Money in the Classroom: A Subject Without Absolute Answers
The Grey Area of Money: Why Financial Education Isn’t Just About Right and Wrong
In schools, students are used to subjects where there are clear-cut right and wrong answers. Maths, for example, is an exact science – 2+2 will always equal 4. Yet, when we teach money within maths lessons, we often fail to acknowledge a crucial truth: real-world financial decisions rarely come with absolute right or wrong answers.
This is something we have discovered time and time again in our Money Wise Workshops, part of the Make Sense of Pence initiative. What started as a simple effort to teach children how money works – explaining terms like credit, debit, budgeting, and interest – has evolved into a much deeper conversation about decision-making, values, and personal finance choices. And this, perhaps, is the biggest challenge in financial education: it’s not just about numbers; it’s about choices.
Navigating the Grey Area of Financial Decisions
When we ask students about how money should be spent, we see first-hand that not all financial choices are simple or universal.
Take a recent workshop discussion:
A child had spent over £100 on mobile phone add-ons and was entirely happy with their purchase. Another child was frustrated that their parents wouldn’t let them spend just £5 on something they wanted. The second child believed the first had made a “bad” financial decision, while the first saw it as “good”. The truth? Neither of them was completely right or wrong. Financial decisions are subjective, dependent on context, priorities, and individual circumstances.
At Make Sense of Pence, our role isn’t to dictate whether spending choices are right or wrong but to help children think critically about their decisions. We encourage them to ask:
✔ Is this purchase necessary or just a want?
✔ What are the consequences of this choice?
✔ Will I still be happy with this decision in a month?
When Right and Wrong Get Blurry
This grey area extends to more complex topics, such as:
🔹 Credit vs Debit Cards – Some students assume credit cards = free money and don’t realise the debt implications. Others see credit cards as something to avoid completely, even though responsible credit use can help build financial stability.
🔹 Gambling & Risk – Is playing the lottery “wrong” if someone wins big? Is investing in stocks gambling? Some argue it’s a calculated risk, while others see it as luck-based speculation.
🔹 Spending vs Saving – Some people believe in saving as much as possible, while others advocate spending on experiences and living in the moment. Again, neither is inherently right or wrong—it depends on personal values and long-term financial goals.
Except for one rule: Stealing is always wrong. Beyond that, financial decisions require context, understanding, and informed choices.
Helping Young People Ask Better Questions
In our Money Wise Workshops, we focus on empowering children with knowledge rather than telling them what they should or shouldn’t do.
At the end of the day, we can’t tell a child whether they should buy expensive trainers over budget ones, but we can help them understand:
💡 The value of money
💡 The hidden costs of purchases
💡 The importance of informed decision-making
Financial literacy isn’t about knowing all the right answers – it’s about knowing the right questions to ask.
Conclusion: Why This Conversation Matters
Traditional education often avoids the grey areas of financial decision-making, but these are the very skills that will shape a child’s future financial well-being.
The world of money is rapidly evolving, and as young people are exposed to instant online transactions, brand marketing, and limitless financial choices, the ability to critically evaluate those choices will become one of the most valuable life skills they can develop.
At Make Sense of Pence, we are committed to helping young people navigate these decisions—not by telling them what’s right or wrong but by giving them the tools to make informed choices for themselves.
Want to Learn More?
📖 Explore our free financial education resources here: Make Sense of Pence Free Resources
🏫 Book a Money Wise Workshop for your school: Learn More
💡 Read more about our origin at Your Guardian