Monday 16 July 2018

Y5 Fiver Challenge

Our Year 5 pupils held their stall sale as the culmination of their Fiver Challenge project. Students will use £5 pledges to get their pupil business ideas off the ground during the four weeks of the challenge, aiming to make as much profit as they can.

By taking part in the project, pupils learn what is meant by enterprise and developing ‘enterprising’ skills. Pupils also learn about the role money plays in their own and others’ lives (including how to manage their money) and about being a critical consumer

In addition to this, the project allows the pupils to develop an initial understanding of the concepts of ‘interest’, ‘loan’, ‘debt’ and ‘tax’ (e.g. their contribution to society through payment of VAT)

The Fiver Challenge project also encourages the children to think about how resources can be allocated in different ways and how these economic choices affect individuals, communities and the sustainability of the environment

How does it work?
  1. Pupils work together to decide what product or service they’ll invest their fivers in
  2. Teams source materials or products, prepare sales pitches, and plan selling events
  3. Pupils prepare and promote their selling event
  4. At the end of the Challenge pupils will repay their £5 pledges plus the 50p legacy contribution
What did the pupils think?
85% agreed that the project had given them a chance to show their 4Rs: reciprocity was seen as particularly important as they realised you need a team to be able to complete all the tasks.

100% said that they were more confident at speaking to customers and explaining their product

76% strongly agreed that the design and technology element of the project was their best part.

I loved making all the materials we needed to sell. It was hard work, but the mums and dads really seemed to like them.

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