scout Association Registered Charity Numbers (England and Wales) and SC (Scotland).

2 Introduction Money makes a difference to all our lives. You need to think about how you ll pay the rent, for food, travel, the TV licence, going out... Whether we re just saving to buy a computer console or dreaming of the perfect holiday, we all need to know how to best manage our money. This resource will give Cub Scouts an understanding of how money can have an effect on people s daily lives, and how best to deal with it. The Scout Association working with RBS The Scout Association have teamed up with RBS to produce this resource for Cub Scouts to help them learn about how to budget and look after money. It will help you deliver a balanced programme of activities. There is also an activity pack which should be provided to each Cub as further support. The activities in their packs relate to those outlined here, but parts of them can also be done at home. These resources should help Cubs to develop confidence in themselves and their own ideas, explore ways of managing their own money, and be great fun. This pack will help Cubs learn more about: Talking about money What their dream job might be How money can have an impact on people s lives It s part of a series of five RBS-sponsored activity packs covering a series of money management skills in simple ways to include in your programme: Money and your life Staying on budget Running an event Running a business Bringing the fun into fundraising Make money make sense RBS run MoneySense, a programme that has helped more than two million UK young people to develop money management skills. All materials are impartial and do not promote RBS products or services. Find out more at

3 Activity: Be a banker This activity is a great way to encourage the Cubs to develop their discussion skills. Sometimes when talking about money it s important to be able to argue your point. In this role-play game, the Cubs will have the opportunity to imagine how they d deal with what can be some challenging situations. How long: 25 minutes I save money in my piggy bank. I put some of my pocket money in there every week to save up for things I want. Gillian, 9, London How to do the activity 1. Split the Cub Scouts into pairs. 2. Explain to the Cubs that they are going to take part in a role-play game. One of them will play the role of a banker and the other a customer. Assign one Cub as the banker and the other as the customer to start (5 minutes). 3. Each pair will work through the two scenarios listed below one by one. They have five minutes to act out each one: The customer has run out of money and needs to pay their rent, otherwise they are going to be evicted from their house. The customer is currently unemployed, but looking for work. In the meantime their rent is due this month. They need to talk to the banker and show that they can pay back any money lent to them. The banker needs to look at their financial situation and decide if they are able to increase their overdraft (a type of loan) or find a different solution to help the customer. The customer wants a loan for 10,000 to start a new business. The Cub Scout who is the customer can decide what that business is. They will need to convince the banker it is a good idea and that they will make enough money to allow them to pay back the loan. They are a new customer to the bank and have run a business before that failed after five years. 4. Encourage the Cubs to think about how they would deal with each situation depending on the role they are in. Can they come to a solution both of them are happy with? In their role, how did they react to the problem (15 minutes)? 5. If you have time, why not swap the Cubs around, so that they can both experience playing the role of banker and customer (an extra 15 minutes). 6. Move around the pairs offering advice on how to deal with the different situations. Is their approach to the problem making it worse or better? 7. Ask two of the groups to perform their role plays to the rest of the pack (5 minutes).

4 Activity: What's my job? This activity will get Cub Scouts thinking about what their dream job might be. They will also think about the amounts of money people earn for different kinds of work, and therefore get an understanding of the kind of challenges people can face. What you need: Pen and paper I d like to make computer games one day. One of my dad s friends does it and it looks fun. You should always do something you enjoy. John, 10, Swansea How long: 35 minutes How to do the activity 1. Ask the pack to assemble in their Sixes. 2. Each player in each team takes it in turns to come forward and act out their dream job without talking. The other team has to guess what they are miming. Keep track of which team guesses the most correctly and what the jobs were (15 minutes). 3. Once everyone has had a go, give each team a set of the What job, what pay? cards on the following page. The Cubs must work together to match up each job with a salary (15 minutes). 4. Then go through the correct answers with the Cubs and ask them if they re surprised by any of them? Do they think the wages are fair (5 minutes)? 'What job, what pay?' answers Job Average salary Teacher Journalist Doctor Banker Lawyer Playground monitor Mechanic Train Driver 29,000 22,000 60,000 22,000 95,000 9,500 17,000 36,000

5 'What job, what pay?' activity cards Teacher Journalist Doctor Banker Lawyer Playground monitor Mechanic Train driver

6 'What job, what pay?' activity cards 29,000 22,000 60,000 22,000 95,000 9,500 17,000 36,000

7 Activity: Snakes and ladders It can be a challenge sometimes to balance the money you get in and the money that goes out. How you manage your money can have a direct impact on your life. This activity will get Cub Scouts thinking about what money means to them and how it can have an affect on their day-to-day lives. What you need: Colouring pens or pencils Photocopies of snakes and ladders grid Coins or counters Dice How long: 25 minutes How to do the activity 1. Assemble the Cub Scouts into their Sixes. 2. Explain to them that they are going to create their own snakes and ladders board game based around money. 3. Ask the Cub Scouts to look at the blank snakes and ladders board at the back of their activity packs. 4. You are going to read out to the Cubs a number of scenarios one by one. They must decide within their teams whether the scenario is a snake that will set them back in the game, or a ladder that would move them forward. They also need to decide how many squares forward or back a scenario would send them. Once they have decided, they can write the scenario in a square on the snakes and ladders game board and draw in their snake or ladder. You get a pay rise of 1,000 You have to pay 400 in tax You have to pay 150 in bills You win 10,000 on the lottery You inherit 500 from a will You have to pay 600 rent You lose your job You sell your old computer for 200 You find a 10 note on the street You get burgled and they steel 1,000 worth of equipment You get a loan for 4,000 You have to pay back your loan plus 1,500 of interest (10 minutes). 5. Give each team a set of counters and dice. In pairs, using one of their boards between them, they can now have a go at their game of snakes and ladders (15 minutes). I don t really know how much money I spend. I just spend it as I get it. Sometimes I try and save up for something, but I m not very good at it. Verity, 8, London

STAYING ON BUDGET: LEADER'S NOTES. in partnership with

STAYING ON BUDGET: LEADER'S NOTES The Scout Association Registered Charity Numbers 306101 (England and Wales) and SC038437 (Scotland). introduction One of the most important aspects of managing your money