Squirrel embeds straight into the existing school ecosystem with minimum cost, fuss or effort
When we talked to school leaders we found there was a huge desire to teach financial literacy but the costs, time and human-resources required just didn’t make it feasible. That’s when we knew we had to build the platform to suit the needs of the schools.
Free for schools
Yes, you read that right! The Squirrel Financial Literacy Programme is completely free for schools to sign-up and start using in the classroom.
Easy to implement
Within an hour you can have your classroom up and running and students on their way to becoming financially literate!
Self-directed
The platform encourages students to learn at their own rate and in their own time, meaning there's minimum teacher-resource overhead.
We couldn't believe how quick and easy it was to get the Squirrel platform up and running in our year 5 classroom"
Real world simulation
Squirrel Education’s financial literacy learning environment is based on the simulation of scenarios that are consistent with adult life. This environment is expected to encourage sound financial skills through repetition and practice that will carry into adult life.
Our platform will give students as young as seven years old the opportunity to experience a wide range of real world financial management activities such as earning an income, paying bills, transferring funds to savings accounts, preparing for emergency expenses, and so much more.
Online Banking Dashboard
Our platform has been built to recreate an online banking dashboard experience, which is typically the epicentre of today's money management. Our intention is to get children comfortable with navigating the simulated banking dashboard.
Avatar and marketplace
When logging in for the first time, each child will be asked to create their own avatar. Throughout the term, students will be able to customise the avatar’s appearance, clothing and accessories by purchasing items in the online marketplace. This feature helps to bring the game to life but will also challenge students to think about ‘needs’ versus ‘wants’ as they balance marketplace purchases with their financial commitments.
Transferring funds
Just like adults, students will be able to move funds between different accounts within their online banking dashboard. The platform will provide three account types: a current account, savings account and an emergency fund. Children will get paid into their current account but will be encouraged to fund their emergency fund and their savings accounts. By funding their savings account, children will progress up the ladder from ‘bronze status’ through to ‘platinum status.’
Simulated regular income
Students will be paid a regular weekly salary in virtual currency that will be deposited into their current account for attending school. This currency will power their progress throughout the term as their income is a finite resource and they will need to be intentional about how they redirect it.
Preparing for emergencies
We never know when life will throw a curveball at us. That's why we have simulated different life events to be randomly delivered to our students to encourage them to set aside some of their income in an emergency fund. Dental and medical bills, flat tyres on the school bus, or a contribution to fixing a leak at school are all types of unexpected events that will challenge the students.
Class competition and league table
Children will be competing both against and with their peers. The class leaderboard will challenge children to collect as many points through their financial decision making as possible, which will help to encourage accountable individuals. However, the overarching goal is for the whole class to beat the system. This is done when the class savings average reaches the gold saving status. This simulates the notion that by being personally accountable, individuals can also positively contribute to the wider society.
Upcoming features
Investing
A virtual investment platform to help children understand traditional asset classes, such as Stocks and Bonds, and the new universe of digital assets such as cryptocurrency and NFTs.
Savings strategy
Within a student's online banking they will have regular reminders to set monthly budgets and savings targets to encourage building these habits into their lives.
Starting businesses
The opportunity to start businesses such as coffee shops or restaurants to understand the risk-reward trade off of entrepreneurship.
Borrowing funds
To help purchase real estate or other assets, students will get experience in borrowing funds from financial institutions in the form mortgages and personal loans.
Buying property
Students will be able to purchase real estate to start increasing their regular income through rent.
Charitable giving
Students will be rewarded for making regular contributions to different charities.
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