Unique approach to financial learning gains currency

You’ve heard of the Australian dollar, the British pound and Japanese yen. You might be familiar with the Vietnam dong, Mexican peso or the Indian rupee. But chances are you’ve never heard of Brattbux.

Blackfriars’ Year 5/6 students are learning all about money management and economics thanks to Brattbux – an innovative and fun classroom scheme.

The boys earn Brattbux – the notes of varying denominations from $5 to $100 featuring their teacher Joshua Bratt’s face – based on their employment status and behaviour.

There are four “jobs”, president, banker, collector and cleaner, with each attracting a different weekly salary – “because we don’t all get paid the same, do we?”.

The boys have to pay rent on their table and chairs, compulsory insurance – $30 a week – and tax.

“And then they can get bonuses,” Mr Bratt said.

“So, you can get bonuses for being on task, or teamwork, or improving scores in our times table tests … or if they get positive feedback.

“And then they can get fined. So, if they’re dishonest, if they’re not doing their job properly, incorrect uniform, lack of organisation.”

Year 5/6 teacher Joshua Bratt with the Brattbux.

Once a week, the boys can visit the shop, where they use their Brattbux to buy things such as stationery, lollies and books.

“And then, in a few weeks’ time, we’ll have an auction,” Mr Bratt said.

“So, they’re learning whether they can have instant gratification of buying things now, or they can save, and buy something bigger. It’s economics, finance, but I guess, also, a bit of an appreciation of the real world, and how things actually work outside.”

All transactions are recorded on a spreadsheet – teaching skills in Excel – and the boys also have a rolling bank statement.

Students Alex Galkowski and Aariv Saini with their Brattbux.

Year 5 student Aariv Saini was stashing his Brattbux in readiness for the auction: “That should be exciting.”

Year 6 student Alex Galkowski said Brattbux was a “very good currency”.

“Sometimes I think maybe we deserve a little bit more, especially me, because I work two jobs – president and the other one is the banker,” Alex said.

“I’ve saved some money, but since Mt Bratt has introduced tax and insurance, and he made the insurance mandatory for some reason, some people have been starting off with negative money.