How does our money help other people? A question to prepare your pupils for the new school year.
When children think about money, they often start with the things they can buy, save for or spend. But money is about more than personal choices. It also helps us support our families, communities and causes we care about.
In this article, Paul Street, former headteacher and financial education expert, explores why helping children understand the wider impact of money is an important part of financial education, and how simple conversations can encourage them to think about generosity, responsibility and their place in the world around them.
When children think about money, their first thoughts are often about what they can buy, save for or spend. That's completely natural. After all, most of their experiences of money are personal: receiving pocket money, choosing a treat, saving up for something they want or seeing adults make everyday spending decisions.
But money doesn't just affect us as individuals. It also connects us to other people.
Every time we spend money, we're part of a much bigger picture. Buying a snack from a local shop supports a business and the people who work there. Donating to a charity can support causes and communities we may never see firsthand. Even paying taxes contributes to services that benefit society as a whole.
Helping children understand these connections can open up rich and meaningful conversations about generosity, fairness, responsibility and community.
looking beyond ourselves
One of the most valuable aspects of financial education is encouraging children to see money from different perspectives.
Questions such as these don’t always have clear answers:
Why do people choose to donate money?
How do charities use the money they receive?
Who benefits when we spend money locally?
What responsibilities come with having money?
Instead, they encourage discussion, critical thinking and curiosity about the world around us.
Many children will already be familiar with charities and may have taken part in sponsored events, cake sales, or non-uniform days to raise money for good causes. These experiences provide a valuable starting point, helping pupils see money not only as something we use for ourselves, but also as a means of supporting others.
Exploring how money can help others will likely lead to rich discussions around generosity, fairness and responsibility. By asking, ‘How does our money help other people?’ children can begin to see the impact their money choices have on communities, both near and far.
connecting financial education to everyday life
Money and its wider impact appear in school life more often than we might realise.
A fundraising event can prompt discussions about generosity and social responsibility. Enterprise activities can help children explore how businesses contribute to communities. News stories about public spending, taxes or the cost of living can raise questions about fairness, priorities and collective decision-making.
These moments create opportunities to help children think more deeply about the role money plays in society. Our LifeSavers classroom resources can help you deliver meaningful financial education alongside these opportunities. Whether as a maths, health, citizenship or wellbeing focus, our resources are ready to use and designed to support this work.
A question worth exploring
At Just Finance Foundation, "How does our money help other people?" is one of our Five Big Questions because it encourages children to think beyond transactions and towards relationships. We’ve got engaging lesson plans and activities that support pupils in developing thoughtful, real-life answers.
By exploring how money moves between people, organisations and communities, children begin to understand that financial decisions are rarely just about money. They are also about values, choices and the impact we have on others.
And perhaps that's one of the most important lessons financial education can offer: that money isn't only something we use for ourselves. It is also one of the ways we participate in and contribute to the world around us.
Work with us to make financial learning an everyday part of growing up for more children.
Paul Street
Financial Education Delivery Coordinator at the Just Finance Foundation, Paul supports the development of the LifeSavers programme and contributes to in-depth research and case studies with schools to help elevate our work. He brings over 30 years’ experience in primary education as a teacher, local authority mathematics adviser and headteacher, and is passionate about improving children’s life chances through financial education.