Planning ahead [Guest Post]

This is a short guest post by Young. He has written a few other posts for my blog previously.  

Recently, there was an article in the papers regarding how young Singaporeans were frivolously spending on designer handbags. Read the article here.

It appears that many netizens were quick to condemn and I can definitely understand why given their estimated monthly pay mentioned in the article. (SGYI: The salary was just a mid four figure salary)

Who’s right? Who’s wrong? Is there even a right or wrong in the first place? I think not. There is no right or wrong. Some of the individuals quoted in the article state that they don’t feel pain spending the money and neither do they save up to fund these purchases.

Should we criticize these people? I think everyone has their own opinions but at the end of the day; the bottom line is that so long as one is able to justify his or her actions, it is entirely prerogative to do what they wish to.

Of course, one can never go wrong with saving what they can and I definitely stand by that going forward. Maybe youths aren't interested in learning to invest; but the act of saving itself, is definitely commendable at least to me.

I hope you enjoyed reading my brief post and have a great weekend!

In Summary, I feel that at the end of the day, one should know better what is best for oneself. Do not be overly tempted by decadent, opulent or frivolous lifestyles. Money out will always be easier than money in.

My thoughts: 

Many young people now grow up in more well to do families. Recently I have a friend who got a brand new BMW from his father. He knows his family is rich so he also spends most of his own money and don't find the need to plan ahead or save up for his future. Many of us may envy people who are born in rich families or envy people who get to live luxuriously but life gets boring without challenges. 

We don't have to envy the lives of others. The value of money is lost when we spend recklessly. One day we'll wake up and realise how ridiculous are the items we bought when we finally realise the need to plan ahead.