Paying Your Own Way

Two teenagers learn how to budget when living on their own A programme for use in the classroom with students. Follow 18 year old Jo and his 16 year old brother Tom as they set up home on their own for the first time and learn some useful financial lessons.

They have an average income for people their age and try to stay within budget as they make lifestyle decisions based on what they can and can’t afford. The boys start by looking at what they need to have and discover some surprising truths about the cost of essentials. Next they make a wish-list of things that would be nice to have and shop around to see what’s within their budget. They learn some useful lessons about interest rates, credit and debt, and decide to save up for items on their list. Finally they consider obtaining a luxury item and wonder if they will ever be able to afford a large flat-screen TV. The boys decide to start a savings plan rather than being tempted to go into debt.

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