Hello, my name is Mr. Tazzyman, and I'm really looking forward to today's lesson, which is all about financial education.

We're thinking about money, what it is, how it makes us feel, and the kinds of things that we use it for, how exciting.

Okay, make sure that you're ready to listen, ready to learn, and then we can get started.

Here's the outcome for the lesson then.

By the end, we want you to be able to say, "I understand what happens when I spend money." These are the key words that you are gonna be hearing today.

I'm gonna get you to repeat them back to me.

I'll say, "My turn," say the word, and then I'll say, "Your turn," and you can say it back, ready? My turn, buy, your turn.

My turn, cost, your turn.

My turn, pay, your turn.

Well done, what a great start.

Here's the outline for today's lesson then.

In the first part of the lesson, we are gonna be thinking about spending money, and after that we are gonna look at what you can buy.

In the lesson, you're gonna meet Laura and Jacob.

Hi Laura, hi Jacob.

They're gonna be helping us in this lesson by explaining some of their thinking.

They might also give us some prompts or some hints to some of the answers.

All right, let's do this.

Laura and Jacob go to a cake sale.

You can see they've got some money with them and they've also brought their wallets.

I love the designs, football for Laura, and it looks like there's lady birds on Jacob's.

How much money has Laura got? Look at the coins, what could you do with those coins to calculate how much money Laura has got? Well, let's use a number line to help us.

We'll start with zero, then we'll add 10 pence because that's a 10 p coin that she's got, we get to 10 p, then we'll add five pence because of the five p coin that she's got, that brings us to 15 p altogether.

Then we'll add the remaining five pence, which brings us to 20 p altogether.

So Laura has 20 p.

Let's check your understanding of that then.

I'd like you to use a number line to work out how much money Jacob has got.

Pause the video and give it a go.

Welcome back, let's go through this together, and then you can compare the final answer with the one that you got.

We'll start with a number line again, and there's zero.

Let's add 10 p first.

We've chosen to do that because that's the coin with the greatest value.

We end on 10 p.

Then we add on the five p coin, which is worth five pence, so that brings us to 15 pence altogether.

Next we add these coins, the two pence, another two pence, and a one pence, and altogether that brings us 20 p.

"We have the same amount, says Laura.

"You can make the same amount with different coins." Here's some cakes, they're 20 pence each.

"Each cake costs 20 p," says Laura.

"I want to buy them all," says Jacob.

I bet, I love cakes.

Can Jacob buy them all? What do you think? Do you think with the amount of money that Jacob's got, he will be able to purchase all five cakes? "I want another one," says Jacob.

Remember, he'd like to buy them all.

"You can't, you have spent all your money." Okay, let's check your understanding again.

Who has more money? You can see that Laura's got some coins and Jacob's got some coins, but who has coins which have a greater value altogether? Pause the video and work it out.

Welcome back.

Well, if we add together the value of all of Laura's coins, we have 10 p added to two p added to five p, which is equal to 17 p altogether.

She has 17 p.

For Jacob, he has five p plus five p plus two p plus two p plus two p, which is equal to 16 p, so he has 16 p.

Laura has more money.

Isn't it interesting? She has more, even though she has fewer coins.

The overall value of the coins she has combined is greater than the value of the coins that Jacob has, even though he has a greater number.

They take this money with them and they're looking at buying some fruit.

We've got an apple for five p, an orange for 10 p, a pear, yum, for 10 p and a banana for 12 p.

Laura wants to get an orange and a pear.

Can Laura buy both? Hmm, an orange and a pear.

Let's look at the cost of an orange, let's look at the cost of a pear and how much money does Laura have? Well, Jacob says, "You can buy one of them," and that's because the orange and the pear combined have a value of 20 p, and 20 p is greater than 17 p, which is what Laura has with her.

She buys an orange, she has seven p remaining.

She says, "I only have seven p left, and the pear costs 10 pence." She can't buy it.

Let's do task A.

For this task, we're asking which ones can she buy.

You can see the coins that she's got.

You might want to start by working out how much they are in total.

For A, she wants to buy an apple and a banana, can she do it? For B, an orange and a pear, can she do it? For C, an apple and an orange, can she do it? For D, an orange and a banana, can she do it? For E, an apple and a pear, can she do it? And for F, a pear and a banana, can she do it? For number two, there's a true or false, but we'd like you to explain your understanding too.

Jacob says, "If you spend money, you can still have it back." Do you think that's true or false? And even more importantly, why do you think that? Okay, pause the video here and have a go at those tasks.

Welcome back.

Let's check number one.

The combinations of fruit that she could buy were A, an apple and a banana, B, an orange and a pear, C, an apple and an orange, and E, an apple and a pear.

Laura couldn't afford an orange and a banana, that's D.

The reason is that 10 pence added to 12 pence is equal to 22 pence.

Now, Laura only has 20 pence all together, so she was too pence short of being able to afford that.

Similarly, for F, the cost of a pear and a banana together was also 22 pence, so she couldn't afford that either.

For number two, we had to say true or false and explain.

This is false, if you spend money, then you don't get it back.

Later on, you might get more money from a different place, but you wouldn't be getting the same money back.

Once you've spent it, it's spent.

Let's look at the second part of the lesson now, what you can buy.

Laura and Jacob are at the summer fair.

There's a bouncy castle.

You have to pay 20 p to get five minutes on the bouncy castle.

"A bouncy castle for only 20 p," says Laura.

What do you think? Why has Laura misunderstood this? She thinks she's going to be able to buy a bouncy castle for only 20 p.

"You pay 20 p for five minutes," corrects Jacob.

"Cakes, 20 p," "All the cakes for 20 p," says Laura.

What do you think? Is that what this sign means? "One cake costs 20 p," says Jacob, and he's correct.

10 p to 50 p priced individually, "I will pay 10 p because it's cheaper." What do you think? Laura believes that she gets to choose what to pay for each of these toys, but Jacob realises that that means there are different prices and you have to look on the labels for each individual toy.

The robot will cost 20 p and the dragon will cost 50 P.

You don't get to choose yourself.

Let's check your understanding of the difference between these signs then.

What's the same and what's different? We've got 20 p for five minutes, 20 p, or 10 to 50 p priced individually.

Pause the video and discuss what's the same and what's different.

Welcome back.

Well, these signs mean slightly different things.

The same thing for them is that they have pence in them and you know you need to pay some money.

The difference is that for the bouncy castle, you are paying for a certain amount of time on the bouncy castle.

For the cakes, those are the individual prices of each cake and they're all the same.

And for the third one, you are paying money for each item, but the price varies across each item.

Let's check your understanding further.

Paying for face painting is most like buying, hmm? Is it most like buying A, a cake for 20 p or B, is it most like buying different items that are priced individually? Now you can see that face painting costs 50 p, so have a think about this.

Pause the video and give it a go.

Welcome back.

We said that face painting is most like buying a cake as it doesn't last for long.

I dunno about you, but if I started eating a cupcake, I think I'd finish it faster than someone would finish face painting, hmm.

Okay, it's time for task B.

You've got to match a cost to each picture, so we've got some of these different price labels.

One says 20 p for five minutes, the other says 30 p each, and the last one says 10 p, 20 p, 30 p, 40 p, or 50 p.

So you need to draw a line between those and the pictures below them.

There's a milkshake, a giant inflatable slide, and then some trainers and a T-shirt.

For number two, I'd like you to think of another example for each cost, so what else could be sold under each of these labels? All right, pause the video and give those a go.

Welcome back.

Let's do some feedback then for those tasks.

20 p for five minutes linked to the giant inflatable slide, so you'd pay 20 pence and you'd get five minutes time to have a go on that slide.

You could go round and round and round.

The milkshake was most likely to be 30 p each because milkshakes generally are all the same except for their flavours.

You're getting the same quantity of drink each time.

The range of prices were most likely to go to the t-shirt and trainers.

Looks like a little bit of a car boot sale perhaps.

For number two, here are some possible other examples for those price labels.

Face painting for 50 p, soft toys could be one pound for three, hot chocolate could cost 20 p.

Okay, we've reached the end of the lesson.

Here's a summary of what we've learned.

Once money is spent, you can't get it back.

It is important to understand what you are getting when you pay for something, you can buy things that last or things that don't last.

My name's Mr. Tazzyman, I really enjoyed that lesson.

I hope you did as well.

Maybe I'll see you again another time for some more financial education.

Bye for now.