Ward becomes a bit jealous when Wally and Beaver begin spending time playing basketball at Willie Dennison's house after Willie's dad put up a backboard and a basket. This prompts Ward to do the same thing but it just seems like things are working against him being the perfect father.

Wally begins to outgrow his "sloppy" faze and becomes much neater. This is noticed by Ward and June who try to encourage Beaver to undergo the same transformation. However, Beaver changing like that just seems too extraordinary of a task.

Wally goes away on a trip with the Boy Scout troop that he belongs to, leaving a lonesome Beaver behind. Finding his friends to be busy, Beaver takes up other means to make the time go by.

Ward tries to teach Wally and Beaver the importance of saving by giving them a piggy bank. The boys quickly save up a handful of change and are all ready to spend it on some baseball equipment. However, unknown to their parents, they change their minds and decide to spend the money on a most unselfish gift.

After Ward's bragging about Wally and Beaver being responsible, Herb and Janet Wilson assume that it would be all right to leave their 4-year old daughter in Wally and Beaver's care while they go out to a party with Ward and June. Trouble begins when the youngster locks herself in the bathroom.

Wally and Beaver want to get brand new bike and they ask Ward for some money. He suggests that they earn the money. This leads Wally and Beaver to get a job delivering papers. Later, while trying to help the boys out, Ward and June inadvertently almost get Wally and Beaver fired.

The local bully, Lumpy Rutherford, has been picking on Beaver and Wally. Thanks to a story Ward tells them, the boys decide to play a joke on Lumpy. However, their ploy catches the wrong person. Lumpy's father and Ward's co-worker Fred Rutherford, is caught in the trap.

Beaver is invited to Linda Dennison's birthday party and quickly discovers that he is the only boy that she invited. Fearing for his reputation, Beaver tries his best to get out of attending, but June and Ward are insistent, not aware of the situation Beaver's in.

After taking an IQ test, Beaver scores the highest in his class and Mrs. Rayburn suggests that it would be best if Beaver went to a special school where his abilities can be challenged. However, little does anyone know that everything is not as it seems.

June and Ward make Wally and Beaver promise that they won't go to the movies and see a scary movie. However, Wally and Beaver are talked into seeing it, thanks to Wally's so-called best friend, Eddie Haskell. The movie has quite an influence on Beaver, who makes a voodoo doll, names it Eddie Haskell, and sticks it with pins.

Wally and Beaver want to win a fancy film projector. In order to get it they have to sell 24 bottles of perfume. However, the appalling aroma of the perfume quickly leads to zero sales and has Ward trying to think up a sales gimmick.

When June goes on a trip to visit her sister, Peggy, June's Aunt Martha steps in and stays with Ward and the boys. Ward and the boys do their best not to hurt Martha's feelings, but Beaver has the hardest time when she buys him a suit, knee socks, a cap, and short pants and makes him wear the outfit to school.

Wally and Beaver dread attending dance school, so when suddenly Wally takes a liking in it, June and Ward are dumbfounded. It seems Wally has developed a crush on a girl named Penny and Beaver soon feels neglected and left out when Wally begins spending all his time with her.

Wally and his friends build a clubhouse and Beaver wants to join. Although the dues are $1 for 8th graders, Beaver has to come up with $3 in order to join their club. How can Beaver earn the money?

When his class discovers that he has a crush on Miss Canfield, Beaver is coerced into putting a snake in her desk in order to scare her. However, after putting the snake inside of Miss Canfield's desk, Beaver has an attack of conscience and goes out of his way to keep Miss Canfield from finding it.

Feeling left out when Ward helps Wally earn some money for a new uniform for the baseball team, Beaver decides to earn some money too, by selling water to everyone in their neighborhood after the city turns the water off to do some work on the pipes.

Tiring of Wally and the Beaver's constant arguing, June makes them sign a friendship pact and spend a lot more time together. Things work well for a while, until their friends invite them to separate things on an upcoming Saturday. Then the boys try to find a way to trick Ward and June into thinking they spent the day together.

June sends the Beaver over to the new neighbors with some flowers to welcome them to the neighborhood. When he is given a kiss on the check by Mrs. Donaldson for the bouquet, sneaky Eddie Haskell makes Beaver scared that her husband is a jealous man and is going to pay Beaver a visit when he least expects it.

When Beaver loses his lunch money more times that Ward cares to count, he lectures Beaver about the importance of responsible money management. At first it seems that the Beaver takes Ward's word to heart, but when he accidentally loses his money for a haircut, he frantically turns to Wally for help. However, Wally accidentally scalps Beaver when he gives him a free haircut, resulting in the boys having a hard time keeping it from Ward and June.

When Beaver comes home from school with a black eye, Wally helps him conceal it with some of their mother's makeup. However, it doesn't take Ward long to discover what happened and is disappointed at Beaver apparently running away from a fight. However, when he discovers who gave Beaver his black eye, he comes to regret giving Beaver the advice of confronting the guilty party.

After seeing an advertisement in a comic book, Wally and Beaver decide to send away to Florida for an alligator, in order to keep it in their bathtub. However, when Ward and June discover what the boys have done, they make the boys donate it to a local alligator expert's animal park.

When Beaver's new teacher, Miss Canfield, sends a note home to his parents, he expects the worst. As a result, he decides to run away from home.

Wally and Beaver's desire to get a new bike causes them to fall prey to sneaky Frankie Bennett, he tells the brothers that the local dairy farm is holding a contest: the first person to bring in a thousand milk bottle caps will win a bicycle. However, when they go and collect their prize, they learn of Frankie's lie, and as a result, Ward takes pity on the boys and decides to buy them their own bicycle.