Local Beaver Colony supported to achieve ‘money skills’ badge

The children of 1st Crownhill Beaver Colony received some welcomed support this month from Milton Keynes-based Fintech, IE Hub. The award-winning start-up worked with the group to explain the history of money and the importance of budgeting.

Assistant Beaver Leader Katy Winkle said, “We had a visitor in to tell the Beavers all about the history of money and to talk about coins from all over the world. They were amazed when he showed them some banknotes from Zimbabwe, particularly the 10 billion dollars note!

“The group conducted some coin rubbing, and in their lodges (groups of 6 children), they were given pictures of 9 different items, ranging from a single banana to a superyacht, and they had to match the items to the correct price tag. The exercise saw a house sold for £200! Interestingly the children all thought that a holiday was more expensive than a house or a car. We think this is because they see a house as something that all people have, whereas a holiday is a luxury.”

As part of the exercise, each child was gifted a chocolate coin each week and given the option to eat it immediately or put it into the Beaver Bank, on the understanding that at the end of term they could then exchange their coins for a larger item. The vast majority of children saved all of their coins, and those that chose to eat them at the first meeting decided to save their following coins. At the end of term, the coins were returned and the children were able to purchase larger items from the ‘Beaver Shop’.

IE Hub Marketing Director Gemma Cryan said, “Teaching children about money equips them with the knowledge and skills they need to manage their money effectively now and in the future. We were delighted to be able to support the Beavers of 1st Crownhill Beaver Colony.

Notes to Editors

This was a local initiative, with IE Hub specifically sponsoring 1st Crownhill beaver. IE Hub is not associated nationally with Beavers. No Beaver logos are permitted for use.

For more information or to speak to IE Hub please contact Gemma Cryan, Marketing Director:
Email: gemma@iehub.org
Tel: +44 190 891 5522

About IE HUB
IE Hub is an online application that makes completing an Income and Expenditure easier and more convenient, allowing customers to share Income and Expenditure information with multiple companies, putting them in control of their financial situation.
IE Hub’s added intelligence means customers answer the questions that are relevant to their personal circumstances. Manual and Open Banking completion methods mean fewer mistakes and a true Income and Expenditure profile. Customers can compete and share their income and expenditure information with you by visiting www.iehub.co.uk


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About IE Hub

IE Hub is a free, online application that makes completing an Income and Expenditure easier and more convenient, allowing customers to share Income and Expenditure information with multiple companies, putting them in control of their financial situation. IE Hub’s added intelligence means customers answer the questions that are relevant to their personal circumstances. Manual and Open Banking completion methods mean fewer mistakes and a true Income and Expenditure profile. Customers can compete and share their income and expenditure information with you by visiting https://customer.iehub.co.uk/#/