Money, Money, Money!

Throughout these past 3 months, the Grade 10 and 11 King’s Trust class immersed themselves into another one of their KTI portfolios, this time completing their module on Money Management.

Although daunting at first, the topic proved to be a truly interesting and engaging one. The girls were given the opportunity to explore and understand the various ways a bank functions and the various services it offers to clients. The unit also offered the girls a better understanding of what a job pay slip looks like and what deductions are also made from monthly wages etc.

Since money budgeting skills are of utmost importance, the girls were also encouraged to works as a team on a monthly budgeting plan activity. During a particular lesson, they were handed 4 different family situations holding different job positions, different family backgrounds and circumstances, individual monthly expenses etc. The girls were handed an empty budget plan which was previously discussed an set up in class in a preparatory lesson. They were then left to discuss and plan a customized monthly plan for the family situation they were each handed. The girls were then encouraged to present their monthly budget plan to the rest of the class. The girls truly enjoyed this activity as it was an engaging one and a tool they can further refer to and practice in the near future.

Besides class based activities, the KTI girls were also accompanied on two separate occasions on two outings in connection to money matters.

On the 13th of November, the girls were accompanied on a morning visit to the Central Bank in Valletta. They were given an interesting presentation on the way the Central Bank functions and a brief outline of Malta’s Coinage history. It is also interesting to note that for our presentation we were guided into one of the Central Bank boardrooms, which was originally used as a gunpowder storage room (known as the ‘Polverista’ hall), built and used by the Knights of St. John!

The visit was concluded with a guided tour led by the Currency Museum curator Mr. Kevin Cassar, who kindly ushered us back inside the Central Bank foyer to get a close look at the wonderful collection of old coins exhibited to the public. This visit was indeed a fantastic opportunity for our students to learn about the historical side of money relations in Malta and the way money has evolved throughout history as well as an insight on the function of the Central Bank.

As a final conclusion to our Money Management unit, the girls were also offered to visit the HSBC head office in Qormi on the 20th of March. They were offered to follow yet another engaging presentation with main focus on both local and online bank services offered to the public and a deeper understanding of how an ATM machine works. During our one-hour workshop, the students were also invited to watch a series of short sketches prepared by local teachers from the Home Economics Centre in Malta as part of the ‘Be Wise Pay Smart’ visit at HSBC. Before our return to school, the girls were also presented with a certificate of attendance and were gifted an HSBC goodie bag and offered healthy refreshments.

We now look forward to complete this scholastic year with another new King’s Trust module which will further encourage our students to embark on more exciting opportunities and experiences. Well done to all KTI students and LSEs for your constant commitment and enthusiasm.

Ms Margaret Vella