With the easy availability of credit and the pressure to take on long term contracts for things like Satellite Television, Mobile Phones and Tablets, understanding the implications of these items on a weekly budget can be quite difficult.
MoneyManger.ipl is a free, MS Windows based, computer program that can be used with children and young adults to practice budgeting.
Put simply you get paid once a week, you then spend this money on food, rent etc. If you do just this, then you will be able to save some money and then buy cars, holidays etc. However you can apply for a credit card or loans for cars and holidays and pretty soon you will be in debt!
Ideally you should run the simulation for at least 53 weeks, because things like the TV licence will expire, bills for power will appear, car insurance will need renewing and the interest on loans will start to add up.
To try it you need to download
the program and then read the Guides