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© ATOM 2018 ISBN: 978-1-76061-194-1

A STUDY GUIDE BYKATY MARRINER

Hosted by star mathematics teacher, Eddie Woo, Teenage Boss sees a range of teenagers from diverse families put in charge of the monthly budget to teach them valuable lessons about financial responsibility and planning. Under Eddie Woo’s mentorship, the teenagers experience for the first time the ups, downs, fun and fear of the real world financial challenges their parents have to face every day.

CONTENT HYPERLINKS

3 CURRICULUM LINKS

4 EPISODE SYNOPSES

4 EDDIE WOO

5 MEET THE TEENAGE BOSSES

7 WHAT IS FINANCIAL LITERACY?

7 WHAT IS A BUDGET?

7 FIXED AND VARIABLE COSTS

7 YOU BE THE TEENAGE BOSS

8 ACTIVITY SHEETS:

8 Vasanth

11 Ellenor

14 Byron

17 Susan

19 Imogen

22 Michael

25 Christabel

28 Dimity

31 Harry

34 Mikayla

37 Nick

40 Elinya

42 Ula

45 Mitchell

48 Hayley

51 WHICH TEENAGE BOSS WAS THE BEST?

52 TASKS

54 RECOMMENDED LINKS

Commissioned by ABC ME and produced by McAvoy Media, Teenage Boss is based on Norwegian public broadcaster NRK’s successful international format.

Eddie Woo with Christabel O’Neill and her family

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Curriculum linksTeenage Boss is an observational documentary series that can be used to teach students about the value of money and the im-portance of financial literacy. Developing financial literacy skills and capabilities is essential in ensuring that children and teenag-ers are able to make responsible and informed decisions and are equipped to face financial challenges now and in the future.

The series is suitable viewing for students in Years 5 to 8. Teachers of Years 5 and 6 may find the episodes that feature the youngest participants are more appropriate for their students. Teachers are advised to preview Teenage Boss prior to use in the classroom.

There are fifteen episodes in the series. Each episode has a run time of 26 minutes.

This study guide to accompany Teenage Boss provides informa-tion and suggestions for learning activities in:

• English• Mathematics• Humanities and Social Sciences

Teenage Boss is also relevant to the teaching of the following General Capabilities:

• Literacy• Numeracy• Ethical Understanding

Recommended link: https://www.australiancurriculum.edu.au/resources/curriculum-connections/portfolios/consumer-and-financial-literacy/

In completing the tasks, students will have developed a

knowledge and understanding of:

• The nature, forms and value of money;• the importance of financial literacy;• how to make responsible and informed decisions about

money;• the importance of savings;• how decisions about money and the management of money

affects an individual’s and a family’s quality of life.

In completing the tasks, students will have demonstrated the ability to:

• describe the spending and saving behaviours of the teenage bosses;

• analyse the financial decisions made by the teenage bosses;• evaluate the effectiveness of the teenage bosses;• identify their own and their family’s financial priorities;• identify their attitude to spending and saving;• evaluate their spending and saving behaviours;• compile a budget;• use their own written and spoken texts to explore ideas and

issues and to clarify their own and others’ understanding;• respond to a documentary series both personally and in

detached and critical ways.

The activities featured in this study guide promote student engagement and active participation via individual reflection, class discussions and small group work. Multiple activities are provided to allow teachers to select those that will best suit the demands of the subject and the needs of the students. Each of the fifteen episodes can be viewed as stand-alone programs. There is an activity sheet for each episode. Suggested answers to the activity sheet tasks are provided.

L-R: Mitchell Kwan; Bryon Kay; Christabel O’Neill

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EPISODE 1: When thirteen-year old Vasanth’s mum gets sick while he is in charge of the family budget, he risks spending all he has saved to buy scooter accessories to make her better.

EPISODE 2: Thirteen-year-old Ellenor is a natural at taking control, but when her family budget takes hit after hit during the month she is in charge, her dreams of saving money for a brand new double bed quickly sour.

EPISODE 3: Every cent counts for thirteen-year-old Bryon as he takes over the family’s finances, but with mum and dad refusing to listen tough rules need to be put in place.

EPISODE 4: With a massive birthday party to pay for as part of her monthly expenses, fifteen-year-old Susan needs to juggle the family budget to save enough money for the awesome headphones she dreams of buying.

EPISODE 5: Imogen is a fifteen-year-old star of the stage, but as the teenage boss, her focus is saving money from the family budget. Her task is all the more difficult given her dad, a professional body builder, eats a fortune in food every month.

EPISODE 6: When fifteen-year-old Michael comes home from his first shopping trip as teenage boss with a brand new coffee machine and next to no food, his father and brother are in for a rocky month indeed.

EPISODE 7: It’s a rock and roll life all the way for fan girl Christabel. By taking over the family’s modest income, she hopes that she can save enough to buy the guitar she craves, or better still afford a secret holiday for her mum and three siblings.

EPISODE 8: When thirteen-year-old Dimity becomes the boss of her family for a month she quickly discovers that unexpected school bills and her big brother and sister make saving for make-up and clothes far harder than she ever imagined.

EPISODE 9: Sixteen-year-old Harry is a country boy who dreams of making it big as a film maker. When Harry takes control of his family finances for a month, his desire to buy an expensive new camera with any savings ensures his parents and sister are in for a very bumpy ride.

EPISODE 10: It’s a steep learning curve for thirteen-year-old Mikayla, when her own frivolous spending on clothes and expensive foods tips her budget into debt. Will she be able to save enough in the last two weeks of the Teenage Boss experiment to drive her budget back into the black?

EPISODE 11: With his little sister, Zoe along for the ride, Nick is in for a big adventure as Teenage Boss. Zoe’s birthday party, Dad’s holiday and Mum’s makeup expens-es means that saving money from the family budget to buy a new pair of soccer boots isn’t going to be easy.

EPISODE 12: Elinya is old enough to be learning to drive a car, but how will she go taking the wheel of her family’s finances for a month given her mum’s ‘secret’ spending and an avoidable vet bill for Missy the dog?

EPISODE 13: When her family budget is hit with chal-lenges, music fan Ula rises to the occasion. As Teenage Boss, she learns not just how to save money from her family budget but how to make money to add to it.

EPISODE 14: Fourteen-year-old Mitchell is a whiz at solving the most grown up maths problems and puzzles, but he soon learns that being the Teenage Boss of his own family for a month is more about dealing with ‘people’ puzzles.

EPISODE 15: Hayley loves Horses, and has her sights set on running a business based on rescuing them, but with such massive dreams at stake her parents want to give her an expense-filled month as Teenage Boss to help her prepare.

Eddie WooEDDIE WOO, THE HOST OF TEENAGE BOSS, IS AN AUSTRALIAN MATHEMATICS TEACHER. WOO IS THE HEAD MATHEMATICS TEACHER AT CHERRYBROOK TECHNOLOGY HIGH SCHOOL, SYDNEY. HIS YOUTUBE CHANNEL HAS OVER 280,000 SUBSCRIBERS AND MORE THAN 14 MIL-LION VIEWS WORLDWIDE. EDDIE IS A MENTOR FOR EACH OF THE TEENAGE BOSSES.

RECOMMENDED LINKS

ABC iview: https://iview.abc.net.au/collection/1947Facebook: https://www.facebook.com/eddiew00Instagram: https://www.instagram.com/misterwootube/?hl=enTwitter: https://twitter.com/misterwootube?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5EauthorYouTube: https://misterwootube.com/

Episode synopses©

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Meet the teenage bosses

Byron

‘THE PROBLEMS THAT I HAVE WITH MONEY IS THAT I DON’T REALLY HAVE ENOUGH. I NEED MORE MONEY.’

Thirteen-year-old Byron wants to be a soccer superstar. He lives with his car loving dad, Jaime, and sports mad mum, Anna.

Christabel

‘I THINK MUSIC IS THE BIGGEST THING IN MY LIFE.’

Fifteen-year-old Christabel lives with my mum, Andrea, her sisters Catarina and Clarissa, and her brother Peter. Most of her money, and her mum’s money, is spent on concert tickets.

Dimity

‘I HAVE QUITE EXPENSIVE TASTE IN CLOTHES.’

Dimity is a thirteen-year-old who loves sailing, playing the cello, and spending money. She lives with her parents, her brother Yoti and her sister Kat.

Elinya

‘I HAVE A VAGUE IDEA WHERE THE MONEY GOES EVERY MONTH BUT I DON’T KNOW EXACTLY HOW MUCH IT COSTS EACH TIME WE NEED SOMETHING DIFFERENT.’

Sixteen-year-old Elinya is learning to drive. While she is an expert when it comes to spending on clothes, shoes and accessories, when it comes to managing money her parents think she should still be on her L plates.

Ellenor

‘I NEED MONEY FOR WHEN I GO OUT WITH FRIENDS, GO SHOPPING, WATCH A MOVIE, OR SOME LOLLIES.’

Ellenor is a thirteen-year-old who loves shopping. Her other passion is reading. Ellenor lives with her parents and her sister, Shelby.

Harry

‘ONE DAY I WOULD LOVE TO TRAVEL TO AMERICA. EVERYTHING’S BIG IN AMERICA.’

Sixteen-year-old Harry is a videographer and aspiring filmmaker. He has his sights set on leaving his family’s farm and finding fame in Hollywood. Harry lives with his parents and his younger sister Ella.

Hayley

‘I ABSOLUTELY LOVE HORSES, ALWAYS HAVE. RIDING AND HAVING THAT CONNECTION WITH THEM IS JUST DEFINITELY SOMETHING THAT’S JUST ALWAYS BEEN THERE FOR ME.’

Fifteen-year-old Hayley is mad about horses but her obsession comes with a huge price tag. Hayley lives with her parents and her older brother Blake.

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Imogen‘DANCING IS A HUGE PART OF MY LIFE, I SPEND UP TO, LIKE, SIXTEEN HOURS A WEEK DOING IT, AND I JUST LIVE FOR THE STAGE.’

Imogen is an energetic fifteen-year-old who loves to dance. She lives with her father who is a professional body builder and her brother who is forging a career as an actor.

Michael

‘SO I KIND OF NEED TO GET INTO THE SPIRIT OF SAVING MONEY.’

Fifteen-year-old Michael is better at spending than he is at saving. He lives in the inner city with his father and his younger brother John.

Mikayla

‘I LIKE TO SPEND MY MONEY ESPECIALLY ON FASHION, SHOES, THE CINEMAS.’

Thirteen-year-old Mikayla has trouble holding on to money. As well as spending, she loves playing sport and skateboarding. She lives with her parents, brother Kyle and sister Teneal.

Mitchell

‘I DEFINITELY THINK MATHS IS EVERYTHING. IT’S SO INTERESTING.’

Mitchell is a thirteen-year-old maths whiz who has a lot to learn about real life number crunching. He lives with his mother and his brother Koby.

Nick

‘MY FAVOURITE SPORTS WOULD BE AFL, SOCCER, AMERICAN FOOTBALL, TAE KWON DO, TOUCH FOOTY, RUGBY LEAGUE, RUGBY UNION.’

Twelve-year-old Nick loves sport. He also loves spending money but not his own. Nick’s bank balance is respectable but his parents think he needs to pay his way. Nick lives with his parents and his younger sister Zoe.

Susan

‘I GO HARD IN EVERYTHING I DO AND I LOVE CHALLENGES. LIKE I’LL GIVE 150%.’

Fifteen-year-old Susan loves netball, hanging with friends and spending money. Susan and her parents came to Australia as refugees from South Sudan in 2004. Her sisters were born in Australia.

Ula

‘I REALLY WANT TO BE A PROFESSIONAL RECORDING ARTIST AND HAVE MY OWN ALBUMS.’

Fifteen-year-old Ula loves to sing. When she’s not singing, she is shopping. Ula lives with her mum Lana and her dad Al.

Vasanth

‘I LOVE SCOOTERS. IF EVERYONE LIVED IN MY UTOPIA, EVERYONE WOULD BE JUST RIDING SCOOTERS TO WORK. THERE WOULD BE A SKATE PARK WITHIN EVERY TWO KILOMETRES.’

Vasanth is a thirteen-year-old with a passion for scooters. His other weakness is cookies. Vasanth lives with his mother, Sathya, his father, Shan, and his older brothers, Ananth and Jayanth.

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You be the Teenage BossImagine if you were the Teenage Boss of all your family’s money and you could buy whatever you wanted, whenever you wanted, without having to ask your parents, what sort of boss would you be?

1. Just like the Teenage Bosses, compile a budget for your family. You are in charge of the family’s budget for a fortnight.

2. Before you begin, think about the decisions that the Teenage Bosses made and the outcomes of these decisions. Which Teenage Boss is your role model? Which family featured in the series is most like your family? Like the Teenage Bosses, you are only responsible for the variable costs.

3. What is your savings goal? Your goal should be something that your family will enjoy.

4. Prepare a PowerPoint or Google Slides pres-entation that provides an explanation of the budget. Present your presentation to your family. With the help of a family member or friend, film the presentation and your family’s reactions to your budget.

5. Like the Teenage Bosses, you are expected to plan the family’s meals for the fortnight and go grocery shopping. Make sure that you make a photo or video diary of both tasks.

6. Assign pocket money to each family member. Make sure that they know what they have to do to earn their pocket money?

7. Some of the Teenage Bosses, thought of simple and also creative ways to reduce their family’s spending. How can your family economise?

8. Keep a blog that documents your Teenage Boss experience. Your blog should provide written and visual evidence of your time as Teenage Boss. Make daily posts about the ups and downs of being Teenage Boss.

What is financial literacy?

Financial literacy is defined by the OECD as:

‘Knowledge and understanding of financial concepts, and the skills, motivation and confidence to apply such knowledge and understanding in order to make effective decisions across a range of financial contexts, to improve the financial wellbeing of individuals and society, and to enable participation in economic life.’

Financially literate individuals can be expected to be able to make decisions about finances based not only on their current needs but also on their anticipated future needs.

• Financial literacy is the knowledge, skills and capability to un-derstand how to manage money, build savings, make sound investment decisions, and manage debts.How financially literate are you? Rate your financial literacy on a scale of 0 to 10. 0 is the lowest score and 10 is the high-est score. Give a reason for your rating.

• Eddie hopes that the Teenage Bosses will learn the ‘true value’ of money. Do you think you know the ‘true value’ of money?

• If you don’t have enough money to buy something you really want what are you most likely to do?

• Do you have a bank account? Do you have a keycard? Do you make your own deposits and withdrawals?

• Are you better at saving money or are you better at spending money?

• Do you have savings goals?• How do you earn money?• Who do you discuss money matters with?

What is a budget?A budget is a spending plan that allows you to balance income and expenses. A budget allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do. Following a budget is a way to track your spending. A budget is also a way to create savings and avoid debt.

• Do you use a budget? Why or why not? Do you think a budget is a good idea?

• Does anyone in your family use a budget? Use your phone to record a vox pop Q & A with a member of your family about whether or not they use a budget.

Fixed and variable costsThe Teenage Bosses are responsible for the variable costs associated with their family budgets.

• What is a fixed cost? Give examples of the fixed costs that the Teenage Bosses are not responsible for.

• What is a variable cost? Give examples of the vari-able costs that the Teenage Bosses are responsible for.

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EPISODE 1

VasanthVasanth is a teenager who knows exactly what he wants but what he lacks is the financial freedom to make it happen. His mum and dad only give him money when he needs it.

Age:

Family members:

1. List the items that Vasanth likes to spend his money on.

2. What do Vasanth’s parents think about his spending habits?

3. What does Vasanth dream of spending money on?

4. Do Vasanth’s brothers think that he will be a good Teenage Boss?

Vasanth’s family spend $9345 a month. He is surprised to learn that his family spends so much money every month and he feels both excited and nervous about being responsible for such a large amount of money. If there is any money left at the end of the month, Vasanth can decide how this money will be spent.

5. What is Vasanth’s saving goal?

After Eddie explains the family’s monthly expenses to Vasanth, he plans the family’s budget for the month. He be-lieves that his cuts to the family budget will result in a saving of $195.

6. What decisions does Vasanth make about his family’s budget? Do you think his decisions are sensible? Give reasons.

ACTIVITY SHEETS:

Top: Eddie Woo gives Above: Vasanth Kumaraligam with the cash

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What do Vasanth’s parents and brothers think about his deci-sions to reduce spending on home maintenance, groceries, takeaway meals and entertainment? Why?

Now that he is Teenage Boss, Vasanth is in charge of gro-cery shopping. His plan is to spend approximately $100 on groceries for five days.

7. Does Vasanth’s grocery shopping go to plan? What does he learn?

Rate Vasanth’s grocery shopping on a scale from 0 to 10. 0 is the lowest score and 10 is the highest score. Give a reason for your rating.

0 1 2 3 4 5 6 7 8 9 1 0

Are his family happy with his purchases?

Vasanth and friend Thivyan Aravinthan do the family grocery shopping

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Vasanth’s mum goes shopping. She spends $75 on things for the house and garden. She also wants more money to buy potting mix. Vasanth’s brothers spend $221.98 on concert tickets. His family also buy takeaway for dinner without ask-ing his permission.

8. How does Vasanth respond to these expenses?

Vasanth asks Eddie for advice about how to control his fam-ily’s spending. What are the outcomes of this conversation?

9. Vasanth’s mum becomes ill and requires medication. Explain Vasanth’s view of this unexpected expense.

Money saved: $

What has Vasanth learnt during his time as Teenage Boss?

What have Vasanth’s parents and brothers learnt about their spending habits?

How does Vasanth plan to spend the money that he has saved from the family budget?

Rate Vasanth as a Teenage Boss on a scale from 0 to 10. 0 is the lowest score and 10 is the highest score. Give a reason for your rating.

0 1 2 3 4 5 6 7 8 9 1 0

10. Watch

the Budget Reveal.

From top: Vasanth brings the shopping home and shows his mother Sathya the shopping; Eddie Woo and Vasanth Kumaralingam

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EPISODE 2

EllenorEllenor is a teenager who loves to spend money. She loves reading and shopping, but when it comes to earning the money for the things she wants, she lacks motivation.

Age:

Family members:

1. Each week, Ellenor receives $10 pocket money. List the items that Ellenor likes to spend her money on.

2. What do Ellenor’s parents think about her spending habits?

3. What does Ellenor dream of spending money on?

4. Does Ellenor’s family think that she will be a good Teenage Boss?

Ellenor’s family spend $4,013 a month. She is excited to have control of so much money, especially because she will not have to ask her parents to fund her shopping adventures. If there is any money left at the end of the month, Ellenor can decide how this money will be spent.

5. What is Ellenor’s saving goal?

Eddie Woo reveals cash to Ellenor Koch, mother Ronnie-Lee and father Paul

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After Eddie explains the family’s monthly expenses to Ellenor, she plans the family’s budget for the month. She believes that her cuts to the family budget will result in a saving of $394.

6. What decisions does Ellenor make about her family’s budget? Do you think her decisions are sensible? Give reasons.

What do Ellenor’s parents and sister think about her deci-sions to reduce spending? Why?

Now that she is Teenage Boss, Ellenor is in charge of grocery shopping. Her initial plan is to spend approximately $250, until she realises that this is what the family usually spend each fortnight.

7. Does Ellenor’s grocery shopping go to plan? What does she learn?

Rate Ellenor’s grocery shopping on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

0 1 2 3 4 5 6 7 8 9 1 0

From top: Ellenor Koch with Eddie Woo; Ellenor’s parents after Eddie gives her the briefcase of the monthly budget

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Are Ellenor’s family happy with her purchases?

8. Ellenor asks Eddie for advice about how to manage her spending without compromising her savings. What are the outcomes of this conversation?

Ellenor’s mum creates havoc when she shows Ellenor the ex-cess water bill for $140.75 and the bill for her father’s security licence for $140.

9. How does Ellenor respond to these expenses?

Money saved: $

What has Ellenor learnt during her time as Teenage Boss?

What have Ellenor’s parents and sister learnt about their spending habits?

How does Ellenor plan to spend the money that she has saved from the family budget?

Rate Ellenor as a Teenage Boss on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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10. Watch

the Budget Reveal.

Left: Ellenor Koch with the breifcase full of cash

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EPISODE 3

ByronByron’s goal in life is to become a professional soccer player. Pursuing this ambition is expensive, particularly for Byron’s parents. Byron prefers to save his money rather than spend it. His other goal in life is to one day own a green Kombi van.

Age:

Family members:

1. List the items that Byron likes to spend his money on.

2. What do Byron’s parents think about his spending habits?

3. What does Byron’s father mean when he says that Byron ‘thinks money grows on trees’?

4. Do Byron’s parents think that he will be a good Teenage Boss?

Byron’s family spend $2308 a month. Having learnt about how his family spends money, he is ready for the challenge of being Teenage Boss. If there is any money left at the end of the month, Byron can decide how this money will be spent.

5. What is Byron’s saving goal?

From top: Bryon Kay with mother Anna Kay and father Jamie Kay; Byron Kay and Eddie Woo

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After Eddie explains the family’s monthly expenses to Byron, Byron plans the family’s budget for the month. He believes that his cuts to the family budget will result in a saving of $228.

6. What decisions does Byron make about his family’s budget? Do you think his decisions are sensible? Give reasons.

What do Byron’s parents think about his budget decisions, especially those related to pocket money? Why?

Now that he is Teenage Boss, Byron is in charge of grocery shopping. His plan is to spend somewhere between $120 and $150 when he visits the supermarket.

7. Does Byron’s grocery shopping go to plan? What does he learn?

Rate Byron’s grocery shopping on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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Are his parents happy with his purchases?

From top: Bryon Kay with mother Anna Kay, father Jamie Kay and Eddie Woo; Byron Kay with the money

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When Byron sits down to review the family’s expenditure, he finds unexpected receipts for lollies purchased by his father. He also questions the amount of money his mother spends on coffee and cake, along with her impromptu shopping trips.

8. How does Byron attempt to change his parents’ spending habits? Is he successful?

When Byron’s mother asks him to pay the council rates and his father buys an expensive pool cleaner, Byron is uncertain if there will be any cash left at the end of the month.

9. What advice does Eddie give Byron about dealing with these unexpected expenses?

What actions does Byron take to ensure that he can still achieve his saving goal?

10. Watch

the Budget Reveal.

Money saved: $

What has Byron learnt during his time as Teenage Boss?

What have Byron’s parents learnt about their spending habits?

How does Byron plan to spend the money that he has saved from the family budget?

Rate Byron as a Teenage Boss on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

0 1 2 3 4 5 6 7 8 9 1 0

Left: Bryon Kay with mother Anna Kay and father Jamie Kay

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EPISODE 4

SusanWhile Susan loves to spend money, the truth is that it’s her parents’ money that she loves to spend. Susan is persistent and will ask and ask again for the cash she needs to make her next purchase.

Age:

Family members:

1. List the items that Susan likes to spend her money on.

2. What do Susan’s parents think about her spending habits?

3. What does Susan dream of spending money on?

4. Do Susan’s parents think that she will be a good Teenage Boss?

Susan’s family spend $5050 a month. When she is given the briefcase of money, Susan feels like a millionaire and contemplates throwing a party for her friends. Her plans change when Eddie re-minds Susan that she does have some expenses to take care of first. If there is any money left at the end of the month, Susan can decide how this money will be spent.

5. What is Susan’s saving goal?

After Eddie explains the family’s monthly expenses to Susan, she plans the family’s budget for the month. She believes that her cuts to the family budget will result in a saving of $800.

6. What decisions does Susan make about her family’s budget? Do you think her decisions are sensible? Give reasons.

What do Susan’s parents and siblings think about her deci-sion to reduce spending on petrol and food? How do they react to Susan’s decisions about pocket money?

Susan Sogora with the money

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Susan and her parents once lived in South Sudan. They came to Australia as refugees in 2004. Every month, Susan’s parents send money to relatives still living in South Sudan. How does this expense impact on Susan’s budget?

Now that she is Teenage Boss, Susan is in charge of grocery shop-ping. With six people to feed, Susan’s family usually spends $1400 a month on groceries. Susan plans to spend approximately $1000 on groceries while she is Teenage Boss.

7. Does Susan’s grocery shopping go to plan? What does she learn?

Rate Susan’s grocery shopping on a scale from 1 to 10. 1 is the low-est score and 10 is the highest score. Give a reason for your rating.

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Are her family happy with her purchases?

8. Why does Susan have to rethink her budget? What changes does she make? How do these changes impact on her saving goal?

9. Susan is responsible for planning her mother’s birthday celebra-tion. How does Susan spend the $200 she has allocated for this event? What other decisions does she make to ensure that the celebration is a success?

Money saved: $

What has Susan learnt during her time as Teenage Boss?

What have Susan’s parents and siblings learnt about their spending habits?

How does Susan plan to spend the money that she has saved from the family budget?

Rate Susan as a Teenage Boss on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

0 1 2 3 4 5 6 7 8 9 1 0

10. Watch

the Budget Reveal.

Above: Simon and Anizia Sogora

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Imogen Van-Stolk with Eddie Woo

EPISODE 5

ImogenFor Imogen, dancing is an expensive and time consuming hobby. She may live for the stage but it is her father who foots the bill for all of Imogen’s dance related expenses. Imogen is quite surprised when she discovers that her hobby costs $1000 a month.

Age:

Family members:

1. List the items that Imogen likes to spend her money on.

2. What does Imogen’s father think about her spending habits?

3. What does Imogen dream of spending money on?

4. Does Imogen’s father and brother think that she will be a good Teenage Boss? List their concerns.

Imogen’s family spend $4138 a month. When Imogen’s brother Josiah learns how much money Imogen is in charge of, he is jealous. For Imogen, who has never compiled a budget before, her first day as Teenage Boss is ‘insane’. If there is any money left at the end of the month, Imogen can decide how this money will be spent.

5. What is Imogen’s saving goal?

After Eddie explains the family’s monthly expenses to Imogen, she plans the family’s budget for the month. She believes that her cuts to the family budget will result in a sav-ing of $500.

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From top: Imogen Van-Stolk with Eddie Woo; Eddie woo with Marinus, Imogen and Josiah Van-Stolk

6. What decisions does Imogen make about her family’s budget? Do you think her decisions are sensible? Give reasons.

What do Imogen’s father and brother think about her deci-sions to reduce spending on groceries, the family pet and clothing? Are her father and brother happy with Imogen’s decision about pocket money?

Now that she is Teenage Boss, Imogen is in charge of grocery shopping. Her plan is to spend $1400 rather than the usual $1600 on groceries. She hopes that her first shop will cost less than $350.

7. Does Imogen’s grocery shopping go to plan? What does she learn?

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Money saved: $

What has Imogen learnt during her time as Teenage Boss?

What have Imogen’s father and brother learnt about their spending habits?

How does Imogen plan to spend the money that she has saved from the family budget?

Rate Imogen as a Teenage Boss on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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Rate Imogen’s grocery shopping on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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Are her father and brother happy with her purchases?

Imogen sees a movie with her dance studio and goes ice skating with her friends. Josiah decides to go to the movies as well. When Imogen calculates the cost of their outings, she realises that she has overspent on entertainment by $80.

8. Imogen asks Eddie for advice about how to get the budget back on track. What are the outcomes of this conversation?

Imogen’s father discovers a love for clothes shopping. Josiah buys contacts because he doesn’t want to wear his glasses. Then there is the unexpected bill for roadside assistance and some mechanical work on both cars.

9. Describe Imogen’s response to these unexpected ex-penses. Where does she find the money to cover these costs?

10. Watch

the Budget Reveal.

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EPISODE 6

MichaelMichael is honest about his spending habits. He admits that when it comes to buying ‘something stupid’, he is an expert. The kazoo he bought for seven dollars is in his opinion the ‘worst seven bucks’ he has spent in his ‘entire life’.

Age:

Family members:

1. List the items that Michael likes to spend his money on.

2. What does Michael’s father think about his son’s spend-ing habits?

3. What does Michael dream of spending money on?

Michael has a part time job and has just received his first pay. Does he spend his earnings wisely?

4. Does Michael’s father and brother think that he will be a good Teenage Boss?

Michael’s family spend $2520 a month. He tells Eddie that being Teenage Boss is going to be the best month of his life. If there is any money left at the end of the month, Michael can decide how this money will be spent.

5. What is Michael’s saving goal?

After Eddie explains the family’s monthly expenses to Michael, Michael plans the family’s budget for the month. He believes that his cuts to the family budget will result in a sav-ing of $555.

Eddie Woo with Michael Maker, his father Gabriel Maker and brother John Maker

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6. What decisions does Michael make about his family’s budget? Do you think his decisions are sensible? Give reasons.

What do Michael’s father and brother think about his deci-sions to reduce spending on food and entertainment? Now that he is Teenage Boss, Michael is in charge of grocery

shopping. His plan is to reduce spending on groceries from $1000 to $750. On his first shop, he hopes to not spend over $200.

7. Does Michael’s grocery shopping go to plan? What does he learn?

Rate Michael’s grocery shopping on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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From top: Michael Maker; Eddie Woo

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Money saved: $

What has Michael learnt during his time as Teenage Boss?

How does Michael plan to spend the money that he has saved from the family budget?

Rate Michael as a Teenage Boss on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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Do you think Michael will make more sensible decisions about spending and saving in the future? Why or why not?

9. Watch

the Budget Reveal.

Above: Eddie Woo with Michael Maker

Are his father and brother happy with his purchases?

Michael can’t resist going shopping. He spends money on a shirt, board shorts, shoes and more coffee pods but can’t be bothered to track his spending. After two weeks of reck-less spending, Michael has no idea how much money is left. When his father tells him that he has to pay a $648 fine, Michael is forced to take being the boss seriously.

8. What advice does Eddie give Michael about getting his budget back on track?

What are the outcomes of this conversation?

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From top: Eddie Woo with Christabel O’Neill, her mother Andrea and two sisters, Catarina (13) and Klarisa (11); Eddie Woo with Christabel O’Neill

EPISODE 7

ChristabelChristabel admits that she often argues with her mother about money. While music is the biggest thing in Christabel’s life, her mother has to find the money to pay for the tickets to the never ending list of concerts that Christabel wants to attend and the concert merchandise that she just has to have.

Age:

Family members:

1. List the items that Christabel likes to spend her money on.

2. What does Christabel’s mother think about her spending habits?

3. What does Christabel dream of spending money on?

4. Do Christabel’s siblings think that she will be a good Teenage Boss?

Christabel’s family spend $2115 a month. Her first thought when she sees the briefcase of money is concert tickets! If there is any money left at the end of the month, Christabel can decide how this money will be spent.

5. What is Christabel’s saving goal?

After Eddie explains the family’s monthly expenses to Christabel, she plans the family’s budget for the month. She believes that her cuts to the family budget will result in a sav-ing of $670.

6. What decisions does Christabel make about her family’s budget? Do you think her decisions are sensible? Give reasons.

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Eddie Woo with Christabel O’Neill, her mother Andrea and two sisters, Catarina (13) and Klarisa (11)

7. What does Christabel’s mother think about her decisions to reduce spending on groceries and to decrease her sister Cat’s pocket money? What does Cat think about having less to spend each month?

Now that she is Teenage Boss, Christabel is in charge of gro-cery shopping. Her plan is to spend $600 rather than $840 on groceries for the month. She hopes to spend less than $160 on her first visit to the supermarket.

8. Does Christabel’s grocery shopping go to plan? What does she learn?

Rate Christabel’s grocery shopping on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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Are her family happy with her purchases?

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10. Watch

the Budget Reveal.

From top: Christabel O’Neill; Eddie Woo with Christabel O’Neill

Money saved: $

What has Christabel learnt during her time as Teenage Boss?

What has Christabel’s family learnt about their spending habits?

How does Christabel plan to spend the money that she has saved from the family budget?

Were you surprised by her decision?

Rate Christabel as a Teenage Boss on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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Christabel does not budget for any unexpected expenses. Before her week as Teenage Boss has really started, Christabel has to find money for a vet bill of $62.66. She splurges $90 on concert merchandise. Then there is her mothers’ request for $285 to pay for the car to be serviced.

9. Where does Christabel find the money to pay for these unexpected expenses?

Christabel asks Eddie for advice about how to manage the budget. What are the outcomes of this conversation?

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EPISODE 8

DimityWhen it comes to clothes, makeup and accessories, Dimity has expensive taste and not enough pocket money.

Age:

Family members:

1. List the items that Dimity likes to spend her money on.

2. What do Dimity’s parents think about her spending habits?

3. What does Dimity dream of spending money on?

4. Do Dimity’s siblings think that she will be a good Teenage Boss?

Dimity’s family spend $5397 a month. When Dimity learns that she is going to be in charge of spending such a large sum of the money, she is ‘super excited’ about the opportunity to control the family’s finances. If there is any money left at the end of the month, Dimity can decide how this money will be spent.

5. What is Dimity’s saving goal?

After Eddie explains the family’s monthly expenses to Dimity, Dimity plans the family’s budget for the month. She believes that her cuts to the family budget will result in a saving of $1360.

Eddie Woo with Dimity Xenos

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From top: xxx

6. What decisions does Dimity make about her family’s budget? Do you think her decisions are sensible? Give reasons.

What do Dimity’s family think about her decisions to reduce spending, especially the distribution of pocket money?

Now that she is Teenage Boss, Dimity is in charge of grocery shopping. Her plan is to spend a lot less on food.

7. Does Dimity’s grocery shopping go to plan? What does she learn?

Rate Dimity’s grocery shopping on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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Are her family happy with her purchases?

Frlom top: Dimity Xenos; Eddie Woo with Dimity Xenos

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10. Watch

the Budget Reveal.

Left: Eddie Woo with Dimity Xenos

Money saved: $

What has Dimity learnt during her time as Teenage Boss?

What has Dimity’s family learnt about their spending habits?

How does Dimity plan to spend the money that she has saved from the family budget?

Rate Dimity as a Teenage Boss on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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8. Dimity decides that she can save money by reducing the family’s use of electricity and gas. What do her family think of this decision and the rules about the use of these services? Are they prepared to change their behaviour?

9. When Dimity learns that her family is spending $445 on phones and pay TV every month, she investigates. What is the outcome of Dimity’s investigation?

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From top: Eddie Woo with Harry Lodge; Eddie Woo with Harry Lodge

EPISODE 9

HarryHarry wants a new video camera but the models that he is interested in are out of his price range. With a price tag of $2000, Harry will have to save for a long time before he can afford to upgrade his technology.

Age:

Family members:

1. List the items that Harry likes to spend his money on.

2. What do Harry’s parents think about his spending habits?

3. What does Harry dream of spending his money on?

4. Does Harry’s sister think that he will be a good Teenage Boss?

Harry’s family spend $3071 a month. He understands that managing this sum of money is a big responsibility. If there is any money left at the end of the month, Harry can decide how this money will be spent.

5. What is Harry’s saving goal?

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From top: Harry Lodge, mother Kerry, father Greg and sister Ella Lodge; Harry Lodge

After Eddie explains the family’s monthly expenses to Harry, Harry plans the family’s budget for the month. He believes that his cuts to the family budget will result in a saving of $130.

6. What decisions does Harry make about his family’s budget? Do you think his decisions are sensible? Give reasons.

What do Harry’s parents and sister think about his decisions to reduce spending, especially on pocket money?

Now that he is Teenage Boss, Harry is in charge of grocery shopping. His plan is to reduce the grocery bill by $100. He has also decided to spend less on eating out and takeaway food.

7. Does Harry’s grocery shopping go to plan? What does he learn?

Rate Harry’s grocery shopping on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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10. Watch

the Budget Reveal.

Money saved: $

What has Harry learnt during his time as Teenage Boss?

What have Harry’s parents and sister learnt about their spend-ing habits?

How does Harry plan to spend the money that he has saved from the family budget?

Rate Harry as a Teenage Boss on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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Left: Eddie Woo with Harry Lodge, mother Kerry, father Greg and sister Ella Lodge

Are his family happy with his purchases?

8. Harry’s mother continues to go shopping without consulting Harry. Unable to control her spending, he seeks Eddie’s advice. What are the outcomes of this conversation?

9. Every year, Harry’s family attend River Days, a local festival. He has not included the event in his budget. How does Harry cope with this unexpected expense? Are Harry’s decisions fair?

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From top: Eddie Woo with Mikayla Hannel and father; Mikayla with friend Claudia

EPISODE 10

MikaylaOne of Mikayla’s life goals is to travel. She wants to save money so that she can go to Paris with her friends when she is older but whenever Mikayla has money it never lasts long. Mikayla needs to learn how to manage money if her dream is to come true.

Age:

Family members:

1. List the items that Mikayla likes to spend her money on.

2. What do Mikayla’s parents think about her spending habits?

3. What does Mikayla like to spend money on?

4. Do Mikayla’s siblings think that she will be a good Teenage Boss?

Mikayla’s family spend $4850 a month. When Eddie explains the family’s monthly expenses and that Mikayla has the freedom to do what she wants, Mikayla decides to make some radical changes. If there is any money left at the end of the month, Mikayla can decide how this money will be spent.

5. What is Mikayla’s saving goal?

After Eddie explains the family’s monthly expenses to Mikayla, Mikayla plans the family’s budget for the month. She believes that her cuts to the family budget will result in a sav-ing of $200.

6. What decisions does Mikayla make about her family’s budget? Do you think her decisions are sensible? Give reasons.

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What do Mikayla’s parents and siblings think about her deci-sions to reduce spending on home maintenance and petrol?

What do they think about her decision to increase spending on eating out and takeaway meals, as well as clothes and shoes?

Now that she is Teenage Boss, Mikayla is in charge of gro-cery shopping. Her plan is to spend approximately $300 on her first shop.

7. Does Mikayla’s grocery shopping go to plan? What does she learn?

Rate Mikayla’s grocery shopping on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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Are her family happy with her purchases?

Mikayla Hannel and her family

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10. Watch

the Budget Reveal.

Money saved: $

What has Mikayla learnt during her time as Teenage Boss?

What has Mikayla’s family learnt about their spending habits?

How does Mikayla plan to spend the money that she has saved from the family budget?

Rate Mikayla as a Teenage Boss on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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Left: Mikayla Hannel

Despite her good intentions, Mikayla is tempted to spend money.

8. Like Mikayla. Do you think you would be tempted to treat yourself if you were in charge of the family budget? Why or why not?

Before things get completely out of hand, Mikayla checks the budget and decides that it is time to control her spend-ing. She is confident that she can maintain her saving goal but then her mother asks her to pay for some unexpected expenses.

9. Despite the cost, why does Mikayla think the money spent on the weekend trip to the Blue Mountains is worth the expense?

The trip to the Blue Mountains costs $600. Imogen asks Eddie for advice about how to get the budget back on track. What is the outcome of this conversation?

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EPISODE 11

NickNick is good at saving money. His bank balance is proof of his sound financial literacy skills. While Nick is very responsible with his own money, he is very good at spending his parents’ money.

Age:

Family members:

1. List the items that Nick likes to spend his money on.

2. What do Nick’s parents think about his spending habits?

3. What does Nick dream of spending money on?

4. Do Nick’s parents and sister think that he will be a good Teenage Boss?

Nick’s family spend $3520 a month. When Eddie tells him how much money he will be responsible for, he is surprised, then nervous. One of his first decisions as the boss is to take his family out for dinner. If there is any money left at the end of the month, Nick can decide how this money will be spent.

5. What is Nick’s saving goal?

After Eddie explains the family’s monthly expenses to Nick, Nick plans the family’s budget for the month. He believes that his cuts to the family budget will result in a saving of $150.

Eddie Woo with mum Kerry, sister Zoe and dad Andrew

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From top: Nick Atkinson; Eddie Woo with mum Kerry, sister Zoe and dad Andrew

6. What decisions does Nick make about his family’s budg-et? Do you think his decisions are sensible? Give reasons.

What do Nick’s parents think about his decisions to reduce spending?

Now that he is Teenage Boss, Nick is in charge of grocery shopping. His plan is to spend a lot less than his parents do on the weekly shop.

7. Does Nick’s grocery shopping go to plan? What does he learn?

Rate Nick’s grocery shopping on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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Are his family happy with his purchases?

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the Budget Reveal.

Left: Nick Atkinson

Money saved: $

What has Nick learnt during his time as Teenage Boss?

What has Nick’s family learnt about their spending habits?

How does Nick plan to spend the money that he has saved from the family budget?

Rate Nick as a Teenage Boss on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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Nick’s father needs Nick to pay for his trip to Noosa to see a concert. This is an expense that Nick has not included in his budget. He asks Eddie for help.

8. What advice does Eddie give Nick about unexpected expenses?

When Nick’s mother goes shopping and overspends on makeup, Nick has to think of some creative solutions to pro-tect his savings. Then he has to buy the supplies for his sister Zoe’s birthday party.

9. Is Zoe’s birthday party a success?

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EPISODE 12

ElinyaElinya admits that she only has a vague idea about how much money her family spends a month. As for her own money, some of her earnings from her part time job are used to pay off the new car that her parents bought on her behalf. The rest of what she earns funds her shopping sprees.

Age:

Family members:

1. List the items that Elinya likes to spend her money on.

2. What do Elinya’s parents think about her spending habits?

3. What does Elinya dream of spending money on?

4. Do Elinya’s parents think that she will be a good Teenage Boss?

Elinya’s family spend $3303 a month. She is surprised to learn that her mother expects her to add her own income to the family budget for the month that she is Teenage Boss. If there is any money left at the end of the month, Elinya can decide how this money will be spent.

5. What is Elinya’s saving goal?

After Eddie explains the family’s monthly expenses to Elinya, she plans the family’s budget for the month. She believes that her cuts to the family budget will result in a saving of $429. In addition, Elinya plans to add $480 of her own income to this amount.

6. What decisions does Elinya make about her family’s budget? Do you think her decisions are sensible? Give reasons.

What do Elinya’s parents think about her decisions to reduce spending? Why?

Eddie Woo with Mikayla Hannel and father, Gavin

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Now that she is Teenage Boss, Elinya is in charge of grocery shopping. Her plan is to decrease monthly spending on gro-ceries by $200.

7. Does Elinya’s grocery shopping go to plan? What does she learn?

Rate Elinya’s grocery shopping on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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Are her parents happy with her purchases? What does Missy the dog think of Elinya’s changes to her regular dog food?

Despite knowing the details of the budget, Elinya’s mother goes op shopping and can’t resist the bargain of a $15 blender.

8. What does Elinya think of her mother’s bargain?

9. What other unexpected expenses does Elinya have to pay for? Where does she find the money to cover these additional costs? What other creative solutions does she implement to avoid spending money?

10. Watch

the Budget Reveal.

Money saved: $

What has Elinya learnt during her time as Teenage Boss?

What have Elinya’s parents learnt about their spending habits?

How does Elinya plan to spend the money that she has saved from the family budget?

Rate Elinya as a Teenage Boss on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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Eddie Woo with Elinya Chenery

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From top: Ula Venckus and Eddie Woo; Ula Venckus

EPISODE 13

UlaUla wants to become a professional recording artist. She dreams of making albums but for now is content recording songs in her home studio. When Ula isn’t singing, she is shopping.

Age:

Family members:

1. List the items that Ula likes to spend her money on.

Ula likes online shopping, even though she can’t actually afford to purchase all of the items she puts in her shopping cart. Like Ula, do you like the idea of online shopping? Why? Have you ever purchased anything online? Describe your online shopping experience.

2. What do Ula’s parents think about her spending habits?

3. What does Ula dream of spending her money on?

4. Do Ula’s parents think that she will be a good Teenage Boss?

Ula’s family spend $2560 a month. While she is keen to be the boss of her family’s money, she admits that for the first week she probably won’t know what she is doing. If there is any money left at the end of the month, Ula can decide how this money will be spent.

5. What is Ula’s saving goal?

After Eddie explains the family’s monthly expenses to Ula, she plans the family’s budget for the month. She believes that her cuts to the family budget will result in a saving of $245.

6. What decisions does Ula make about her family’s budget? Do you think her decisions are sensible? Give reasons.

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What do Ula’s parents think about her decisions to reduce spending, especially on food?

Now that she is Teenage Boss, Ula is in charge of grocery shopping. Her plan is to spend approximately $250 on gro-ceries for the week.

7. Does Ula’s grocery shopping go to plan? What does she learn?

Rate Ula’s grocery shopping on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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Are her family happy with her purchases?

Ula Venckus with mother Lana

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the Budget Reveal.

Money saved: $

What has Ula learnt during her time as Teenage Boss?

What have Ula’s parents learnt about their spending habits?

How does Ula plan to spend the money that she has saved from the family budget?

Rate Ula as a Teenage Boss on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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From top: Ula Venckus; Ula Venckus on Skype with Eddie Woo

One of Ula’s ways of saving money is to buy less processed and pre-prepared meals. While she is an inexperienced cook, she is keen to make her favourite dishes.

8. Are Ula’s home cooked meals a success?

Could your family save money by cooking and eating in rather than having takeaway or eating out?

9. List the unexpected expenses that Ula has to find the money to pay for. How does she manage to cover these costs?

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EPISODE 14

MitchellMitchell loves maths and even spends his money on maths books and puzzles. Meeting Eddie Woo is according to Mitchell one of life’s ‘inspirational moments’. One day, Mitchell hopes to teach other people about the beauty of mathematics.

Age:

Family members:

1. List the items that Mitchell likes to spend his money on.

2. What does Mitchell’s mother think about his spending habits?

3. What does Mitchell dream of spending money on?

4. Does Mitchell’s brother think that he will be a good Teenage Boss?

Mitchell’s family spend $3689 a month. He thinks being the boss will be one of the hardest things that he has ever done. For Mitchell, the prospect of getting an equation wrong is nerve wracking but he is willing to take on the challenge. If there is any money left at the end of the month, Mitchell can decide how this money will be spent.

5. What is Mitchell’s saving goal?

Eddie Woo with Mitchell Kwan, mother Sharon and brother Koby

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After Eddie explains the family’s monthly expenses to Mitchell, he plans the family’s budget for the month. He be-lieves that his cuts to the family budget will result in a saving of $228.

6. What decisions does Mitchell make about his family’s budget? Do you think his decisions are sensible? Give reasons.

What do Mitchell’s mother and brother think about his deci-sions to reduce spending, especially the slashing of the grocery bill by $300?

Mitchell uses a spread sheet to track daily expenses. What is a spread sheet? What are the advantages of using a spread sheet to budget?

Now that he is Teenage Boss, Mitchell is in charge of grocery shopping. His plan is to spend under $125 on his first shop.

7. Does Mitchell’s grocery shopping go to plan? What does he learn?

Rate Mitchell’s grocery shopping on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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Are his mother and brother happy with his purchases?

Mitchell Kwan

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the Budget Reveal.

Money saved: $

What has Mitchell learnt during his time as Teenage Boss?

What have Mitchell’s mother and brother learnt about their spending habits?

How does Mitchell plan to spend the money that he has saved from the family budget?

Rate Mitchell as a Teenage Boss on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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Left: Eddie Woo with Mitchell Kwan and brother Koby

Mitchell takes to the kitchen to cook dinner. Home cooked meals are part of his plan to keep on top of the family’s expenses.

8. Are Mitchell’s home cooked meals a success?

9. What Mitchell hasn’t budgeted for are unexpected ex-penses. Make a list of the unexpected expenses.

What advice does Eddie give Mitchell about unexpected expenses? Is Mitchell able to follow Eddie’s advice?

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EPISODE 15

HayleyHayley’s love of horses comes with a huge price tag. She has recently started a business which involves rescuing and rehabilitating horses. Her first rescue horse is Cinnamon. The plan is to rehabilitate Cinnamon and then find her a ‘forever’ home. Hayley works at her parents’ bakery. Her earnings are used to finance her business.

Age:

Family members:

1. List the items that Hayley likes to spend her money on.

2. What do Hayley’s parents think about her spending habits?

3. What does Hayley dream of spending money on?

4. Do Hayley’s parents and brother think that she will be a good Teenage Boss?

Hayley’s family spend $2940 a month. For Hayley, the prospect of managing her family’s budget for a month is initially overwhelming but she is confident that she can change the family’s finances for the better. Her plan is to minimise all spending. If there is any money left at the end of the month, Hayley can decide how this money will be spent.

5. What is Hayley’s saving goal?

After Eddie explains the family’s monthly expenses to Hayley, she plans the family’s budget for the month. He believes that his cuts to the family budget will result in a saving of $850.

Eddie Woo with Hayley Leggett and her brother Blake, father Adrian and

mother Tracey

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6. What decisions does Hayley make about her family’s budget? Do you think her decisions are sensible? Give reasons.

What do Hayley’s parents and brother think about her deci-sions to reduce spending on everything?

Now that he is Teenage Boss, Hayley is in charge of grocery shopping. Her plan is to spend less on groceries than usual and to invest more time in home cooked meals.

7. Does Hayley’s grocery shopping go to plan? What does she learn?

Rate Hayley’s grocery shopping on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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Are her family happy with her purchases?

8. Hayley’s family spend a lot of money on entertainment. Are Hayley’s cost cutting initiatives successful?

Above: Eddie Woo and Hayley Leggett

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Money saved: $

What has Hayley learnt during her time as Teenage Boss?

What have Hayley’s parents and brother learnt about their spending habits?

How does Hayley plan to spend the money that she has saved from the family budget?

Rate Hayley as a Teenage Boss on a scale from 1 to 10. 1 is the lowest score and 10 is the highest score. Give a reason for your rating.

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From top: Hayley Leggett; Hayley Leggett

9. Make a list of all of the unexpected expenses that Hayley has to pay for, including her own shopping sprees.

What advice does Eddie give Hayley about covering these costs? What is the outcome of their conversation?

10. Watch

the Budget Reveal.

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Teenage Boss Pros Cons Rank

Byron

Christabel

Dimity

Elinya

Ellenor

Harry

Hayley

Imogen

Michael

Mikayla

Mitchell

Nick

Susan

Ula

Vasanth

With great power, comes great responsibility. Which teenager do you think was the most responsible Teenage Boss? Before you make your decision, think about the pros and cons of each Teenage Boss. Consult the scores that you gave each Teenage Boss when you watched the series. When you have finished completing the chart, rank the Teenage Bosses from 1 to 15. 1 is the highest rank and 15 is the lowest rank.

Which Teenage Boss was the best?

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tasksTrack your spending

Do you ever wonder where your money goes? What are the advantages of track-ing your spending? Have you ever tried to track your spending? Did you succeed? What did you learn? Did tracking your spending change your behaviour?

Your task is to track your spending for a month.

1. Begin by identifying your income for a month. Do you ever have any money left over at the end of a month?

2. Think about what you spent your money on last month. Make a list. Next to each item on the list, put an N or a W to indicate whether the item was something you needed or something you wanted.

3. Use your list to determine categories of spending.4. Sometimes it is easier to spend less, if you have a

goal. Set a savings goal for the month. Make sure that it is a SMART goal.

5. Keep a record of your spending using a Google Sheet.

6. At the end of the month, make a pie chart that shows your spending percentages for each category.

7. Write an evaluation of your spending for the month. Identify whether or not you achieved your savings goal. Identify what changes you intend to make to a. your income, b. your spending and c. your sav-ing in the following month.

8. Spend time as a class discussing the experience of tracking spending and whether or not students think they will continue to track their spending.

The Great Debate: Pocket Money

WHAT IS POCKET MONEY? DO YOU RECEIVE POCKET MONEY? HOW MUCH POCKET MONEY DO YOU RECEIVE? WHO DECIDED THAT YOU WOULD RECEIVE THIS AMOUNT OF MONEY? WHO GIVES YOU YOUR POCKET MONEY? HOW DO YOU EARN YOUR POCKET MONEY? DO YOU EVER RECEIVE LESS POCKET MONEY THAN YOU SHOULD? DO YOU EVER EARN MORE POCKET MONEY THAN YOU SHOULD?

HOLD A CLASS LINE DEBATE ABOUT POCKET MONEY.

TOPIC: THAT CHILDREN AND ADOLESCENTS SHOULD BE GIVEN POCKET MONEY.

DIVIDE THE CLASS INTO AN AFFIRMATIVE AND NEGATIVE TEAM. EACH TEAM MEMBER NEEDS TO PRESENT A ONE-MINUTE SPEECH THAT SUPPORTS THE TEAM’S CASE.

Clockwise top leftL: Christabel

O’Neill; Susan Sogora with the money; Vasanth

Kumaralingam; Michael

Maker; Bryon Kay with

mother Anna Kay

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What are your savings goals?

All of the Teenage Bosses have a short term savings goal and some of the Teenage Bosses have medium and long term savings goals.

- Short term savings goals: 0 – 3 months - Medium term savings goals: 3 – 12 months - Long term savings goals: 12+ months

Spend time as a class discussing the Teenage Bosses’ savings goals. Did any of the Teenage Bosses’ goals match your own short, medium and long term goals?

Savings goals should be SMART goals:SpecificMeasurableAttainableRealisticTime-bound

• What are your short, medium and long term savings goals? Make a financial goals document. Write a SMART financial goals statement.

Did you enjoy watching Teenage Boss?

• Eddie Woo thinks that the project was an authentic learning experience for the teenagers who got to be boss. Do you agree? Share your opinion with the class.

• Write a short review of Teenage Boss and post it on-line at http://www.abc.net.au/btn/story/s4859928.htm.

• If the production company decided to make another series of Teenage Boss, would you like to be the boss? Why or why not?

Plan a birthday celebration (on a budget)

Some of the Teenage Bosses have to cover the costs of a family member’s birthday party. This requires the Teenage Bosses to plan, budget and shop for the birthday celebration.

Your task is to plan your next birthday celebration, including the budget. Present your plans and proposed budget as a Google Slides or PowerPoint presentation.

How much do you want to spend? In making your decision, think about your family’s income and what would be an appropriate amount of money. You might also like to try to spend as little as possible in planning your celebration – just to prove that you can have an excellent celebration without spending a lot of money.

The no spend challenge

CAN YOU GO A DAY WITHOUT SPENDING ANY MONEY? CAN YOU GO A WEEK WITHOUT SPENDING ANY MONEY? CAN YOU GO A MONTH WITHOUT SPENDING ANY MONEY? WHY NOT TRY? PLUS, YOU ARE NOT ALLOWED TO ASK ANYONE FOR MONEY OR ASK ANYONE ELSE TO SPEND MONEY ON YOU. USE GOOGLE SHEETS TO DOCUMENT YOUR NO SPEND CHALLENGE EXPERIENCE. AT THE END OF THE CHALLENGE, COUNT YOUR SAVINGS! IF IT’S TOO HARD NOT TO SPEND ANY MONEY, THEN TRY A $2 A DAY CHALLENGE.

From top: Eddie

Woo with Mikayla

Hannel and father, Gavin;

Bryon Kay with Eddie

Woo

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This study guide was produced by ATOM. (© ATOM 2018) ISBN: 978-1-76061-194-1 editor@atom.org.au

To download other study guides, plus thousands of articles on Film as Text, Screen Literacy, Multiliteracy and Media Studies, visit <http://theeducationshop.com.au>.

Join ATOM’s email broadcast list for invitations to free screenings, conferences, seminars, etc. Sign up now at <http://www.metromagazine.com.au/email_list/>.

Recommended linksASIC’s MoneySmart: Financial Literacy in Australian Schoolshttps://www.moneysmart.gov.au/teach-

ing/financial-literacy-research/financial-literacy-in-australian-schools

ASIC’s MoneySmart: How to do a budgethttps://www.moneysmart.gov.au/managing-your-money/

budgeting/how-to-do-a-budgetASIC’s MoneySmart: Savinghttps://www.moneysmart.gov.au/managing-your-money/savingAustralian Banking Association: Financial Literacy Programhttps://www.ausbanking.org.au/Consumers/Financial-LiteracyAustralian Government National Financial Literacy Strategyhttp://www.financialliteracy.gov.au/media/546585/report-403_

national-financial-literacy-strategy-2014-17.pdfNational Consumer and Financial Literacy Framework

http://www.curriculum.edu.au/verve/_resources/National_Consumer_Financial_Literacy_Framework_FINAL.pdf

OECD/INFE Core Competencies Framework on Financial Literacy for Youth

https://www.oecd.org/finance/Core-Competencies-Framework-Youth.pdf

OECD INFE Guidelines on Financial Education in Schoolshttp://www.oecd.org/daf/fin/financial-education/2012%20

Schools%20Guidelines.pdfPISA 2012 Financial Literacy Assessment Frameworkhttp://www.oecd.org/pisa/pisaproducts/46962580.pdfPISA 2015: Financial literacy in Australiahttps://www.moneysmart.gov.au/media/560520/pisa2015_fi-

nancialliteracyreport.pdf

McAvoy Media

Founded in September 2014, McAvoy Media is an independ-ent television production company based in Sydney. Led by CEO John McAvoy, one of Australia’s leading and award-winning television producers, McAvoy Media has secured a reputation as a trusted production partner and a passionate producer of Australian content. Employing a team of both dedicated and experienced content makers, McAvoy Media’s slate represents a diverse range of factual entertainment, reality and observational documentary programming for both Australian free-to-air and PAY TV channels. With a focus on the constant development of exciting and innovative new TV concepts, McAvoy Media is committed to telling great stories, unearthing compelling characters and continuing to create and produce content that will engage audiences worldwide.http://www.mcavoymedia.com.au/

Credits

Host: Eddie WooSupervising Producer & Head of Development: Simon SteelExecutive Producers: John McAvoy & Matt Tomaszewski

Endnotes

1 OECD INFE (2011) Measuring Financial Literacy: Core Questionnaire in Measuring Financial Literacy: Questionnaire and Guidance Notes for conducting an Internationally Comparable Survey of Financial literacy. Paris: OECD.

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