Flatting Expenses Focus

Curriculum Alignment

Learning Area: Social Sciences – Economics and Business Level: Year 9 (NZ Curriculum Level 5) Strands and Achievement Objectives:

• Economics: Understand how people manage financial resources to meet needs and wants (Achievement Objective: Understand how needs and wants influence financial decision-making)
• Key Competencies:
• Managing Self: Taking responsibility for learning and personal finances
• Relating to Others: Negotiating and considering others’ needs when flatting
• Thinking: Critically analysing needs vs wants and budgeting
• Financial Capability: As embedded in Social Sciences and Mathematics contexts

Learning Outcomes

By the end of this 70-minute session, students will be able to:

• Define “needs” and “wants” in the context of flatting and personal budgeting
• Identify typical expenses associated with flatting in New Zealand
• Categorise these expenses into needs or wants
• Create a simplified flatting budget worksheet
• Evaluate which “wants” could be reduced or removed to manage a flatting budget sustainably

Resources Required

• Whiteboard and markers
• Printed or digital Flatting Budget Worksheet template (includes columns for Expense, Estimated Cost, Need/Want, and Comments on reductions)
• Sample price guides (e.g., rent, utilities, groceries) typical to New Zealand regions (can be brief handouts or projected slides)
• Calculators or devices with spreadsheet software (optional)
• Budget scenario cards with common flatting situations (optional for differentiation or extension)

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Lesson Breakdown

1. Introduction and Engagement (10 minutes)

• Activator: Begin by asking students what ‘flatting’ means and if they know anyone who has experienced it.
• Discussion: Introduce the concept of financial responsibility as part of flatting – emphasising balancing income with expenses.
• Learning Objective Sharing: Tell students that today they will learn to differentiate between needs and wants by building a flatting budget.

2. Defining Needs vs Wants (10 minutes)

• Write the terms “Needs” and “Wants” on the board.
• Elicit definitions from students, then clarify:
• Needs: Essential items or services required for living (rent, food, utilities).
• Wants: Non-essential but desired items or services (streaming subscriptions, takeaways, new clothes).
• Show examples relevant to flatting life in NZ.
• Quick Q&A to reinforce understanding.

3. Exploring Typical Flatting Expenses (10 minutes)

• Present a list of typical flatting expenses on the board or slides:
• Rent, power, internet, groceries, transport, cleaning products, entertainment, phone, etc.
• Discuss how each might be considered a need or want.
• Encourage students to think about hidden costs or unexpected expenses.

4. Flatting Budget Worksheet Activity (25 minutes)

• Hand out the Flatting Budget Worksheet.
• Students work independently or in pairs to:

1. List typical flatting expenses and assign approximate NZ$ costs based on regionally relevant prices provided.
2. Categorise each expense as a need or want.
3. Reflect and write down which wants could be reduced or cut to balance a limited budget.

• Circulate and support students as they debate and decide categories and cost estimates.

5. Group Sharing and Discussion (10 minutes)

• Invite several students or pairs to share their most surprising or challenging categorisations.
• Facilitate discussion around:
• Variability of needs and wants between households.
• How reducing wants can help balance budgets without sacrificing essentials.
• The importance of prioritisation in real-life budgeting.

6. Wrap-up and Reflection (5 minutes)

• Recap the key learning points: needs vs wants, budgeting essentials, and money management in flatting.
• Quick reflection prompt: “What is one want you might cut to save money if you were flatting?”
• Link the activity back to the wider theme of responsible financial decision-making.

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Assessment and Feedback

• Formative assessment through observation of worksheet completion accuracy and participation during discussions.
• Review completed worksheets to assess students’ skill in identifying needs/wants and ability to make budgeting decisions.
• Provide oral or written feedback highlighting good budgeting choices and areas for improvement in classification.

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Extension Ideas

• Create a role play where students negotiate who pays for what bills while flatting.
• Introduce unexpected expenses and have students revise their budgets accordingly.
• Use spreadsheet software to track spending over months to represent fluctuating flatting costs.

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By linking this practical budgeting activity explicitly with key competencies and the Social Sciences achievement objectives for Year 9, students will develop essential financial literacy skills that support their transition toward independence in real-world contexts. This lesson actively fosters critical thinking and personal responsibility while respecting New Zealand’s unique living costs and social environment.