{"activityType":[{"id":38377,"name":"Practical skills"}],"activityCategory":"Activity","completionTime":"30","cost":"\u00A3","energy":"Focusing","equipmentList":[{"id":38356,"name":"A4 paper","description":"","type":"general"},{"id":38295,"name":"Pens or pencils","description":"","type":"general"},{"id":0,"name":null,"description":"Something to represent money, such as sticks, stones or Monopoly money","type":"specific"},{"id":0,"name":null,"description":"Printed copies of the Bill Busters challenge cards","type":"specific"},{"id":0,"name":null,"description":"Cones for marking stations (optional)","type":"specific"}],"adjustments":"\u003Cp\u003ETo make the activity harder you could:\u003C/p\u003E\n\u003Cul\u003E\n\u003Cli\u003EAdd More Realistic Bills\u0026nbsp;such as rent, groceries, council tax, internet, or transport costs. These reflect the true costs of living independently and encourage better budgeting decisions.\u003C/li\u003E\n\u003Cli\u003EIntroduce Future Planning by asking young people to think about where they might be in 5 years\u0027 time. Will they be a student, in full-time work, or perhaps doing an apprenticeship? 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We fundraise for charities, budget for camps, and raise money for jamborees as part of everything we do to build skills for life. Back by popular demand, we\u0027ve now expanded our Successful Money Skills programme for Beavers and Cubs by developing badges for Scouts and Explorers too. The activities focus on fun, active ways for young people to build their confidence and understanding around financial literacy.\u003Cbr\u003E\u0026nbsp;\u003Cbr\u003EThis isn\u2019t a new idea. Between 1916 and 1925, Scouts could earn the Thriftyman Proficiency Badge, which was all about the importance of practising saving from a young age. Today, we\u2019re taking it a little further. 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That\u2019s why we worked with HSBC UK to design these badges for Beavers and Cubs. After three years of success, awarding over 200,000 Money Skills badges to our younger sections, the time has come for us to extend this opportunity to our Scouts and Explorers too!\u003C/p\u003E\n\u003Cp\u003EThe badges aren\u2019t about maths or teaching young people what they should and shouldn\u2019t do with their money. They build on young people\u2019s decision-making skills, help them learn about the things that might influence their choices, and introduce some different cultural practices around money. Above all, they give young people to chance to get stuck in and practise handling money and making their own choices.\u003C/p\u003E\n\u003Cp\u003EThe new Money Skills Activity Badges are our opportunity to help young people prepare to deal with money, both at Scouts and in their personal lives.\u003C/p\u003E","label":"Why Money Skills matters to Scouts"},{"gridType":"accordionItem","gtmId":"","gtmClass":"","body":"\u003Cp class=\u0022rte-justify\u0022\u003E\u003Cspan\u003EWe knew that this bad\u003C/span\u003E\u003Cspan\u003Ege needed to be shaped by expert knowledge, including knowledge of what leaders, young people, and parents wanted from the badges. \u003C/span\u003EWe set up a working group of diverse volunteers from different religious background\u003Cspan\u003Es and \u003C/span\u003Elocations\u003Cspan\u003E (\u003C/span\u003E\u003Cspan\u003Eand \u003C/span\u003E\u003Cspan\u003Ewith\u003C/span\u003E different learning styles and experiences\u003Cspan\u003E)\u003C/span\u003E\u003Cspan\u003E \u2013\u00A0and we learned a lot.\u003C/span\u003E\u003C/p\u003E\n\u003Cp class=\u0022rte-justify\u0022\u003EOf course, our priority was to make sure \u003Cspan\u003Ethe badges:\u003C/span\u003E\u003C/p\u003E\n\u003Cul\u003E\n\u003Cli class=\u0022rte-justify\u0022\u003Epromote learning by doing,\u003C/li\u003E\n\u003Cli class=\u0022rte-justify\u0022\u003Erelate to Scout experiences,\u003C/li\u003E\n\u003Cli class=\u0022rte-justify\u0022\u003Eand are as fun and active as possible.\u003C/li\u003E\n\u003C/ul\u003E\n\u003Cp\u003EWe worked with our dedicated volunteers to design the badge requirements, \u003Cspan\u003Ethen\u003C/span\u003E tested them around the UK. \u003Cspan\u003EPeople\u2019s f\u003C/span\u003Eeedback told us what worked best, and we\u003Cspan\u003E le\u003C/span\u003E\u003Cspan\u003Earned where we\u003C/span\u003E needed to make \u003Cspan\u003Echanges \u003C/span\u003Eto \u003Cspan\u003Emake every 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for others\u003Cspan\u003E.\u003C/span\u003E\u003C/li\u003E\n\u003Cli\u003EYoung people and leaders wanted activities that \u003Cspan\u003Eg\u003C/span\u003E\u003Cspan\u003Ei\u003C/span\u003E\u003Cspan\u003Eve young people the chance to\u003C/span\u003E practise \u003Cspan\u003Eusing\u003C/span\u003E money in a safe way\u003Cspan\u003E.\u003C/span\u003E\u003C/li\u003E\n\u003Cli\u003ESome \u003Cspan\u003El\u003C/span\u003Eeaders gave us advice on how to respectfully \u003Cspan\u003Ereference\u003C/span\u003E their religious practices around money.\u003C/li\u003E\n\u003Cli\u003E\u003Cspan\u003ESome leaders \u003C/span\u003Etold us how to engage young people who struggle with maths by creating practical and creative activities.\u003C/li\u003E\n\u003Cli\u003EParents wanted to make sure activities are respectful of\u003Cspan\u003E people\u003C/span\u003E\u003Cspan\u003E\u2019s\u003C/span\u003E different financial backgrounds\u003Cspan\u003E.\u003C/span\u003E\u003C/li\u003E\n\u003C/ul\u003E\n\u003Cp class=\u0022rte-justify\u0022\u003EThere are \u003Cspan\u003Efour\u003C/span\u003E requirements for Beavers, \u003Cspan\u003Efive\u003C/span\u003E for Cubs, four for Scouts and five for Explorers.\u0026nbsp;\u003Cspan\u003EWe\u2019ve created\u003C/span\u003E at least two new, practical, fun activities for each requirement, which have been tested and enjoyed by \u003Cspan\u003Ereal\u0026nbsp;\u003C/span\u003Egroups.\u003C/p\u003E\n\u003Cp\u003EIn the next couple of years, \u003Cspan class=\u0022rte-justify\u0022\u003Ewe\u2019ll release \u003C/span\u003Emore activities\u003Cspan class=\u0022rte-justify\u0022\u003E. \u003C/span\u003E\u003Cspan class=\u0022rte-justify\u0022\u003EDuring our testing,\u003C/span\u003E some \u003Cspan class=\u0022rte-justify\u0022\u003El\u003C/span\u003Eeaders invented their own activities \u003Cspan class=\u0022rte-justify\u0022\u003E\u2013\u0026nbsp;they\u003C/span\u003E 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That\u2019s why we worked with HSBC UK to design these badges for Beavers and Cubs. After three years of success, awarding over 200,000 Money Skills badges to our younger sections, the time has come for us to extend this opportunity to our Scouts and Explorers too!\u003C/p\u003E\n\u003Cp\u003EThe badges aren\u2019t about maths or teaching young people what they should and shouldn\u2019t do with their money. They build on young people\u2019s decision-making skills, help them learn about the things that might influence their choices, and introduce some different cultural practices around money. 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experiences\u003Cspan\u003E)\u003C/span\u003E\u003Cspan\u003E \u2013\u00A0and we learned a lot.\u003C/span\u003E\u003C/p\u003E\n\u003Cp class=\u0022rte-justify\u0022\u003EOf course, our priority was to make sure \u003Cspan\u003Ethe badges:\u003C/span\u003E\u003C/p\u003E\n\u003Cul\u003E\n\u003Cli class=\u0022rte-justify\u0022\u003Epromote learning by doing,\u003C/li\u003E\n\u003Cli class=\u0022rte-justify\u0022\u003Erelate to Scout experiences,\u003C/li\u003E\n\u003Cli class=\u0022rte-justify\u0022\u003Eand are as fun and active as possible.\u003C/li\u003E\n\u003C/ul\u003E\n\u003Cp\u003EWe worked with our dedicated volunteers to design the badge requirements, \u003Cspan\u003Ethen\u003C/span\u003E tested them around the UK. \u003Cspan\u003EPeople\u2019s f\u003C/span\u003Eeedback told us what worked best, and we\u003Cspan\u003E le\u003C/span\u003E\u003Cspan\u003Earned where we\u003C/span\u003E needed to make \u003Cspan\u003Echanges \u003C/span\u003Eto \u003Cspan\u003Emake every activity\u003C/span\u003E accessible to young people from all backgrounds.\u003C/p\u003E\n\u003Cp\u003EThe requirements are designed to \u003Cspan\u003Egive\u003C/span\u003E young people \u003Cspan\u003Ethe chance to \u003C/span\u003Ereflect on what they \u003Cspan\u003Ealready \u003C/span\u003Eknow about money, use the decision-making skills they already have\u003Cspan\u003E,\u003C/span\u003E and apply \u003Cspan\u003Etheir skills\u003C/span\u003E to financial \u003Cspan\u003Esituations\u003C/span\u003E.\u003C/p\u003E","label":"Designing the badges"},{"gridType":"accordionItem","gtmId":"","gtmClass":"","body":"\u003Cp class=\u0022rte-justify\u0022\u003E\u003Cstrong\u003E\u003Cspan\u003EThrough our research, we found that:\u003C/span\u003E\u003C/strong\u003E\u003C/p\u003E\n\u003Cul class=\u0022rte-justify\u0022\u003E\n\u003Cli\u003EYoung people wanted to learn how money works, how to make \u003Cspan\u003Emoney\u003C/span\u003E, and how to raise \u003Cspan\u003Emoney\u003C/span\u003E for others\u003Cspan\u003E.\u003C/span\u003E\u003C/li\u003E\n\u003Cli\u003EYoung people and leaders wanted activities that \u003Cspan\u003Eg\u003C/span\u003E\u003Cspan\u003Ei\u003C/span\u003E\u003Cspan\u003Eve young people the chance to\u003C/span\u003E practise \u003Cspan\u003Eusing\u003C/span\u003E money in a safe way\u003Cspan\u003E.\u003C/span\u003E\u003C/li\u003E\n\u003Cli\u003ESome \u003Cspan\u003El\u003C/span\u003Eeaders gave us advice on how to respectfully \u003Cspan\u003Ereference\u003C/span\u003E their religious practices around money.\u003C/li\u003E\n\u003Cli\u003E\u003Cspan\u003ESome leaders \u003C/span\u003Etold us how to engage young people who struggle with maths by creating practical and creative activities.\u003C/li\u003E\n\u003Cli\u003EParents wanted to make sure activities are respectful of\u003Cspan\u003E people\u003C/span\u003E\u003Cspan\u003E\u2019s\u003C/span\u003E different financial backgrounds\u003Cspan\u003E.\u003C/span\u003E\u003C/li\u003E\n\u003C/ul\u003E\n\u003Cp class=\u0022rte-justify\u0022\u003EThere are \u003Cspan\u003Efour\u003C/span\u003E requirements for Beavers, \u003Cspan\u003Efive\u003C/span\u003E for Cubs, four for Scouts and five for Explorers.\u0026nbsp;\u003Cspan\u003EWe\u2019ve created\u003C/span\u003E at least two new, practical, fun activities for each requirement, which have been tested and enjoyed by \u003Cspan\u003Ereal\u0026nbsp;\u003C/span\u003Egroups.\u003C/p\u003E\n\u003Cp\u003EIn the next couple of years, \u003Cspan class=\u0022rte-justify\u0022\u003Ewe\u2019ll release \u003C/span\u003Emore activities\u003Cspan class=\u0022rte-justify\u0022\u003E. \u003C/span\u003E\u003Cspan class=\u0022rte-justify\u0022\u003EDuring our testing,\u003C/span\u003E some \u003Cspan class=\u0022rte-justify\u0022\u003El\u003C/span\u003Eeaders invented their own activities \u003Cspan class=\u0022rte-justify\u0022\u003E\u2013\u0026nbsp;they\u003C/span\u003E blew us away with their creativity, so we\u003Cspan class=\u0022rte-justify\u0022\u003E\u2019\u003C/span\u003Ell be working with them later on in the project to include the\u003Cspan class=\u0022rte-justify\u0022\u003Eir\u003C/span\u003E\u003Cspan class=\u0022rte-justify\u0022\u003E ideas\u003C/span\u003E too\u003Cspan class=\u0022rte-justify\u0022\u003E.\u003C/span\u003E\u003C/p\u003E","label":"What you told us"}]},{"gridType":"RichTextBlock","content":"\u003Ch3\u003E\u003Cbr\u003EDiscover the new badges\u003C/h3\u003E\n\u003Cp\u003EHSBC UK have supported us to create a fun and practical new Money Skills Activity Badge for Beavers, Cubs, Scouts and Explorers. We\u2019ve created the badge using research from Young Money and working with volunteers and young people across the UK.\u003C/p\u003E","gtmId":"","gtmClass":""}]},{"items":[{"quoteText":"Don\u2019t expect to become rich all at once. 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","browserTitle":"HSBC UK","silktide":"eyJjbXMiOiJVbWJyYWNvIiwiZWRpdG9yVXJsIjoiaHR0cHM6Ly9wcm9kLWNtcy5zY291dHMub3JnLnVrLy91bWJyYWNvIy9jb250ZW50L2NvbnRlbnQvZWRpdC8zOTMyMiJ9","canonicalUrl":"https://www.scouts.org.uk/supporters/hsbc-uk/"},"badgeType":{"id":39282,"name":"Activity"},"activityTypes":[],"settings":[],"browserTitle":"Explorers Money Skills Activity Badge","url":"/explorers/activity-badges/money-skills-old/","id":85961,"nodeName":"Money Skills (old)","type":"badge","image":{"url":"/media/jnrf05tl/activity-badges-ex-money-skills-cmyk-v2.png","caption":"Activity Badges Ex Money Skills CMYK V2","type":"png","size":29967,"width":474,"height":474,"altText":""},"assets":null,"headerOptions":{"headerTitle":"Money Skills (old)","headerSubTitle":null,"headerCta":null,"headerCtaText":null,"headerCtaLink":null,"headerBackgroundColour":null,"showSEOImage":false,"headerBackgroundImage":null,"quickLinks":null},"searchDescription":"","subHeader":"","silktide":"eyJjbXMiOiJVbWJyYWNvIiwiZWRpdG9yVXJsIjoiaHR0cHM6Ly9wcm9kLWNtcy5zY291dHMub3JnLnVrLy91bWJyYWNvIy9jb250ZW50L2NvbnRlbnQvZWRpdC84NTk2MSJ9","canonicalUrl":"https://www.scouts.org.uk/explorers/activity-badges/money-skills-old/"},{"title":"Money Skills","sections":["Explorers"],"supportedBy":{"title":"HSBC UK","logo":{"url":"/media/13886/hsbc-uk.png?cc=0.036000910182936156,0,0.15397861070100011,0.0000000000000005614164825759\u0026width=800\u0026height=450\u0026v=1db822029340140","caption":"HSBC UK","type":"png","size":16071,"width":350,"height":350,"altText":"The HSBC UK logo set inside a white circle."},"content":{"layouts":[{"type":"sidebar","areas":[{"items":[{"gridType":"RichTextBlock","content":"\u003Cp class=\u0022rte-justify\u0022\u003EAs Scouts, we\u2019re used to dealing with money. We fundraise for charities, budget for camps, and raise money for jamborees as part of everything we do to build skills for life. Back by popular demand, we\u0027ve now expanded our Successful Money Skills programme for Beavers and Cubs by developing badges for Scouts and Explorers too. The activities focus on fun, active ways for young people to build their confidence and understanding around financial literacy.\u003Cbr\u003E\u0026nbsp;\u003Cbr\u003EThis isn\u2019t a new idea. Between 1916 and 1925, Scouts could earn the Thriftyman Proficiency Badge, which was all about the importance of practising saving from a young age. Today, we\u2019re taking it a little further. We\u2019re exploring how our money choices can benefit our community, learning about how different people use their money, and having plenty of fun with hands-on activities.\u003C/p\u003E","gtmId":"","gtmClass":""},{"gridType":"accordion","gtmId":"","gtmClass":"","showExpand":false,"items":[{"gridType":"accordionItem","gtmId":"","gtmClass":"","body":"\u003Cp\u003EResearch by the\u0026nbsp;\u003Ca id=\u0022menurprq\u0022 rel=\u0022noreferrer noopener\u0022 href=\u0022https://mascdn.azureedge.net/cms/the-money-advice-service-habit-formation-and-learning-in-young-children-may2013.pdf\u0022 target=\u0022_blank\u0022 title=\u0022https://mascdn.azureedge.net/cms/the-money-advice-service-habit-formation-and-learning-in-young-children-may2013.pdf\u0022 class=\u0022fui-Link ___1q1shib f2hkw1w f3rmtva f1ewtqcl fyind8e f1k6fduh f1w7gpdv fk6fouc fjoy568 figsok6 f1s184ao f1mk8lai fnbmjn9 f1o700av f13mvf36 f1cmlufx f9n3di6 f1ids18y f1tx3yz7 f1deo86v f1eh06m1 f1iescvh fhgqx19 f1olyrje f1p93eir f1nev41a f1h8hb77 f1lqvz6u f10aw75t fsle3fq f17ae5zn\u0022 aria-label=\u0022Link Money Advice Service\u0022\u003EMoney Advice Service\u003C/a\u003E tells us that we usually form our habits around money by the age of seven. That\u2019s why we worked with HSBC UK to design these badges for Beavers and Cubs. After three years of success, awarding over 200,000 Money Skills badges to our younger sections, the time has come for us to extend this opportunity to our Scouts and Explorers too!\u003C/p\u003E\n\u003Cp\u003EThe badges aren\u2019t about maths or teaching young people what they should and shouldn\u2019t do with their money. They build on young people\u2019s decision-making skills, help them learn about the things that might influence their choices, and introduce some different cultural practices around money. Above all, they give young people to chance to get stuck in and practise handling money and making their own choices.\u003C/p\u003E\n\u003Cp\u003EThe new Money Skills Activity Badges are our opportunity to help young people prepare to deal with money, both at Scouts and in their personal lives.\u003C/p\u003E","label":"Why Money Skills matters to Scouts"},{"gridType":"accordionItem","gtmId":"","gtmClass":"","body":"\u003Cp class=\u0022rte-justify\u0022\u003E\u003Cspan\u003EWe knew that this bad\u003C/span\u003E\u003Cspan\u003Ege needed to be shaped by expert knowledge, including knowledge of what leaders, young people, and parents wanted from the badges. \u003C/span\u003EWe set up a working group of diverse volunteers from different religious background\u003Cspan\u003Es and \u003C/span\u003Elocations\u003Cspan\u003E (\u003C/span\u003E\u003Cspan\u003Eand \u003C/span\u003E\u003Cspan\u003Ewith\u003C/span\u003E different learning styles and experiences\u003Cspan\u003E)\u003C/span\u003E\u003Cspan\u003E \u2013\u00A0and we learned a lot.\u003C/span\u003E\u003C/p\u003E\n\u003Cp class=\u0022rte-justify\u0022\u003EOf course, our priority was to make sure \u003Cspan\u003Ethe badges:\u003C/span\u003E\u003C/p\u003E\n\u003Cul\u003E\n\u003Cli class=\u0022rte-justify\u0022\u003Epromote learning by doing,\u003C/li\u003E\n\u003Cli class=\u0022rte-justify\u0022\u003Erelate to Scout experiences,\u003C/li\u003E\n\u003Cli class=\u0022rte-justify\u0022\u003Eand are as fun and active as possible.\u003C/li\u003E\n\u003C/ul\u003E\n\u003Cp\u003EWe worked with our dedicated volunteers to design the badge requirements, \u003Cspan\u003Ethen\u003C/span\u003E tested them around the UK. \u003Cspan\u003EPeople\u2019s f\u003C/span\u003Eeedback told us what worked best, and we\u003Cspan\u003E le\u003C/span\u003E\u003Cspan\u003Earned where we\u003C/span\u003E needed to make \u003Cspan\u003Echanges \u003C/span\u003Eto \u003Cspan\u003Emake every activity\u003C/span\u003E accessible to young people from all backgrounds.\u003C/p\u003E\n\u003Cp\u003EThe requirements are designed to \u003Cspan\u003Egive\u003C/span\u003E young people \u003Cspan\u003Ethe chance to \u003C/span\u003Ereflect on what they \u003Cspan\u003Ealready \u003C/span\u003Eknow about money, use the decision-making skills they already have\u003Cspan\u003E,\u003C/span\u003E and apply \u003Cspan\u003Etheir skills\u003C/span\u003E to financial \u003Cspan\u003Esituations\u003C/span\u003E.\u003C/p\u003E","label":"Designing the badges"},{"gridType":"accordionItem","gtmId":"","gtmClass":"","body":"\u003Cp class=\u0022rte-justify\u0022\u003E\u003Cstrong\u003E\u003Cspan\u003EThrough our research, we found that:\u003C/span\u003E\u003C/strong\u003E\u003C/p\u003E\n\u003Cul class=\u0022rte-justify\u0022\u003E\n\u003Cli\u003EYoung people wanted to learn how money works, how to make \u003Cspan\u003Emoney\u003C/span\u003E, and how to raise \u003Cspan\u003Emoney\u003C/span\u003E for others\u003Cspan\u003E.\u003C/span\u003E\u003C/li\u003E\n\u003Cli\u003EYoung people and leaders wanted activities that \u003Cspan\u003Eg\u003C/span\u003E\u003Cspan\u003Ei\u003C/span\u003E\u003Cspan\u003Eve young people the chance to\u003C/span\u003E practise \u003Cspan\u003Eusing\u003C/span\u003E money in a safe way\u003Cspan\u003E.\u003C/span\u003E\u003C/li\u003E\n\u003Cli\u003ESome \u003Cspan\u003El\u003C/span\u003Eeaders gave us advice on how to respectfully \u003Cspan\u003Ereference\u003C/span\u003E their religious practices around money.\u003C/li\u003E\n\u003Cli\u003E\u003Cspan\u003ESome leaders \u003C/span\u003Etold us how to engage young people who struggle with maths by creating practical and creative activities.\u003C/li\u003E\n\u003Cli\u003EParents wanted to make sure activities are respectful of\u003Cspan\u003E people\u003C/span\u003E\u003Cspan\u003E\u2019s\u003C/span\u003E different financial backgrounds\u003Cspan\u003E.\u003C/span\u003E\u003C/li\u003E\n\u003C/ul\u003E\n\u003Cp class=\u0022rte-justify\u0022\u003EThere are \u003Cspan\u003Efour\u003C/span\u003E requirements for Beavers, \u003Cspan\u003Efive\u003C/span\u003E for Cubs, four for Scouts and five for Explorers.\u0026nbsp;\u003Cspan\u003EWe\u2019ve created\u003C/span\u003E at least two new, practical, fun activities for each requirement, which have been tested and enjoyed by \u003Cspan\u003Ereal\u0026nbsp;\u003C/span\u003Egroups.\u003C/p\u003E\n\u003Cp\u003EIn the next couple of years, \u003Cspan class=\u0022rte-justify\u0022\u003Ewe\u2019ll release \u003C/span\u003Emore activities\u003Cspan class=\u0022rte-justify\u0022\u003E. \u003C/span\u003E\u003Cspan class=\u0022rte-justify\u0022\u003EDuring our testing,\u003C/span\u003E some \u003Cspan class=\u0022rte-justify\u0022\u003El\u003C/span\u003Eeaders invented their own activities \u003Cspan class=\u0022rte-justify\u0022\u003E\u2013\u0026nbsp;they\u003C/span\u003E blew us away with their creativity, so we\u003Cspan class=\u0022rte-justify\u0022\u003E\u2019\u003C/span\u003Ell be working with them later on in the project to include the\u003Cspan class=\u0022rte-justify\u0022\u003Eir\u003C/span\u003E\u003Cspan class=\u0022rte-justify\u0022\u003E ideas\u003C/span\u003E too\u003Cspan class=\u0022rte-justify\u0022\u003E.\u003C/span\u003E\u003C/p\u003E","label":"What you told us"}]},{"gridType":"RichTextBlock","content":"\u003Ch3\u003E\u003Cbr\u003EDiscover the new badges\u003C/h3\u003E\n\u003Cp\u003EHSBC UK have supported us to create a fun and practical new Money Skills Activity Badge for Beavers, Cubs, Scouts and Explorers. We\u2019ve created the badge using research from Young Money and working with volunteers and young people across the UK.\u003C/p\u003E","gtmId":"","gtmClass":""}]},{"items":[{"quoteText":"Don\u2019t expect to become rich all at once. 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You dealt with paying bills and unexpected costs, choosing when to use your own money (debit) or borrow (credit), and saw how these choices affected your team\u2019s budget. What was your team\u2019s plan for handling money? Did it change during the game?\u003C/p\u003E\n\u003Cp data-start=\u0022210\u0022 data-end=\u0022341\u0022\u003EThis was a bit like managing your income or salary and outgoings each month. There\u2019s lots of hard decisions. Were you surprised with how much or how little you had left at the end? How do you think managing money at home is different in real life? What other bills might you need to pay, such as rent/mortgages or council tax?\u003C/p\u003E\n\u003Cp data-start=\u0022343\u0022 data-end=\u0022570\u0022 data-is-last-node=\u0022\u0022 data-is-only-node=\u0022\u0022\u003EYou really had to work as a team. How did you make a decision? Did everyone get to have their say and did you listen to each other? Which choices helped your team the most? Which didn\u2019t work? Would you do anything differently if you played again or in real life? What did you learn?\u003C/p\u003E","relatedActivities":null,"setting":[{"id":38381,"name":"Indoors"}],"supportedBy":{"title":"HSBC UK","logo":{"url":"/media/13886/hsbc-uk.png?cc=0.036000910182936156,0,0.15397861070100011,0.0000000000000005614164825759\u0026width=800\u0026height=450\u0026v=1db822029340140","caption":"HSBC UK","type":"png","size":16071,"width":350,"height":350,"altText":"The HSBC UK logo set inside a white circle."},"content":{"layouts":[{"type":"sidebar","areas":[{"items":[{"gridType":"RichTextBlock","content":"\u003Cp class=\u0022rte-justify\u0022\u003EAs Scouts, we\u2019re used to dealing with money. We fundraise for charities, budget for camps, and raise money for jamborees as part of everything we do to build skills for life. Back by popular demand, we\u0027ve now expanded our Successful Money Skills programme for Beavers and Cubs by developing badges for Scouts and Explorers too. The activities focus on fun, active ways for young people to build their confidence and understanding around financial literacy.\u003Cbr\u003E\u0026nbsp;\u003Cbr\u003EThis isn\u2019t a new idea. Between 1916 and 1925, Scouts could earn the Thriftyman Proficiency Badge, which was all about the importance of practising saving from a young age. Today, we\u2019re taking it a little further. We\u2019re exploring how our money choices can benefit our community, learning about how different people use their money, and having plenty of fun with hands-on activities.\u003C/p\u003E","gtmId":"","gtmClass":""},{"gridType":"accordion","gtmId":"","gtmClass":"","showExpand":false,"items":[{"gridType":"accordionItem","gtmId":"","gtmClass":"","body":"\u003Cp\u003EResearch by the\u0026nbsp;\u003Ca id=\u0022menurprq\u0022 rel=\u0022noreferrer noopener\u0022 href=\u0022https://mascdn.azureedge.net/cms/the-money-advice-service-habit-formation-and-learning-in-young-children-may2013.pdf\u0022 target=\u0022_blank\u0022 title=\u0022https://mascdn.azureedge.net/cms/the-money-advice-service-habit-formation-and-learning-in-young-children-may2013.pdf\u0022 class=\u0022fui-Link ___1q1shib f2hkw1w f3rmtva f1ewtqcl fyind8e f1k6fduh f1w7gpdv fk6fouc fjoy568 figsok6 f1s184ao f1mk8lai fnbmjn9 f1o700av f13mvf36 f1cmlufx f9n3di6 f1ids18y f1tx3yz7 f1deo86v f1eh06m1 f1iescvh fhgqx19 f1olyrje f1p93eir f1nev41a f1h8hb77 f1lqvz6u f10aw75t fsle3fq f17ae5zn\u0022 aria-label=\u0022Link Money Advice Service\u0022\u003EMoney Advice Service\u003C/a\u003E tells us that we usually form our habits around money by the age of seven. That\u2019s why we worked with HSBC UK to design these badges for Beavers and Cubs. After three years of success, awarding over 200,000 Money Skills badges to our younger sections, the time has come for us to extend this opportunity to our Scouts and Explorers too!\u003C/p\u003E\n\u003Cp\u003EThe badges aren\u2019t about maths or teaching young people what they should and shouldn\u2019t do with their money. They build on young people\u2019s decision-making skills, help them learn about the things that might influence their choices, and introduce some different cultural practices around money. Above all, they give young people to chance to get stuck in and practise handling money and making their own choices.\u003C/p\u003E\n\u003Cp\u003EThe new Money Skills Activity Badges are our opportunity to help young people prepare to deal with money, both at Scouts and in their personal lives.\u003C/p\u003E","label":"Why Money Skills matters to Scouts"},{"gridType":"accordionItem","gtmId":"","gtmClass":"","body":"\u003Cp class=\u0022rte-justify\u0022\u003E\u003Cspan\u003EWe knew that this bad\u003C/span\u003E\u003Cspan\u003Ege needed to be shaped by expert knowledge, including knowledge of what leaders, young people, and parents wanted from the badges. \u003C/span\u003EWe set up a working group of diverse volunteers from different religious background\u003Cspan\u003Es and \u003C/span\u003Elocations\u003Cspan\u003E (\u003C/span\u003E\u003Cspan\u003Eand \u003C/span\u003E\u003Cspan\u003Ewith\u003C/span\u003E different learning styles and experiences\u003Cspan\u003E)\u003C/span\u003E\u003Cspan\u003E \u2013\u00A0and we learned a lot.\u003C/span\u003E\u003C/p\u003E\n\u003Cp class=\u0022rte-justify\u0022\u003EOf course, our priority was to make sure \u003Cspan\u003Ethe badges:\u003C/span\u003E\u003C/p\u003E\n\u003Cul\u003E\n\u003Cli class=\u0022rte-justify\u0022\u003Epromote learning by doing,\u003C/li\u003E\n\u003Cli class=\u0022rte-justify\u0022\u003Erelate to Scout experiences,\u003C/li\u003E\n\u003Cli class=\u0022rte-justify\u0022\u003Eand are as fun and active as possible.\u003C/li\u003E\n\u003C/ul\u003E\n\u003Cp\u003EWe worked with our dedicated volunteers to design the badge requirements, \u003Cspan\u003Ethen\u003C/span\u003E tested them around the UK. \u003Cspan\u003EPeople\u2019s f\u003C/span\u003Eeedback told us what worked best, and we\u003Cspan\u003E le\u003C/span\u003E\u003Cspan\u003Earned where we\u003C/span\u003E needed to make \u003Cspan\u003Echanges \u003C/span\u003Eto \u003Cspan\u003Emake every activity\u003C/span\u003E accessible to young people from all backgrounds.\u003C/p\u003E\n\u003Cp\u003EThe requirements are designed to \u003Cspan\u003Egive\u003C/span\u003E young people \u003Cspan\u003Ethe chance to \u003C/span\u003Ereflect on what they \u003Cspan\u003Ealready \u003C/span\u003Eknow about money, use the decision-making skills they already have\u003Cspan\u003E,\u003C/span\u003E and apply \u003Cspan\u003Etheir skills\u003C/span\u003E to financial \u003Cspan\u003Esituations\u003C/span\u003E.\u003C/p\u003E","label":"Designing the badges"},{"gridType":"accordionItem","gtmId":"","gtmClass":"","body":"\u003Cp class=\u0022rte-justify\u0022\u003E\u003Cstrong\u003E\u003Cspan\u003EThrough our research, we found that:\u003C/span\u003E\u003C/strong\u003E\u003C/p\u003E\n\u003Cul class=\u0022rte-justify\u0022\u003E\n\u003Cli\u003EYoung people wanted to learn how money works, how to make \u003Cspan\u003Emoney\u003C/span\u003E, and how to raise \u003Cspan\u003Emoney\u003C/span\u003E for others\u003Cspan\u003E.\u003C/span\u003E\u003C/li\u003E\n\u003Cli\u003EYoung people and leaders wanted activities that \u003Cspan\u003Eg\u003C/span\u003E\u003Cspan\u003Ei\u003C/span\u003E\u003Cspan\u003Eve young people the chance to\u003C/span\u003E practise \u003Cspan\u003Eusing\u003C/span\u003E money in a safe way\u003Cspan\u003E.\u003C/span\u003E\u003C/li\u003E\n\u003Cli\u003ESome \u003Cspan\u003El\u003C/span\u003Eeaders gave us advice on how to respectfully \u003Cspan\u003Ereference\u003C/span\u003E their religious practices around money.\u003C/li\u003E\n\u003Cli\u003E\u003Cspan\u003ESome leaders \u003C/span\u003Etold us how to engage young people who struggle with maths by creating practical and creative activities.\u003C/li\u003E\n\u003Cli\u003EParents wanted to make sure activities are respectful of\u003Cspan\u003E people\u003C/span\u003E\u003Cspan\u003E\u2019s\u003C/span\u003E different financial backgrounds\u003Cspan\u003E.\u003C/span\u003E\u003C/li\u003E\n\u003C/ul\u003E\n\u003Cp class=\u0022rte-justify\u0022\u003EThere are \u003Cspan\u003Efour\u003C/span\u003E requirements for Beavers, \u003Cspan\u003Efive\u003C/span\u003E for Cubs, four for Scouts and five for Explorers.\u0026nbsp;\u003Cspan\u003EWe\u2019ve created\u003C/span\u003E at least two new, practical, fun activities for each requirement, which have been tested and enjoyed by \u003Cspan\u003Ereal\u0026nbsp;\u003C/span\u003Egroups.\u003C/p\u003E\n\u003Cp\u003EIn the next couple of years, \u003Cspan class=\u0022rte-justify\u0022\u003Ewe\u2019ll release \u003C/span\u003Emore activities\u003Cspan class=\u0022rte-justify\u0022\u003E. \u003C/span\u003E\u003Cspan class=\u0022rte-justify\u0022\u003EDuring our testing,\u003C/span\u003E some \u003Cspan class=\u0022rte-justify\u0022\u003El\u003C/span\u003Eeaders invented their own activities \u003Cspan class=\u0022rte-justify\u0022\u003E\u2013\u0026nbsp;they\u003C/span\u003E blew us away with their creativity, so we\u003Cspan class=\u0022rte-justify\u0022\u003E\u2019\u003C/span\u003Ell be working with them later on in the project to include the\u003Cspan class=\u0022rte-justify\u0022\u003Eir\u003C/span\u003E\u003Cspan class=\u0022rte-justify\u0022\u003E ideas\u003C/span\u003E too\u003Cspan class=\u0022rte-justify\u0022\u003E.\u003C/span\u003E\u003C/p\u003E","label":"What you told us"}]},{"gridType":"RichTextBlock","content":"\u003Ch3\u003E\u003Cbr\u003EDiscover the new badges\u003C/h3\u003E\n\u003Cp\u003EHSBC UK have supported us to create a fun and practical new Money Skills Activity Badge for Beavers, Cubs, Scouts and Explorers. We\u2019ve created the badge using research from Young Money and working with volunteers and young people across the UK.\u003C/p\u003E","gtmId":"","gtmClass":""}]},{"items":[{"quoteText":"Don\u2019t expect to become rich all at once. To get to big things you have to begin with little things, just as before you grow to be a big adult you must be a small child.","attribution":"Wolf Cubs Handbook, 1916","gridType":"quote","gtmId":"","gtmClass":""}]}],"config":null},{"type":"threeColumn","areas":[{"items":[{"type":"Image top","cta":"Discover the badge","body":"\u003Cp\u003EGet the badge from the\u003Cspan\u003E\u0026nbsp;\u003C/span\u003E\u003Ca rel=\u0022noopener\u0022 href=\u0022https://shop.scouts.org.uk/new-in/explorers-money-skills-activity-badge-113751\u0022 target=\u0022_blank\u0022 title=\u0022Explorer Scout Money Skills Activity Badge\u0022\u003EScout Store\u003C/a\u003E.\u003C/p\u003E","link":{"name":"Money Skills","id":null,"url":"/explorers/activity-badges/money-skills-old/","newWindow":false,"target":null},"colour":"#f1f1f1","title":"Explorers Money Skills Activity 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There\u2019s also more guidance to help you carry out your \u003Ca rel=\u0022noopener\u0022 href=\u0022/volunteers/staying-safe-and-safeguarding/risk-assessments/\u0022 target=\u0022_blank\u0022 title=\u0022Risk assessments\u0022\u003Erisk assessment\u003C/a\u003E, including examples.\u003C/li\u003E\n\u003Cli\u003EMake sure all young people and adults involved in the activity know how to take part safely.\u003C/li\u003E\n\u003Cli\u003EMake sure you\u2019ll have enough adult helpers. You may need some parents and carers to help.\u003C/li\u003E\n\u003C/ul\u003E\n\u003Ch3\u003EPlanning and setting up this activity\u003C/h3\u003E\n\u003Cul\u003E\n\u003Cli\u003ESet up five stations around the meeting space: Home, The Bank, Electricity Bills, Water Bills and Surprise Expenses.\u003C/li\u003E\n\u003Cli\u003EAn adult volunteer, such as a parent or carer, could be based at each station.\u003C/li\u003E\n\u003Cli\u003EWrite or print out the cards.\u0026nbsp;To keep things organised, you could use a different colour paper for each set.\u003C/li\u003E\n\u003Cli\u003EShuffle the cards in each set, so they\u2019re in a random order.\u003C/li\u003E\n\u003C/ul\u003E","gtmId":"","gtmClass":""},{"type":"Promo","cta":"","body":"\u003Cp\u003EThe aim of this activity is to help young people learn about credit and debit by managing household bills. Each group will take on the role of a household and decide how to pay for necessities, such as water and electricity bills. They\u0027ll pick cards at random, adding some unpredictability, just like real-life financial decisions can be. They\u2019ll choose whether to use debit or credit and see what happens as a result of their choices.\u003C/p\u003E","link":null,"colour":"#f1f1f1","title":"Aim of the activity","image":null,"imageFocus":"","imageId":0,"imageKey":"00000000-0000-0000-0000-000000000000","imageCrop":"","gridType":"card","gtmId":"","gtmClass":""},{"gridType":"accordion","gtmId":"","gtmClass":"","showExpand":true,"items":[{"gridType":"accordionItem","gtmId":"","gtmClass":"","body":"\u003Cp\u003E\u003Cstrong\u003EHow to Manage Money\u003C/strong\u003E\u003C/p\u003E\n\u003Cul\u003E\n\u003Cli\u003EPlanning and Budgeting\u003C/li\u003E\n\u003Cli\u003EFinancial planning and budgeting\u003C/li\u003E\n\u003C/ul\u003E\n\u003Cp\u003E\u003Cstrong\u003EBecoming a Critical Consumer\u003C/strong\u003E\u003C/p\u003E\n\u003Cul\u003E\n\u003Cli\u003EUsing information and advice to make financial decisions\u003C/li\u003E\n\u003Cli\u003ETaking responsibility\u003C/li\u003E\n\u003C/ul\u003E","label":"Links to the financial education planning framework"},{"gridType":"accordionItem","gtmId":"","gtmClass":"","body":"\u003Cul\u003E\n\u003Cli\u003E\u003Cstrong\u003ECredit:\u003C/strong\u003E When you use credit, you\u2019re borrowing money, which means you\u2019ll have to pay it back later, usually with some extra charges (interest). Remember, credit card interest is avoidable if debt is paid in full. It\u2019s like using money that\u2019s not yours right now, but you promise to repay it. In the game, when teams choose credit, they\u2019re borrowing to pay a bill but will owe more in the future.\u0026nbsp;\u003C/li\u003E\n\u003Cli\u003E\u003Cstrong\u003EDebit: \u003C/strong\u003EDebit means paying with the money you already have in your account. If you have \u00A310 in your account and the bill is \u00A310, you pay it directly without borrowing. There\u2019s no interest to pay with debit, but you need to make sure you have enough money in your account.\u0026nbsp;\u003C/li\u003E\n\u003Cli\u003E\u003Cstrong\u003ECredit and Debit c\u003C/strong\u003E\u003Cstrong\u003Eards:\u0026nbsp;\u003C/strong\u003ECredit cards allow you to borrow money to pay for things now and pay it back later (with interest). Some credit cards allow you to borrow money without having to pay interest, but this is usually just for a short amount of time.\u0026nbsp;Debit cards allow you to use your own money to pay for things, so you need to have enough in your account.\u0026nbsp;\u003C/li\u003E\n\u003Cli\u003E\u003Cstrong\u003EPrepaid cards:\u003C/strong\u003E Prepaid cards are different to credit or debit cards. They\u0027re cards that you load a specific amount of money onto and you can only spend that amount. It\u0027s a bit like a using a pay-as-you-go mobile or a gift card. Some prepaid cards have fees you have to pay - for example, monthly or annual fees.\u003C/li\u003E\n\u003C/ul\u003E","label":"Understanding credit and debit"},{"gridType":"accordionItem","gtmId":"","gtmClass":"","body":"\u003Cp\u003EThis activity may touch on sensitive topics, such as food, money or food banks, which some young people or their families might be affected by.\u00A0\u003C/p\u003E\n\u003Cp\u003EIt\u2019s important to create a safe, positive and supportive space where everyone feels comfortable. Let everyone know it\u2019s okay to ask questions, say if they feel unsure, or step away at any time. Always follow the \u003Ca href=\u0022https://www.scouts.org.uk/volunteers/staying-safe-and-safeguarding/safe-scouting-cards/safeguarding-code-of-conduct-for-adults-yellow-card/\u0022\u003EYellow Card\u003C/a\u003E.\u003C/p\u003E\n\u003Cp\u003EYou might need to make adjustments, such as:\u003C/p\u003E\n\u003Cul\u003E\n\u003Cli\u003ETell people about the activity in advance\u003C/li\u003E\n\u003Cli\u003EOffer the option to leave or do an alternative activity\u003C/li\u003E\n\u003Cli\u003ESpeak with parents or carers beforehand\u003C/li\u003E\n\u003Cli\u003ERemind everyone they can talk to a trusted adult if they\u2019re upset or worried\u003C/li\u003E\n\u003C/ul\u003E\n\u003Cp\u003EYou can offer trusted support services if needed, such as Childline (0800 1111), Citizen\u2019s Advice (0808 223 1133) and Crimestoppers (0800 555 111).\u003C/p\u003E\n\u003Cp\u003EThe\u00A0\u003Ca href=\u0022https://www.trusselltrust.org/\u0022\u003ETrussell Trust\u003C/a\u003E is a great place to start \u003Ca href=\u0022https://www.trussell.org.uk/emergency-food\u0022\u003Elooking for a food bank near you\u003C/a\u003E.\u00A0You can find details of\u00A0\u003Ca href=\u0022https://www.foodaidnetwork.org.uk/our-members\u0022\u003Eindependent food banks\u003C/a\u003E online. The UK Government have some\u00A0\u003Ca href=\u0022https://www.gov.uk/debt-advice\u0022\u003Edebt advice support\u003C/a\u003E too.\u003C/p\u003E\n\u003Cp\u003EMake sure that all adult volunteers and young leaders keep all discussions age-appropriate and supportive.\u003C/p\u003E","label":"Create a safe and supportive space when talking about money"}]},{"gridType":"accordion","gtmId":"","gtmClass":"","showExpand":true,"items":[{"gridType":"accordionItem","gtmId":"","gtmClass":"","body":"\u003Cp\u003EThis is where each team starts. They pick a card at random which gives them their monthly starting balance. \u0026nbsp;\u003C/p\u003E","label":"Station 1: Home"},{"gridType":"accordionItem","gtmId":"","gtmClass":"","body":"\u003Cp\u003EThis is where each team visits at the start of each round to collect their money.\u0026nbsp;\u003C/p\u003E","label":"Station 2: The bank"},{"gridType":"accordionItem","gtmId":"","gtmClass":"","body":"\u003Cp\u003EThe team picks a card to see how much they owe for their water bill. They decide whether to use their existing funds (debit) or borrow money (credit) to cover the cost.\u003C/p\u003E","label":"Station 3: Water bill"},{"gridType":"accordionItem","gtmId":"","gtmClass":"","body":"\u003Cp\u003EThe team picks a card to see how much they owe for their electricity bill. They decide whether to use their existing funds (debit) or borrow money (credit) to cover the cost.\u003C/p\u003E","label":"Station 4: Electricity bill"},{"gridType":"accordionItem","gtmId":"","gtmClass":"","body":"\u003Cp\u003EThe team picks a surprise expense card that presents an unexpected financial challenge, such as a broken phone, medical bills or car repair. They decide whether to use their existing funds (debit) or borrow money (credit) to cover the cost.\u003C/p\u003E","label":"Station 5: Surprise expense"}]},{"gridType":"RichTextBlock","content":"\u003Ch3\u003E\u0026nbsp;\u0026nbsp;\u003C/h3\u003E\n\u003Ch3\u003ERunning this activity\u003C/h3\u003E\n\u003Col\u003E\n\u003Cli\u003EAsk if anyone know what credit or debit is. You can use the explanations on this page. A simple explanation is:\n\u003Cul\u003E\n\u003Cli\u003E\u003Cstrong\u003ECredit:\u003C/strong\u003E Credit is borrowing money to pay for something, such as paying on a credit card. For example, if you don\u2019t have enough money to pay for a car repair, you can borrow the money from the bank on a credit card, but you\u0027ll need to pay it back. You may also need to pay interest or a fee to use credit.\u003C/li\u003E\n\u003Cli\u003E\u003Cstrong\u003EDebit:\u003C/strong\u003E Debit is using your own money to pay for something. If you pay for something with a debit card, you\u0027re using the money you already have in your bank account.\u0026nbsp;\u003C/li\u003E\n\u003Cli\u003E\u003Cstrong\u003EPrepaid cards:\u003C/strong\u003E Prepaid cards are different to credit or debit cards. You load money onto the card and you can only spend what\u0027s on the card. There might be fees you have to pay to use or own a prepaid card.\u0026nbsp;\u003C/li\u003E\n\u003C/ul\u003E\n\u003C/li\u003E\n\u003Cli\u003EAsk everyone to get into teams.\u003C/li\u003E\n\u003Cli\u003EExplain that each team will be a \u2018household\u2019 and they\u2019ll need to manage their household finances.\u003C/li\u003E\n\u003Cli\u003EThe teams will move through the different stations, choosing cards, \u0026nbsp;deciding how to manage their money and\u0026nbsp;trying not to get into debt.\u0026nbsp;\u003C/li\u003E\n\u003Cli\u003EExplain that the game will be played over three rounds, with each round representing a month. The winning team will be the team who ends the game with the most money in debit. \u0026nbsp;\u003C/li\u003E\n\u003C/ol\u003E\n\u003Ch4\u003ERound 1\u003C/h4\u003E\n\u003Col\u003E\n\u003Cli data-start=\u00220\u0022 data-end=\u002285\u0022\u003ETeams start at the Home station and pick a card to find out their starting balance.\u003C/li\u003E\n\u003Cli data-start=\u002287\u0022 data-end=\u0022138\u0022\u003ENext, they go to the Bank to collect their money.\u003C/li\u003E\n\u003Cli data-start=\u0022140\u0022 data-end=\u0022299\u0022\u003EThen they visit each station (water bill, electricity bill, surprise expense), pick a random card to see what they owe, and choose to pay by debit or credit.\u003C/li\u003E\n\u003Cli data-start=\u0022301\u0022 data-end=\u0022362\u0022\u003EThey keep track of what they spend and what they still owe.\u003C/li\u003E\n\u003Cli data-start=\u0022364\u0022 data-end=\u0022455\u0022\u003EIf they can\u2019t afford a bill with their debit amount, they must use credit before moving on.\u003C/li\u003E\n\u003Cli data-start=\u0022457\u0022 data-end=\u0022526\u0022\u003EAfter all stations, they return to Home to total up their spending. If they\u2019ve used credit, they may be in minus numbers.\u0026nbsp;\u003C/li\u003E\n\u003Cli data-start=\u0022528\u0022 data-end=\u0022548\u0022\u003EThen, start round 2.\u003C/li\u003E\n\u003C/ol\u003E\n\u003Ch4\u003ERound 2\u003C/h4\u003E\n\u003Col\u003E\n\u003Cli data-start=\u00220\u0022 data-end=\u002283\u0022\u003ETeams return to the Home station and pick another money card.\u003C/li\u003E\n\u003Cli data-start=\u00220\u0022 data-end=\u002283\u0022\u003EThey should then go back to the bank to get their second payment. They add this to any money left from round 1.\u003C/li\u003E\n\u003Cli data-start=\u00220\u0022 data-end=\u002283\u0022\u003EThen, they visit the same three stations again and pay the bills again.\u003C/li\u003E\n\u003Cli data-start=\u00220\u0022 data-end=\u002283\u0022\u003EAt the end, they should work out their savings or loss for round 2.\u003C/li\u003E\n\u003C/ol\u003E\n\u003Ch4\u003ERound 3\u003C/h4\u003E\n\u003Col\u003E\n\u003Cli\u003EFor Round 3, repeat the same process again.\u003C/li\u003E\n\u003Cli\u003EAt the end, they should work out their savings or loss for round 3. This will be the final amount.\u0026nbsp;\u003C/li\u003E\n\u003C/ol\u003E\n\u003Ch4\u003EFinding out the winner\u003C/h4\u003E\n\u003Col\u003E\n\u003Cli\u003EGather everyone back together to compare how teams got on.\u0026nbsp;\u003C/li\u003E\n\u003Cli\u003EAsk each team how much money they have, either in credit or in debt.\u003C/li\u003E\n\u003Cli\u003EWhoever ended up with most money after all the bills were paid, wins.\u003C/li\u003E\n\u003C/ol\u003E","gtmId":"","gtmClass":""},{"gridType":"accordion","gtmId":"","gtmClass":"","showExpand":false,"items":[{"gridType":"accordionItem","gtmId":"","gtmClass":"","body":"\u003Cp data-start=\u0022209\u0022 data-end=\u0022473\u0022\u003EOnce everyone understands the basic concept of managing credit and debit, you can deepen the learning by adding more real-life costs and financial decisions. This makes the activity more relatable and gives them a more accurate picture of adult budgeting.\u003C/p\u003E\n\u003Cp data-start=\u0022209\u0022 data-end=\u0022473\u0022\u003EYou may need to set more accurate monthly income to accomodate.\u0026nbsp;\u003C/p\u003E\n\u003Cp data-start=\u0022209\u0022 data-end=\u0022473\u0022\u003E\u003Cstrong\u003EExamples of Real-Life Expenses to Include\u003C/strong\u003E\u003C/p\u003E\n\u003Cul\u003E\n\u003Cli data-start=\u0022682\u0022 data-end=\u0022791\u0022\u003E\u003Cstrong data-start=\u0022682\u0022 data-end=\u0022702\u0022\u003ERent or Mortgage\u003C/strong\u003E\u003Cbr data-start=\u0022702\u0022 data-end=\u0022705\u0022\u003EAdd as a required expense (for example, 20% of their starting balance).\u003C/li\u003E\n\u003Cli data-start=\u0022793\u0022 data-end=\u0022905\u0022\u003E\u003Cstrong data-start=\u0022793\u0022 data-end=\u0022816\u0022\u003ECouncil Tax / Rates\u003C/strong\u003E\u003Cbr data-start=\u0022816\u0022 data-end=\u0022819\u0022\u003EAdd as a required expense (for example, 10% of their starting balance).\u0026nbsp;\u003C/li\u003E\n\u003Cli\u003E\u003Cstrong data-start=\u00221131\u0022 data-end=\u00221153\u0022\u003EInternet and Phone bills\u003C/strong\u003E\u003Cbr data-start=\u00221153\u0022 data-end=\u00221156\u0022\u003EAdd as a required expense (such as \u00A310-\u00A330).\u003C/li\u003E\n\u003Cli data-start=\u0022793\u0022 data-end=\u0022905\u0022\u003E\u003Cstrong data-start=\u0022907\u0022 data-end=\u0022919\u0022\u003EGas Bill\u003C/strong\u003E\u003Cbr data-start=\u0022919\u0022 data-end=\u0022922\u0022\u003EIntroduce gas bills using the same method as electricity.\u003C/li\u003E\n\u003Cli data-start=\u00221012\u0022 data-end=\u00221129\u0022\u003E\u003Cstrong data-start=\u00221012\u0022 data-end=\u00221025\u0022\u003EFood Bill\u003C/strong\u003E\u003Cbr data-start=\u00221025\u0022 data-end=\u00221028\u0022\u003EIntroduce food bills using the same method as water.\u0026nbsp;\u003C/li\u003E\n\u003Cli data-start=\u00221131\u0022 data-end=\u00221241\u0022\u003E\u003Cstrong data-start=\u00221243\u0022 data-end=\u00221276\u0022\u003EInsurance (Car, Health, Home, phone)\u003C/strong\u003E\u003Cbr data-start=\u00221276\u0022 data-end=\u00221279\u0022\u003EOffer optional insurance cards for \u00A310. If a team chooses to pay for insurance, they\u2019re protected from one any related surprise expense later in the game.\u003C/li\u003E\n\u003C/ul\u003E\n\u003Ch3 data-start=\u00221427\u0022 data-end=\u00221443\u0022\u003EIntroducing Investing\u003C/h3\u003E\n\u003Cp data-start=\u00221445\u0022 data-end=\u00221533\u0022\u003EAt the end of each round, teams may choose to invest.\u003C/p\u003E\n\u003Cul data-start=\u00221535\u0022 data-end=\u00221773\u0022\u003E\n\u003Cli data-start=\u00221535\u0022 data-end=\u00221628\u0022\u003E\n\u003Cp data-start=\u00221537\u0022 data-end=\u00221628\u0022\u003EThey can invest \u00A350 a round.\u0026nbsp;\u003C/p\u003E\n\u003C/li\u003E\n\u003Cli data-start=\u00221535\u0022 data-end=\u00221628\u0022\u003E\n\u003Cp data-start=\u00221537\u0022 data-end=\u00221628\u0022\u003EThis money is locked until the end of the game \u2014 they cannot use it to pay bills later.\u003C/p\u003E\n\u003C/li\u003E\n\u003Cli data-start=\u00221535\u0022 data-end=\u00221628\u0022\u003E\n\u003Cp data-start=\u00221537\u0022 data-end=\u00221628\u0022\u003EFor every round it stays invested, it earns \u00A310 in interest.\u003C/p\u003E\n\u003C/li\u003E\n\u003Cli data-start=\u00221694\u0022 data-end=\u00221773\u0022\u003E\n\u003Cp data-start=\u00221696\u0022 data-end=\u00221773\u0022\u003EAt the end, teams receive their original investment plus any interest earned.\u003C/p\u003E\n\u003C/li\u003E\n\u003C/ul\u003E\n\u003Cp data-start=\u00221696\u0022 data-end=\u00221773\u0022\u003EThis helps young people explore long-term thinking and weigh up risk vs. reward. 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