Hello, my name is Mr. Tazzyman, and today I'm gonna be teaching and learning with you about financial education.

That's all about money, how it makes us feel, and where we might see it and use it.

I hope you enjoy the lesson.

Let's get started.

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

By the end, we want you to be able to say, "I understand that keeping track of money helps to keep it safe." There's only one keyword today, but I'd like you to repeat it back to me.

The keyword is record.

Can you say that? Brilliant, well done.

Now this word can have different meanings in different contexts, so let's make sure that we have the specific meaning that we want to use in this lesson.

Record is a written account of something that is kept so that it can be looked at and used in the future.

Here's the outline of the lesson today.

For the first part, we're gonna be thinking about the importance of keeping track, and in the second part, we're gonna think about how to keep track.

All of it is learning about how can I keep track of money.

We're gonna meet Alex and Izzy along the way.

They're gonna be chatting through a couple of things, and they're gonna be helping us by uncovering some of their thinking about what we're learning.

Hi, Alex.

Hi Izzy.

Is everyone ready? Okay, let's go.

Alex and Izzy are going to a toy shop.

Alex says, "I'm going to empty my piggy bank into my pocket." Izzy says, "I know there's 10 pounds in my money box.

I'll take 5 pounds with me in a wallet." That's a great wallet.

Penguins, what a fantastic choice.

Here they are at the shop, and Alex says, "I'm going to buy all of these." There's a football for 5 pounds, headphones for 20 pounds, and a robot for 12 pounds.

Izzy says, "With 5 pounds, I can't afford them all, but I'll get the ball." Alex goes to pay for the three items and empties out his pocket full of coins onto the counter.

He says, "That should be enough." You might be able to think about what's coming next.

"How do you know? Are you sure?" says Izzy.

"Oh, no," says Alex.

What might be the problem? Hmm.

I only have 4 pounds 56, and that means I can't afford any.

Poor Alex didn't know how much he had, so he didn't know what he could afford.

He just took some things to the till and hoped he had the right amount.

Okay, let's check your understanding so far.

How do you think Alex might be feeling? Discuss that with a partner, and then afterwards, I want you to think about whether this has ever happened to you, and can you describe what happened and how you felt.

Now, if you're in a class situation and there's only one of you whom this has happened to, maybe that person might like to share.

Okay, pause the video and give that a go.

Welcome back.

Well, we thought that Alex might wish he had counted his money carefully and known how much he had.

I think in terms of feelings, he's probably feeling a little bit upset, maybe embarrassed, and maybe a little bit cross all at the same time.

Some difficult emotions quite tangled up.

Alex and Izzy have gone to the school disco.

They bring money to buy some sweets.

Alex says, "I emptied my piggy bank into a wallet for safekeeping." Well, that's a good step forward, Alex, well done.

"Great, says Izzy.

"I counted out 3 pounds in 50 p coins." Very organised, Izzy.

"So, do you know how much you've got?" she asks Alex.

"Not a clue," he says, "I'll spend it all on sweets." At the disco, poor Alex tries a dance move, but bumps into Jacob.

Both of them have left their wallets unzipped and coins go flying everywhere, all over the dance floor.

You can see them both there, lying with coins strewn on the floor all around them.

Alex explains to Izzy what has happened: "My coins went everywhere." "Oh no.

Did you get them all back?" "That's just it.

I don't know." Why doesn't Alex know? What is it about how Alex prepared for the disco that means that he doesn't actually know whether he got all his coins back or not? "Oh, you and Jacob hadn't counted your money," says Izzy.

Because, of course, if they hadn't counted their money, then they wouldn't be able to separate the money back into the correct amount.

Let's do the first task then.

Number one, what might Alex have done differently to avoid this situation? And by that we mean the situation in which he's managed to confuse lots of his coins with those of Jacob who he crashed into while trying to do a dance move.

For number two, what is the same and what's different about the way that Alex and Izzy look after money? And for number three, who do you think is better at looking after money and why? If you want to, you could discuss these questions with somebody else if you're a bit short of ideas.

Pause the video here and have a go.

Welcome back.

Here are some of the answers that we thought of: For number one, if Alex had kept track of how much money he had, then he would be able to calculate how much of the money on the floor was his.

For number two, both Alex and Izzy use wallets and a piggy bank to keep their money safe.

That's really great.

The difference, though might be, that Izzy keeps track of how much she has, but Alex doesn't.

And number three, who's better at looking after money and why? Well, both Izzy and Alex keep money safe, but Izzy also keeps track of how much she has, so she's probably better at looking after money.

You may have had some slightly different answers there, and if you want some time to discuss those, then take it now by pausing the video.

Let's move on to the second part of the lesson then.

How to keep track.

Alex asks Izzy for help in keeping track of his money.

"How do you keep track of your money?" he asks Izzy.

It's always good to ask a friend if you need some advice.

"I keep a record of what I take out and put into my piggy bank." "What do you mean by record?" says Alex.

"I have a piece of paper." You can see her piece of paper there.

This is her record.

"I write down money I add or money I take away." So we've got Izzy's money record here: 10 pounds plus 1 pound, which is pocket money, is equal to 11 pounds.

11 pounds plus 1 pound, which is pocket money, is equal to 12 pounds.

12 pounds subtract 5 pounds, and we've got toy shop in brackets there, so presumably Izzy bought a toy, is equal to 7 pounds.

Ah, yes, that might well have been the football that she bought earlier.

7 pounds subtract 3 pounds, which is the sweets that she bought at the disco, is equal to 4 pounds.

So at the moment Izzy has 4 pounds.

"I get it.

So you have 4 pounds in your piggy bank at the moment," says Alex.

Well done, Alex.

Good understanding.

What do you think? Hmm.

Is this something you think you could do? "What do the words mean?" asks Alex.

What do you think they mean? "They remind me why I was adding or taking away money in case I forget." "So you can keep track," says Alex.

"I've designed my own record," says Alex.

Now you can see his looks a little different.

"This looks different to mine.

How does it work?" says Izzy.

Well, we're gonna ask you to do that.

We're gonna ask you to think about how this money record might work, and you can do that as your check for understanding.

It says, explain how Alex's money record works.

And, of course, the first thing you're gonna have to do is look closely at it.

Pause the video here and have a go at that.

Welcome back.

Alex is going to explain it, and I wonder whether his explanation is similar to yours.

He says, "I use a table.

The in column is added and the out column is subtracted." So you can see underneath the in column in that first row he puts plus 1 pound.

Total then is 11 pounds, and why is that? Well, it was pocket money.

Alex and Izzy think about how adults use money.

"Do you think adults keep a record?" "They have a bank account and use electronic money," says Izzy.

"Do they have to go to the bank to check?" "No, they can look online." Some of you may have seen something similar to this.

This is an online bank account, and you can see that there's a record there.

5 pounds spent at the toy shop, 2 pounds 90 spent at the coffee shop, and then this adult's received some money, from their sister, of 10 pounds, perhaps for her birthday or something like that.

Maybe it was money owed.

Okay, it's time for Task B, and number one, you're gonna compare Izzy and Alex's way of keeping track.

What's the same? What's different? Which do you prefer and why? Remember, this is about opinions.

Neither of these are wrong or right as it were.

They're just different ways of recording and keeping track.

For number two, can you design your own money record? You can use Izzy's or Alex's as an example if you want to.

Pause the video here and have a go at those tasks, and I'll be back shortly with some feedback.

Good luck.

Okay, let's give you some feedback then.

For number one, here's what we thought.

Both records show the amount of money that goes in and out and has a description for why.

In terms of differences, well, Izzy's uses equations, whereas Alex's uses a table format.

I wonder which you preferred.

Again, there's no right or wrong answer here, but if you have got a preference, can you explain why? So, for number two, you might have something that looks entirely different to either Alex or Izzy's.

Could you compare yours with somebody else? What's the same and what's different? Pause a video here to have a go at that.

Okay then, we've reached the end of the lesson, and here's a brief summary.

It is helpful to look after money by keeping a record of how much you have, particularly if you want to do any outrageous dance moves on the disco floor.

Keeping a record can be done in your own way.

My name is Mr. Tazzyman.

I really enjoyed that lesson today, and I hope you did as well.

Maybe I'll see you again soon in another financial education lesson.

See you later.