Milton Keynes Beaver Colony children earn money skills badge after chocolate coin fun

Children at a Beaver Colony in Milton Keynes earned their money skills badges after completing a series of financially-themed activities.

A guest speaker from Fintech, IE Hub, came to the colony to help explain the history of money and set the youngsters budgeting tasks.

The children of 1st Crownhill Beaver Colony were also gifted chocolate coins to help learn the difficult aspects of finances.

Assistant Beaver leader Katy Winkle said: “We had a visitor in to tell the Beavers all about the history of money and to talk about coins from all over the world.

"They were amazed when he showed them some banknotes from Zimbabwe, particularly the 10 billion dollars note.

“The group conducted some coin rubbing, and in their lodges (groups of six children), they were given pictures of nine different items, ranging from a single banana to a superyacht, and

they had to match the items to the correct price tag.

"The exercise saw a house sold for £200. Interestingly, the children all thought that a holiday was more expensive than a house or a car. We think this is because they see a house as something that all people have, whereas a holiday is a luxury.”

One exercise involved giving each beaver a chocolate coin each week, they had to option to eat it there and then, or put it into the Beaver Bank.

Savers could then exchange their stacks of coins for a larger item at the end of the term.

The vast majority of children saved all of their coins, and those that chose to eat them at the first meeting decided to save the rest of their treasure.

At the end of term, the coins were returned and the children were able to purchase larger items from the ‘beaver shop’.

IE Hub marketing director Gemma Cryan said: “Teaching children about money equips them with the knowledge and skills they need to manage their money effectively now and in the colony."