• fabianlau

Essentially, know your essentials.

This will be a long debate over what is an essential to you and what is not. It boils down to the root of realizing our ‘must have’ and ‘good to have’. This basic line, however differs amongst people, especially if we are taking a perspective from a first world country, this line might be pretty high. Let’s take technology for instance. In the 70s, if you were to own a Big brother big handphone (大哥大), you are deemed to be doing big business and well to do. If you drives a Proton Saga in the 80s, oh baby… eyes will be on you. Game boy and pager then came in the 90s for families who have some spare cash for entertainment and convenience. Fast forward to today, a laptop or a tablet has become the basic essential for education. While in many undeveloped countries, getting basic footwear and shelter is still a struggle. What was an essential to you few months ago, will naturally become a luxury when you can afford two or three now. Can you afford anything if you could save up a few months for it? Absolutely can. And this is the danger. We constantly put ourselves in the feeling of deprive and fear of missing out #FOMO, it causes us to raise our benchmark and expectation.


The root of realizing our ‘must have’ and ‘good to have’.


The fact that most average Joe can afford almost anything, we have become a culture of wants, addicted to the rush of newness and popularity, we convinced ourselves that that’s the road to happiness if we could have what others have, do what others do and eat what others eat.

A recent online poll done to ask if Bubble Tea business is an essential service, 57% voted Yes! This almost conflicting views is worth pondering over. Take a moment and evaluate everything you already have. Chances are you may have far exceeded your basic essentials in almost every area. Who doesn't owns more than 1 pair of shoes? Having said that, it doesn’t mean we can’t enjoy our wants. Life is meant to be lived, not survive. The key is to adopt a good balance in all aspects of your life. A thoughtful purchase will help preserve your wallet’s depth and could last you a lifetime. Move away from the feeling of lack, because a grateful attitude and appreciation of what you have yields true happiness and peace.

#essential #needsandwants #financialmanagement #financialadvisory #savings #endowment #financialplanning

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