Children learn how to invest and budget at school

Bronwen Brown went to meet the children at Vale Primary School...

Children in Guernsey are learning how to spend, budget and invest their money to help develop their money-handling skills as they get older.

Students at Vale Primary School have been given a 'Bank Book' which they can work through to learn the best way to deal with money.

Throughout the term the children have earned 'money', which they can now choose to invest or spend in the school's mock bank and shop.

The children can choose how they want to spend their banked money. Credit: ITV Channel

With the help of volunteers from the Guernsey Investment and Funds Association (GIFA), they are engaging with terms and ideas that they will need in adult life.

GIFA's Mike de Haff says the children will benefit hugely from this initiative:

"It's about making sure that they understand that you can earn money and that money can gain interest, and that we save money for certain things.

"It's all about making sure they have those skills that we need as adults. It's for now and it's for the future as well."