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It's good to talk to people. When you do, you learn more about the broader world and you'll realise perhaps your own problem is not so unique and is small compared to others. Everyone has a story to tell. After reflecting upon them and consolidating them, I'm all ready to blog about it.
This time, I heard about this young chap who is still in national service. The spending habit is quite horrendous actually, because he admitted that he spends around 90% of his pay. I don't know what's the NSF pay these days, perhaps $600? That's quite a good amount, if one plans something about it. The excuse for not saving now is that the pay is too little, so there's no point in saving small amounts like $50 or so.
So the conversation goes on and he was asked whether he would save if he starts earning a more healthier pay check - like $2000 or $3000? He said yes, maybe. Upon probing further, the 'maybe' is because he might be buying a car or a motorbike upon reaching that amount. In other words, if you're not saving when you're earning peanuts, you also won't save when you're earning big bucks. What will change when you earn more? Nothing, if you don't change yourself.
Is this representative of the younger generations? I've a feeling it is. Good for the economy, bad for themselves. Read more...[caption id="attachment_3220" align="alignright" width="150" caption="Photo by chanchan222"][/caption]
It's good to talk to people. When you do, you learn more about the broader world and you'll realise perhaps your own problem is not so unique and is small compared to others. Everyone has a story to tell. After reflecting upon them and consolidating them, I'm all ready to blog about it.
This time, I heard about this young chap who is still in national service. The spending habit is quite horrendous actually, because he admitted that he spends around 90% of his pay. I don't know what's the NSF pay these days, perhaps $600? That's quite a good amount, if one plans something about it. The excuse for not saving now is that the pay is too little, so there's no point in saving small amounts like $50 or so.
So the conversation goes on and he was asked whether he would save if he starts earning a more healthier pay check - like $2000 or $3000? He said yes, maybe. Upon probing further, the 'maybe' is because he might be buying a car or a motorbike upon reaching that amount. In other words, if you're not saving when you're earning peanuts, you also won't save when you're earning big bucks. What will change when you earn more? Nothing, if you don't change yourself.
Is this representative of the younger generations? I've a feeling it is. Good for the economy, bad for themselves. Read more...
[/caption]
It's good to talk to people. When you do, you learn more about the broader world and you'll realise perhaps your own problem is not so unique and is small compared to others. Everyone has a story to tell. After reflecting upon them and consolidating them, I'm all ready to blog about it.
This time, I heard about this young chap who is still in national service. The spending habit is quite horrendous actually, because he admitted that he spends around 90% of his pay. I don't know what's the NSF pay these days, perhaps $600? That's quite a good amount, if one plans something about it. The excuse for not saving now is that the pay is too little, so there's no point in saving small amounts like $50 or so.
So the conversation goes on and he was asked whether he would save if he starts earning a more healthier pay check - like $2000 or $3000? He said yes, maybe. Upon probing further, the 'maybe' is because he might be buying a car or a motorbike upon reaching that amount. In other words, if you're not saving when you're earning peanuts, you also won't save when you're earning big bucks. What will change when you earn more? Nothing, if you don't change yourself.
Is this representative of the younger generations? I've a feeling it is. Good for the economy, bad for themselves. Read more...
