Tuesday, May 16, 2006
MONEY, MONEY, MONEY
Jack Neo's record-smashing 'Money No Enough' was not just a stroke of luck but because it struck a resonance cord in so many of us!
Many have said 'Money is the root of all evil' - we can argue till the cows come home but I doubt we'll ever reach a conclusion that's acceptable to all.
We know that money can't buy us everything, yet so many of us are obsessed with filling our lives with material stuff - be it the latest season of fashion, electronic gadgets, the newest car model. We spend as much as we make each month...and even worse for some who'd spend beyond their means by way of credit/loans.
Have you ever asked yourself this- am I working just to pay the bills? Well if that's true to a large extent..then it's no wonder working feels more of a chore than an enjoyment or fulfilment.
If you think about it...even the latest fashion/electronic gadgets will go out of style or become obsolete sooner or later..and your 6-digit figure car gets all scratched and dented, costs a whole lot of money to maintain and will eventually depreciates till it becomes a worthless pile of metal. So what's left in the end is just our empty bank accounts and debts?
Of course, I'm not suggesting that we should all live like Ebenezer Scrooge and don't enjoy our money at all. But perhaps we can put some of our money to better use - such that the money will work for us rather than have us work so hard for it. Just by saving a few dollars a week and investing them slowly over time, taking advantage of the compounding effect of growth, will make us wealthy.
It's good that the Ministry of Education has introduced financial literacy in schools. During my time, education is about finding a good job..and having a good job will provide good source of income to fund expenses. Throughout my more than 16yrs in school (up till university), it was all about 'how to make money'...and NOT 'how to deal with the money'! As such, many of us don't know how to save money, invest it, or set up a budget nor do we realise the importance of doing so.
Sure we can live paycheck to paycheck, during good times, everything seems fine....but what if we are face with retrenchment or a major crisis such as an illness or disability? If we don't save now, what's going to happen when we retire? Do we still want to be working at MacDonald's even when we are in our 60s and 70s?
Perhaps owning fancy clothes, cars and houses can 'buy' some self-esteem and envy from others...but to me, having money set aside gives me a sense of empowerment and security that I value more than anything else in the world.
Many have said 'Money is the root of all evil' - we can argue till the cows come home but I doubt we'll ever reach a conclusion that's acceptable to all.
We know that money can't buy us everything, yet so many of us are obsessed with filling our lives with material stuff - be it the latest season of fashion, electronic gadgets, the newest car model. We spend as much as we make each month...and even worse for some who'd spend beyond their means by way of credit/loans.
Have you ever asked yourself this- am I working just to pay the bills? Well if that's true to a large extent..then it's no wonder working feels more of a chore than an enjoyment or fulfilment.
If you think about it...even the latest fashion/electronic gadgets will go out of style or become obsolete sooner or later..and your 6-digit figure car gets all scratched and dented, costs a whole lot of money to maintain and will eventually depreciates till it becomes a worthless pile of metal. So what's left in the end is just our empty bank accounts and debts?
Of course, I'm not suggesting that we should all live like Ebenezer Scrooge and don't enjoy our money at all. But perhaps we can put some of our money to better use - such that the money will work for us rather than have us work so hard for it. Just by saving a few dollars a week and investing them slowly over time, taking advantage of the compounding effect of growth, will make us wealthy.
It's good that the Ministry of Education has introduced financial literacy in schools. During my time, education is about finding a good job..and having a good job will provide good source of income to fund expenses. Throughout my more than 16yrs in school (up till university), it was all about 'how to make money'...and NOT 'how to deal with the money'! As such, many of us don't know how to save money, invest it, or set up a budget nor do we realise the importance of doing so.
Sure we can live paycheck to paycheck, during good times, everything seems fine....but what if we are face with retrenchment or a major crisis such as an illness or disability? If we don't save now, what's going to happen when we retire? Do we still want to be working at MacDonald's even when we are in our 60s and 70s?
Perhaps owning fancy clothes, cars and houses can 'buy' some self-esteem and envy from others...but to me, having money set aside gives me a sense of empowerment and security that I value more than anything else in the world.
