Wave Community Bank’s Community Engagement Officer, Jenni, is dedicated to equipping young people with essential, real-world financial skills across Kent. The bank strongly believes that financial education should be practical, ethical, and rooted in the decisions young people will face daily. By partnering with local Cub Scout and Guide groups, Jen is translating complex economic concepts into engaging, hands-on activities.
🌊 Seaside Decisions: Ethical Spending with Cub Scouts
For the Cub Scouts (aged 8–10), the programme focuses on the core values of sharing, responsibility, and safe money habits. A popular session involves the Cubs planning a hypothetical trip to the Kent seaside.
In this activity, the Cubs are given a budget and must make joint decisions on their purchases. The exercise quickly progresses to complex ethical questions:
- Sharing: The group must decide how to split the cost of shared resources, introducing the concept of fair distribution and compromise within a budget.
- Cleaning Up: Before they “leave the beach,” they must budget time and resources for cleanup. Failure to budget for this results in a consequence, directly linking environmental responsibility to time and money management.
Crucially, the sessions address the dangers of illegal money lending. Jen discusses what loan sharks are, the devastating effects they have on communities, and, importantly, how to safely report them to organisations like Stop Loan Sharks. Education on safe credit and community support is viewed as being as important as education on safe savings.
💡 Needs vs. Wants: Economic Thinking with Guide Groups
With the Guide groups (aged 10–14), the conversations deepen, bridging personal finance with broader economic understanding. The discussion is framed around “Bills that Need to be Paid” versus “Bills they Want to Pay.”
This practical exercise uses a simulated household budget where the Guides must prioritise essential payments (needs like utilities and food) over discretionary spending (wants like entertainment).
As part of this module, Jenni provides a crucial lesson on how we pay for things by clearly explaining the difference between credit and debit:
- Debit: Using your own money that is already available in your account.
- Credit: Borrowing money that must be paid back, often with interest.
This activity naturally leads to powerful conversations about micro and macro economics:
- Microeconomics (Household Level): The Guides observe the immediate impact of their choices, teaching financial discipline and highlighting the importance of an emergency fund.
- Macroeconomics (Community Level): Discussions extend to how taxes contribute to essential public services, connecting their personal budgeting decisions to the greater economy. The role of institutions like Wave Community Bank is emphasised as an ethical source of finance that supports the local economy.
By making these financial concepts relevant to the participants’ lives and the world around them, the sessions ensure young people leave with a foundational understanding of their place in the financial community and the tools for future financial resilience.
