Student learning

• 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.

Curriculum links

This unit of work relates to the following key competencies and values:
Thinking; Managing Self; Innovation, Inquiry and Curiosity; Integrity; Respect.

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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.

Download includes:

• ESB2: Hubert Horatio

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