Money and Finance
So, I received this comment today. I understand where "Anonymous" is coming from, but at the same time this comment is worrying because I feel that many other teenagers and young adults are feeling the same way.
Firstly, having no money is never an excuse. For most teenagers, we get a daily/weekly/monthly allowance. Or we might even be working part time or full time to support ourselves. Yes, Singapore is an incredibly expensive country to live in, but there are many job opportunities out there.
(Just not managerial or high positions in the company, sadly...)
Those that are highly motivated, will find a way to balance school work and work life properly.
Opportunity cost. One of the biggest and major reason why most people prefer to plan later on in life. What I don't get is this. Why are you choosing to go on with life without a plan in mind? Ask the people around you what they plan to do with life and most of them will answer, Marriage, House, Family. That by itself is already a plan isn't it? I'm sure a little time can be set aside during the weekends to plan for your future.
Wedding? Sure. How much are you planning to save up for that? Is your boyfriend/girlfriend/fiancee willing to save together with you as a common goal?
Time and tide waits for no man. Not even Obama. I am considering doing a post soon on the average cost of a decent wedding. Of course, I am not planning to have a large -scale wedding especially in these uncertain times. Frankly, I couldn't give two hoots about what my relatives would think. A marriage is always and forever will be, about you and your partner alone. No one else. A small scale wedding, and a romantic honeymoon is what I aspire for. I'd much rather spend the money on my future wife than on entertaining people all night long. But that's just me.
Before I go, I leave you with this sentence.
"Can you afford NOT to plan for your future?"
Signing off,
Teenage Investor
- Does Having A Perfect Wedding Means Spending Thousands?
Recently, my blogpost was shared on The Real Singapore. Read post here: How Much Do You Need to Save For A Decent Wedding I took a peek at the comments, very very interesting comments too. They provided necessary insight into how our generation...
- My 10 Year Plan
I never expected myself to sit down one day and start thinking and setting expectations and goals for my 10 year plan. I guess, it's the sort of thing that happens to a person just as he is about to complete another chapter in his life. I don't...
- The Journey Of A Budding Investor; When Actions Speak Louder Than Words
As some readers may recall, I previously received an email from "Reader A" who wanted to begin investing. When I asked how did he find me, he replied and I quote word by word: "Currently, i am 18. Just last Saturday, i went to a wedding of my relative....
- How Much Do You Need To Save For A Decent Wedding In Singapore?
In my previous blogpost I talked about having a plan in mind as you begin planning and saving for the future. For my future, marriage is definitely one of the main points in my life. http://teenageinvesting.blogspot.sg/2014/09/is-having-no-money-really-reason-not-to.html...
- Why 90% Of Young Singaporeans Are Worried About Their Financial Future ; Singapore Is The Most Expensive Country To Live In
It's pretty simple. I refer to a post from The Real Singapore (TRS) http://therealsingapore.com/content/survey-90-young-singaporeans-are-worried-about-their-future-finances 90% of 1000+ youths is an alarming number of over 900+ teenagers and...
Money and Finance
Is Having No Money Really A Reason Not To Plan For Your Future?
So, I received this comment today. I understand where "Anonymous" is coming from, but at the same time this comment is worrying because I feel that many other teenagers and young adults are feeling the same way.
Firstly, having no money is never an excuse. For most teenagers, we get a daily/weekly/monthly allowance. Or we might even be working part time or full time to support ourselves. Yes, Singapore is an incredibly expensive country to live in, but there are many job opportunities out there.
(Just not managerial or high positions in the company, sadly...)
Those that are highly motivated, will find a way to balance school work and work life properly.
Opportunity cost. One of the biggest and major reason why most people prefer to plan later on in life. What I don't get is this. Why are you choosing to go on with life without a plan in mind? Ask the people around you what they plan to do with life and most of them will answer, Marriage, House, Family. That by itself is already a plan isn't it? I'm sure a little time can be set aside during the weekends to plan for your future.
Wedding? Sure. How much are you planning to save up for that? Is your boyfriend/girlfriend/fiancee willing to save together with you as a common goal?
Let's say you know that you want to save for your wedding. But prices are constantly boosted by inflation. Which means the amount you plan now, isn't going to be enough in the future...
Go with the flow then, do what I do. Plan as you go. Save as hard as you possibly can, invest a portion wisely and watch that money grow over time. When you're young, time is on your side. That is your BIGGEST opportunity cost of not planning. When you're older and wiser and begin planning, valuable time has already been wasted.
Before I go, I leave you with this sentence.
"Can you afford NOT to plan for your future?"
Signing off,
Teenage Investor
- Does Having A Perfect Wedding Means Spending Thousands?
Recently, my blogpost was shared on The Real Singapore. Read post here: How Much Do You Need to Save For A Decent Wedding I took a peek at the comments, very very interesting comments too. They provided necessary insight into how our generation...
- My 10 Year Plan
I never expected myself to sit down one day and start thinking and setting expectations and goals for my 10 year plan. I guess, it's the sort of thing that happens to a person just as he is about to complete another chapter in his life. I don't...
- The Journey Of A Budding Investor; When Actions Speak Louder Than Words
As some readers may recall, I previously received an email from "Reader A" who wanted to begin investing. When I asked how did he find me, he replied and I quote word by word: "Currently, i am 18. Just last Saturday, i went to a wedding of my relative....
- How Much Do You Need To Save For A Decent Wedding In Singapore?
In my previous blogpost I talked about having a plan in mind as you begin planning and saving for the future. For my future, marriage is definitely one of the main points in my life. http://teenageinvesting.blogspot.sg/2014/09/is-having-no-money-really-reason-not-to.html...
- Why 90% Of Young Singaporeans Are Worried About Their Financial Future ; Singapore Is The Most Expensive Country To Live In
It's pretty simple. I refer to a post from The Real Singapore (TRS) http://therealsingapore.com/content/survey-90-young-singaporeans-are-worried-about-their-future-finances 90% of 1000+ youths is an alarming number of over 900+ teenagers and...