Throughout my life, I’ve learned the price of things and related them to my resources and salary, deciding whether they're value for money. That doesn’t necessarily mean cheap, but whether I'm comfortable paying the price for something that may be essential or may be just a whim. My problem, and that of many others in my position, is that I haven’t kept abreast of rising prices.
My first wage packet was £20 a week and that was enough to live on in London. Sure, I had to be careful, but I could pay all my bills and have a bit to spare. As I progressed in my career, my salary increased, but so did my expenses. We tend to spend according to our income and some people spend to excess, but that wasn’t me. I wanted to save, but with a family to support, that was near impossible.
In later years, when I was earning a comfortable amount, my experiences from the past prevailed; I had savings but didn’t like spending them. I didn’t do without, but didn’t spend too much either, always aware that the future could change and I may need the money at some time. Now I’m retired and my income is enough, but still limited, so I don’t like to overspend.
The impression that I want to give is that my life experiences have determined the way I feel about money. For instance, having started on £20 a week, although that was a long time ago, I hesitate to spend £4 for a cup of coffee or £40 or more on a meal. I understand about inflation and salary increases to match it, but I also remember what I used to spend and can’t easily make the leap to today's prices.
The young have no concept of how it used to be. They earn a salary at today's rate and spend their income which may allow them to pay £40 in a restaurant without blinking. They won’t expect it to be much cheaper and would look at me in disbelief if I told them how it was when I was young. Indeed, I gave the same look when my parents told me the price of things when they were young. It was difficult to comprehend.
The world, though, has changed and will continue to do so. I'm now one of the older generation who has great memories, but am relatively slow to adapt to modern ideas, technology and prices. It won’t leave me behind, and I see many advantages in embracing it, but I struggle to keep up. The young could teach me a thing or two, starting with a fair price for a coffee or a meal out!