ROSEMARY ABBOTT | Culture
INTO THE UNKNOWN
Hannah Spratt has often been top of her class in fifth form economics at Diocesan School for Girls.
However the 16 year-old, who attends the private Auckland girls school at $26,335 a year, was caught off guard when her economics teacher introduced the concept of a ‘household budget’.
“Excuse me Mrs Johnson. I didn’t quite understand. What do you mean by “household budget?” she asked curiously, having never had to worry about such a thing in her parents’ $2m house in Epsom.
Bewildered by the question, Mrs Johnson attempted to explain the concept in a different way.
“Miss Spratt, a household budget is a way to manage your expenses and ensure you don’t spend more than you earn.”
“But how could you end up spending more than you earn?” Spratt responded, not understanding that most people in this country are finding it harder and harder to make ends meet.
“Hannah, it’s crucial for most families to allocate their funds wisely. A budget for most Kiwi families helps them understand where their money goes so they can make better decisions with their spending.
“Things like making sure there’s enough money for the basic necessities and other costs such as public transport.”
Looking even more confused Hannah unleashed a flurry of follow up questions.
“What do you mean by ‘basic necessities’? And ‘public’ transport? Huh?”