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.

Setting up feedback systems

You gotta have feedback.

A young person creates a budget. But how are they to know how their actual spending varies from it? If they are saving for something specific, how close to their goal are they getting? Do they have a sense of what their likely spending is for the month, or even week, ahead and how much they currently have to meet it? How does sudden unexpected spending alter their actions? Managing money requires regular, if not constant, feedback on how things are going. With it, behaviour can change.

Modern technology offers the opportunity for creative, timely feedback systems. Banks are increasingly offering text alerts when account balances reach certain levels, or as a weekly alert with account balance. Such feedback systems are particularly valuable when linked to commitments and targets.