Saturday, November 22, 2014

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. 


  1. I actually think parents do their children a disservice if they buy expensive branded bags and even cars for them. It removes the element of hard work and makes the child complacent. It also makes them used to the good life and luxury and therefore they will be unable to cope with challenges which come their way in future.

    1. Hi MW,

      Yes I fully agree. Complacent is the word. Their attitude in life becomes quite bad too. Coming to work just to flirt with girls is what happened. Lol

  2. Hi Young

    You are right.

    If she is spending her own money, then the definition of right and wrong is blurred. Who is to say that one can't spend her own money that sh has worked hard for.

    People may condemn the act of doing it but I think they need to balance out their thoughts. After all its her own life and decision we are talking.

    If the story is about robbing her own mother money to buy branded bags then its easier to decide.

  3. nowadays youngsters learn to spend even before they learn how to earn and save, the future doesn't look good for them

    1. Hi Felix,

      Its the lifestyle now. Very few are taught the value of money when they are young.

  4. Hi SGYI & Young,

    Thanks for sharing. Indeed, we cannot judge people right and wrong with their lavish lifestyle. But over time, they will find that their lifestyle becomes harder to maintain.

    1. Hi SRSI,

      We can only hope they see the spending as unnecessary. Some people only realise it when they are much older. By that time it may already be too late.