Times are changing and sometime we struggle to keep up. When I grew up my parents provided me with pocket money. Their aim was to introduce me to the financial world and to equip me with financial discipline. The process was simple I received money in hard currency and had to decide myself how I want to spend the cash. I had to make sure that I had to pace my expenditure to ensure that the money lasted until the next “pay check” or rather allowance.

For me at least it was a simple process. Budgeting did not really exist in my world. I was able to feel the volume and weight of the cash which gave me a pretty good idea of how fast my money flowed from my pocket. On occasions I did loose control of my expenditure and did spend money out of control. Most of the times when it happened I really felt bad about it. I hated that physically feeling of loss as the volume and weight of my money got less. The loss was real and tangible. Following such an event it made me think twice before I spend my “hard earned” cash. more…