No longer updating

It's a shame, but I'm no longer updating this website. Busy setting up new ventures.

I'll leave it up for anyone who's interested.

Thanks to all regular readers, and all the best for the future.

Cheers, PJ

Youth money thoughts

Anyone can learn about money.

Anyone can help anyone else learn.

Making mistakes doesn't mean you're hopeless.

Managing money is a lot about relationships & understanding other people.

Good financial education is not about turning people into more savvy consumers.

Good financial education starts with young people's interests and builds on their strengths.

Making commitments and setting targets

Having a vague desire to achieve a goal is one thing. Setting it as a firm commitment and announcing it publicly is another—and makes it far more likely to be achieved. Studies suggest that commitments are more likely to be met if there is a cost of failure such as a damage to reputation. Successfully meeting a target can increase positive self-image and give young people a sense of achievement

There are no limits to the potential goals young people could set in relation to money management. They do not have to be large-ticket savings targets. In fact, small scale, short-term, achievable goals are much better than longer-term, more challenging ones. A young person could commit to write down all personal spending for a week, or to avoid going to a particular shop for a week, or to visit a bank and pick up some leaflets before the end of the month. Making the commitment public, and getting public praise for achieving it, can be a powerful boost to a young person’s self-determination and confidence.