K&H: when finances become an experience at school

The importance of financial education has increased dramatically in recent years: children are encountering shopping situations, digital payments and the temptation of advertisements at an ever earlier age, while at home, what is worth spending on and how to save money is often discussed. In this environment, initiatives that do not explain abstract concepts but teach through practical situations play a particularly important role.

The K&H Vigyázz, szét, pénz! contest is like this: for more than a decade and a half, it has provided a framework for primary and secondary school students to learn about the origin of money, the world of coins and banknotes, payment options, the logic of the family budget, loans and the basics of insurance through team work and tasks. However, teachers who “translate” financial topics into the students’ everyday lives during the preparation are at least as important in the contest.

A teacher’s experiences on financial education

“In 2010, as a school competition manager, I noticed the contest and immediately saw in it an opportunity for children to gain insight into the world of adults at their own level, yet in a way that could be taken seriously”

– said Tímea Vértesi Ungainé. In her experience, motivation often stems from the fact that students feel that this is not just a school assignment, but knowledge that they can later use in real decision-making situations.

Their preparation has been taking place in the context of a professional club since September, separately for lower and upper grades, for one hour a week. In the first semester, the main areas are covered thematically, and then the children set off on the test – since the same basics return year after year, the teacher can always build on previously acquired knowledge and further expand it.

The two most common pitfalls: teamwork and conceptual confusion

According to the teacher, two things usually cause difficulties at the beginning of preparation. One is teamwork: not everyone comes naturally to how to think together, share tasks, listen to others and find a common solution. This can be helped with a lot of group work, conscious team composition and recognition of strengths, because in good teams everyone finds a role in which they add value.

The other typical mistake comes from overload: children sometimes do not learn the concepts firmly enough or mix them up. In such cases, a lot of repetition, practical examples and video content for students also help, because they record the same knowledge in a new, more experiential form. The goal is that each age group gets “a little more” than what we would expect from their grade – so that children not only learn, but also understand the concepts.

When banks and inflation “become a game”

The real turning point in financial knowledge comes when children do not just hear about money, but experience how it works in a playful system of rules, through their own decisions. Various financial quizzes and experience-based programs play a key role in this – including tasks related to the K&H Vigyázz, szész, pénz! initiative – which embed learning in competitive situations and decision-making situations.

For example, at the Hajdúszoboszló school, PÉNZ7 is a complex game that lasts two weeks: students sign an “employment contract” and receive a symbolic “payment” for good behavior and diligence. In the first week, they save and bank, and can even try out forms of investment, while following the movement of exchange rates daily. In the second week, the “PÉNZ7 Shop” opens, where they can shop with the “money” they have earned and set aside.

According to the teacher’s experience, it is in these situations that they truly understand what saving is, what a sale means, and how inflation works – and in a way that even a first-year student can experience. Parents also often get involved in the programs: they give advice, talk to their children about what is worth spending on or what is better to save, and thus financial decisions become a topic at home.

The benefit of the competition: more logical thinking, more courageous speaking

According to Tímea Ungainé Vértesi, the effect of K&H Vigyázz, szész, pénz! is visible both in knowledge and in the way of thinking. The students expand their financial vocabulary, speak more courageously on the topic, and their mathematical skills improve.