Thursday, February 8, 2024


“To be rich is not how much you make, but how much you save”
- Ng Beng Heng (1917 – 1987)
Why Gen Z must learn to be PRUDENT
Being prudent involves knowing how to care and think for our future – a skill that needs to be practised early, from the time we are schooling. However, this skill becomes crucial when we start working. It determines our success or failure in career and life. Gen Z must pay attention to being prudent.
Nurtured early with prudent living, we create a savings culture and the ability to delay gratification. When we are just getting started, we make smart choices like making our own coffee instead of paying inflated prices at cafes. Buy a Bezza when we can afford a Myvi. We dress smart and simple instead of wearing designers’ brands. Choose practicality over the latest mobile phone models. Exercise at the park instead of paying gym fees. The extra money saved is used to further education and for self-development, as an emergency fund; and for investments to create wealth.
We are aware that to retire well we need to save 50% of our income starting from our first salary. So, when we are drawing a salary of RM4000, we live a lifestyle of one who earns RM2000. We are mature and have a long-term vision. This is only logical since income from our first 30 years of working is needed to sustain us during our 30 years of retirement.
We are also shrewd when using credit cards – we are transactors, not revolvers. We pay off the outstanding balance every month and so incur no interest charges. Revolvers tend to pay off only part of their monthly balance and incur heavy interest charges that snowballs. Many jump from one job to another in search of better salary just to pay off their credit card bills thus upsetting a well-thought-out career plan.
We who are prudent are concerned about investing in ourselves. We focus on life skills and professional development. We keep fit and healthy, sleep and eat right. We build confidence and steadiness. As a person who is self-assured, we do not need to spend to show off or buy expensive things to feel good.
However, it does not mean we live a miserly life. We nurture the skills to manage the wants of today while preparing for the needs of tomorrow. The wisdom to not hold on to our money till we are choked and not let it go until we are bare. It is no surprise that the common synonyms of the word ‘prudent’ are judicious, sage, sane, sapient, sensible, and wise. The ability to have or show sound judgement and exercise restraint guided by sound, practical wisdom, and discretion.
Let us be prudent.
Let us add value,
Have a Meaningful Chinese New Year.
Peace, anas.


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