In one of my earlier posts, I talked about the importance of building up a reserve to handle emergencies, as well as excess which we can place in our “Goose” Account for investment.    But pressure to spend exists everyday.  How do we manage it? I recalled in one of my “financial” lessons to my sons when they were aged 8 and 10, the first concept I taught them was “variable” and “fixed” expenses.  I gave them examples of what constituted “variable” expenses e.g. MacDonalds’ meals, spending on toys and “fixed” expenses e.g. school fees, home loan payment etc. I gave them the example of say, even the simple act of switching on a light. This involved a “fixed” expense (fixing of the lamp as a one-off expense) and “variable” expense (electricity costs, which vary according to our usage). Frankly, their ......