Teaching Financial Literacy During My Money Week

My Money Week (May) arrives at a critical juncture for UK schools: financial literacy becomes statutory from 2028 onwards. Primary schools must now begin embedding money concepts into the curriculum. This week offers an excellent calendar hook to launch age-appropriate, practical financial education.

Too many schools delay money teaching to secondary, assuming young children lack readiness. Yet research shows financial concepts develop from age 5 onwards. Year 1 children benefit from simple exchange activities; Year 4 children can understand budgeting; Year 6 students engage with credit, debt, and aspiration planning. Sequenced, practical teaching makes financial concepts concrete.

Age-Appropriate Money Concepts by Year Group

EYFS and Year 1: Introduce coins and notes through play. Toy shop activities where children exchange coins for items develop understanding of exchange and value. Sorting coins by size and value builds subitising skills. No formal numeracy required—just exploration and play.

Year 2 and 3: Counting money, making totals using different coins, and simple transactions (buying, giving change). Introduce "spending" vs. "saving" through story. "Jack saved 10p each week—how much did he save in 4 weeks?" makes maths purposeful.

Year 4 and 5: Budgeting and planning. Children design a school fair stall, plan a birthday party with a budget, or create a weekly pocket money plan. This develops decision-making skills alongside numeracy (addition, subtraction, multiplication). Discuss wants vs. needs—a crucial foundation for future financial resilience.

Year 6: Earnings, aspirations, and understanding work. Career research linked to income (how much do teachers/builders/doctors earn?) connects to the future skills curriculum. Introduce the concept of net and gross income, National Insurance, and tax in simple terms.

Budgeting and Enterprise Activities

Budgeting is most concrete when children plan real events. Year 3 might budget for a class picnic (How much will sandwiches cost? How much for drinks?). Year 5 could design a fundraising event, planning income and expenditure. Year 6 might run a school enterprise (selling baked goods, creating a service) and track profit and loss.

These activities teach mathematical reasoning, problem-solving, and resilience—all whilst making money concepts tangible. Children see that financial decisions involve planning, prioritisation, and accepting trade-offs.

Enterprise and Real-World Links

Invite local business owners or entrepreneurs into school during My Money Week. Children hear authentic stories about earning, starting businesses, and managing finances. Role-model that financial success comes through hard work, learning, and sometimes risk-taking.

Some schools run sustained enterprise projects: Year 6 children manufacture and sell items, track revenue, and donate profits to charity. This combines mathematics, design thinking, teamwork, and financial literacy into purposeful, memorable learning.

Preparing for 2028 Statutory Financial Literacy

The Department for Education has confirmed financial literacy joins the primary statutory curriculum from September 2028 (following the Curriculum and Assessment Review chaired by Becky Francis CBE). This is no longer optional. Schools that build age-appropriate money teaching now will transition smoothly when new curriculum requirements arrive — see our complete guide to financial education workshops for primary schools for the curriculum-ready provision other schools are booking now. Start small: embed one money focus per year group (Year 3 focuses on coins and simple transactions, Year 4 on budgeting, etc.). By 2028, your school will be well-placed to deliver statutory requirements.

"Financial literacy is not about making children wealthy. It's about giving them the knowledge and habits to make informed decisions, understand consequences, and build resilience when facing real-world financial challenges."

Bring It to Life with a Workshop

A specialist workshop energises money teaching and ensures consistency across year groups. Interactive activities make concepts memorable and accessible to all learners, including those with maths anxiety.