Daydreaming youngster Ned Flemkin smashes his piggybank to buy an exciting pet, but various costly distractions en route to the store leave him with only enough money for a newt...which is utterly unresponsive until Ned feeds him some Zippo Newt Food, and discovers he's created a fast-talking, morph-a-minute monster. / When Newton discovers that bashful Ned has a crush on the little girl down the street, he spares no effort - or embarrassment - to unite the pint-size Romeo and Juliet.

Ned is happily building his class float for the annual Friendship Day Parade...until over-protective Newton finds out about a "competing" float and turns Ned's Humble effort into the Death Star on wheels. / When Ned's tattletale cousin Renfrew visits and gets Ned in trouble, Newton sees a way to discredit him once and for all, by turning Renfrew into the Boy Who Cried Newt.

Ned's Mom throws out his rare Captain Ocelot action figure so he goes to the dump with Newton and searches through trash for it. / As Ned's Mom's birthday approaches, she admires a replica Sacrificial Peruvian Blood Alter Ring in a catalogue. 'A replica?' snorts Newton slapping an Indiana Jones hat and leather whip onto Ned...'we'll get her the real thing!'

Everyone knows the moon is made of cheese, so Ned and Newton convert the family station wagon into a spaceship to find out of Mars is made of tomato paste. / Ned wants to go to the school dance with Linda, but not wanting to be embarrassed by his poor technique, enlists master of all footwork Newton as his tutor.

Newton takes a simple 20-home paper route which Ned got in order to save up for a bike, and turns him into the Rupert Murdoch of Friendly Falls. / Ned is asked by his one love, Linda, to go to the circus. So he saves his money, but it's a disaster, un-scary lions, skinny elephants, seals that can't balance, etc. Newton goes backstage at half-time to do some serious pep-talking and give his owner his money's worth.

Sunday night, Ned wishes he could go back to Friday to enjoy the weekend over again. / Ned attends a Jamboree, where Newton notices that some other kids have more merit badges than his owner. Not if he can help it...