MYmini PERSONAL FINANCE
DEBIT CARDS
Children should understand what a debit card is so they can learn how money is spent electronically, recognise that it draws from real funds in a bank account, and develop smart financial habits early.
Choose your debit card resources here....
1. EXAMPLE DEBIT CARD
This is a great place to start. Show the completed example of the debit card to the children and ask them to discuss what they can see. Do they know what each element of the card and its details are used for?
Which details should be kept secure?
Collect in some ideas before showing the information slide below.
2. INFORMATION SLIDE
Display the overview slide of debit card and discuss the different information included on each card. You can give further explanation for each element suitable for the age of your pupils. Highlight the padlock image for each detail held on the card to reenforce its importance in keeping it safe.
3. BLANK TEMPLATE
A debit card template is available for pupils to create their own personalised finance card. Pupils will love making their own debit cards helping them to develop their understanding of how a debit card is used and how they can be managed.
There are 4 cards to each page including both the front and back ready for print. For instructions on how to make your own debit card, click here…
For the best finish, print on to card.
INSTRUCTIONS:
1. Cut each page into 4 strips to show the front and back of each card side by side.
2. Fold in half to show the front and back of the card.
3. Glue the inside to form a rigid card.
4. Wait for the glue to dry and trim around the edges.
FILL IN PUPIL DETAILS…
Use the information slides above and refresh the pupils on the different elements of each card to make the card unique to each pupil.
!! PERSONAL DETAILS & SECURITY… !!
The pupils can write their name on the front of the card, but should use only random numbers to populate all other required information on the card.
Discuss which personal numbers should not be used by the? i.e. DOB, phone number, etc…
If the pupils use their own name, you can now highlight the importance that they keep their card safe and away from others to help keep themselves financially secure.
Discuss what would happen if a teacher, pupil or anybody else were to find their card and how this personal information would be at their fingertips!
4. TRANSACTION RECORD SHEET
There are many ways in which this activity can be delivered, here are a some ideas…
You can play out a one month period using the debit card. As a class, provide the pupils with a series of transactions throughout the month for the pupils to fill in on the provided transaction sheet. Ask the pupils for their own ideas on transactions, but ensure to include the depositing of money back into the account to demonstrate how this operates.
The pupils could also set up their own shop selling 1 or 2 virtual items for the other pupils to purchase using their debit card. This should stimulate discussion on using contactless or chip & PIN transactions. This will allow the pupils selling to make deposits into their account as well as debiting the accounts of the purchasing pupil. Intervene with some whole class transactions. You could run a competition to see who has the most sales from the pupils’ final balances at the end of the session.
