Big Big Waste of Money: Spending vs. Wasting: Know The Difference. Brought to you by

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1 Big Big Waste of Money: Spending vs. Wasting: Know The Difference Brought to you by

2 This Activity Answers the Question... PAGE 2 how can I avoid WaSTIng Money? The Big Big WasTe of Money music video demonstrates how easy it is to waste money in our daily lives. Peer pressure, pop culture influence, and advertising all have a powerful impact on children. The effects can be negative not only in the way they view themselves, but in the way they spend money. The music video explores three common scenarios that lead to wasteful spending: 1) buying before trying, 2) changing oneself to be popular, and 3) being easily misled by advertising. By analysing the process of how and why spending mistakes are made, children can avoid wasting money. Why is this important? Many studies have shown that people buy on emotion rather than logic. This leads to impulse shopping, and spending money on items that are neither necessary nor useful. We see this behaviour in adults all the time e.g. buying brand-name products instead of shopping for value, not trying before buying, and not returning items that don t fit. Children mimic adults, and as parents, it is our responsibility to be positive role models and help our children examine the forces that guide purchasing decisions. Once they become aware of spending mistakes, they are more likely to avoid them, allowing them to save money and achieve what they truly want in life. Money doesn t come back once it s gone!

3 Music video: Big Big Waste of Money PAGE 3 JusTin sees some cool jeans in a shop window. He falls in love with them and immediately buys himself two pairs. However, when he eventually wears them for the first time, they drop down to his ankles. Prudence decides to take some horse riding lessons and buys a course of ten lessons on the spot. Unfortunately after only one class, she finds that she is allergic to horses and cannot go near them without breaking out in a rash and sneezing uncontrollably. They both realise they should try before they buy. Zul walks into a pharmacy and sees a model s cool blond hair on a box of hair dye. However when he dyes his own hair with it, it looks really scary not at all like the model on the box. Charity buys a brand of perfume because the model she sees in the ad is so beautiful, but when she sprays the perfume on herself, it smells awful! They both discover that they don t need to change themselves to be popular. Bobby is hungry and sees a poster for a big juicy burger in the window of a burger joint. He buys a burger straight away, but when he unwraps it, it turns out to be tiny and unappetising nothing like the burger in the poster. Pepper sees a beautiful pair of shoes in a magazine ad, and she buys them even though they don t fit. When she first wears them, she gets terrible blisters on her feet. They both learn they should not be fooled by the ads they see.

4 Do-Together Activity PAGE 4 Activity Supplies: Pencil/Paper & Calculator Discuss Create Review Start this activity by watching the music video. Then ask the questions and discuss with your child(ren): What does it mean to waste money? Have you ever wasted money? If so, how, and on what? What does it mean to waste money that you have earned / saved? Is wasting money a way to Earn, Save, Spend, or Donate? What are possible ways to spend without wasting money? Using the Big Big Waste of Money Worksheet (See Page 5), note down a recent purchase where you think you may have wasted money. Cite one example for each listed scenario: 1. Buying before trying 2. Changing yourself to be popular 3. Being misled by advertising Draw the item that you purchased and list out the following details: When did you buy it? Why did you buy it? Were you influenced by peers, idols or ads? How much did you spend? Did you use the item at least once? What can you do with this item now? Now if you were given a second chance, what would you do? Would you still buy this item? If not, would you consider buying another item instead of the one you bought? How much money would you save? Now answer the following questions together: Is spending money the same as wasting money? Is wasting money good or bad? Why? What kind of habits can you develop to avoid wasting money? By not wasting money, how will you benefit? What can you do with purchases that you no longer need?

5 Big Big Waste of Money Worksheet Draw items you have purchased (one example each) and answer the questions here. PAGE 5 BuyIng Before TryIng changing yourself To Be popular BeIng MISleD By advertising

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