Hubert Horatio Bartle Bobton Trent is the extraordinary only child of frightfully, frightfully rich, but financially incompetent parents. This story covers spending decisions, needs and wants, money personality, the difference between ‘good debt’ and ‘bad debt’, and a money plan or ‘budget’ to avoid unmanageable debt.
- When we make spending decisions, we need to differentiate between ‘needs’ and ‘wants.’
- People choose to spend money in different ways: some like to save money, others like to spend money.
- This is often known as their ‘money personality'.
- There is a difference between ‘good debt’ and ‘bad debt.’
- Having a money plan or ‘budget’ can be a good way to avoid unmanageable debt.
This unit of work relates to the following key competencies and values:
Thinking; Managing Self; Innovation, Inquiry and Curiosity; Integrity; Respect.
Enterprising Storybook 2: Hubert Horatio Bartle Bobton-TrentDownload overview
Students taking part will
- Understand the role of work in generating income.
- Differentiate between needs and wants.
- Identify items the Bobton-Trent’s spent their money on and explain the opportunity cost of the choices made.
- Identify factors that contribute to personal wealth.
- Give examples of the financial risks experienced by the Bobton-Trent‘s.
- Explain how these financial risks impacted the Bobton-Trent’s wealth.
- Distinguish between good and bad debt.
- Distinguish between manageable and unmanageable debt.
- ESB2: Hubert Horatio