Creating Wealth, Preserving wealth

Many times i see people discussing how to make money.

They are busy doing double triple jobs to double triple their income.

Sales talk appear on FB status - MLM, online business adverts, making orders etc.

I commend hardworking people who love creating new wealth and be successful.  

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However, there is another side of the coin of the FB status, people spending wealth, sadly on the extreme, having a splurge of their good money.  Expensive handbags, latest gadgets, mega toys...the list goes on.

Preserving wealth is as important as creating wealth.

it takes equal effort, and results in equal success.  After all, a dollar saved is a dollar earned.

Many people especially young ones i see, love to buy things sooner than they need it.

Oh, the new iPad just came out, must get the latest smartphone as mine suddenly becomes outdated, searching for  house with many rooms for a small family because a 2-room house "sounds not enough".

Postponing purchases carries a better chance of preserving wealth.  You buy only when you really, really need it.  On contrary, buying in advance could turn out to be a total waste - wear & tear, out of fashion, price reduction, obsolescence.  Exception would be things that is so scarce , like land (if the price being offered is below the market that makes it a good catch), or things with limited offer eg. Coles supermarket sales that we can stock up beras or minyak at home or that cheap online flight tickets :)

Many people are willing to depart from wealth for the sake of "convenience" and extras. Without realising that creating the wealth to get that convenience involve so much INconvenience to oneself - big sacrifice to be away from family, stressful overtime, lonely meals, office politics, high BP level...We damage relationships to get THINGS. Other inconvenience are credit cards charges, worry on the outstanding amount and be in a never ending vicious cycle of hutang.

sedikit-sedikit, lama-lama jadi rumah
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Don't get me wrong.  I'm just worried how easy young people depart with their hard-earned money.

I am just saying that the wealth that we create is better channeled to create more wealth.  Some complain on how expensive it is to put a down payment for a property without realising the few hundreds that they 'waste' on consumables every month make thousands of dollars per annum.

Young people sometimes complain about low starting salaries.  Yet, some do spend crazily on weddings, gadgets and clothes.

Being a stay at home mom now, I learn that kids enjoy good games and it doesn't have to be expensive.

Kids don't know about expensive brands.  We teach them that. And who taught us? The brand makers themselves.

I learn that with little resources, we can make do. With more, waste is the tendency.

Children should not be spoiled with THINGS - the more we give them, the harder it will be to please them later as we have to outdo ourselves all the time.  Little things don't thrill them anymore.  

Children learn on how parents spend and not spend.

Just because our lives are good now, there's no guarantee of the future.

We do have to be financially ok, long after the working age...may be 20 years in unemployable age past the magical number 55?  kind of a long way to think about considering that our local cars last only 5 years (that's 3-4 kali tukar kereta may be), plus hospital costs, kids' tertiary education, etc...(jika umur panjang, insha Allah)

Whatever we save now, is for our own future.
Except if we spend towards sedekah & kebajikan, insha Allah, that goes a very long way.

Catalogues!
Creating demand...dari x perlu kepada perlu...huhu
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My take on this issue :  for sustainable yet enjoyable lifestyle especially in old age, we need to choose moderation, as advised by ar-Rasul s.a.w... and use those catalogues as alas kupas bawang :)