A woman worries about her poor student, Pete, who is saving up all his money to buy a burro. She doesn't think this is a sensible purchase to make when he has so many other things he needs. One day Pete shows up to school looking heartbroken. His teacher learns that the old man, Mr. Meyers, who was selling the burro got tired of waiting and planned to sell it to someone else. That afternoon, the teacher talks to Mr. Meyers about his childhood. In the end, Mr. Meyers sells the burro to Pete, and Pete's family invites Mr. Meyers over for Christmas.