Friday, 12 September 2014

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.

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


  1. Planning is important, as the saying goes : fail to plan is plan to fail! Having said that, I think it is even more important to enjoy TODAY (as future is in no-existence, yet).


    1. Hi Richard! I believe with a plan in mind, you can enjoy Today to the fullest!

  2. I share a similar view as what you had written in this post. The takeaway for me would be "Go with the flow, plan as you go." Loving this quote hahaha

    1. Hi Mat! Glad to see you share my view! All the best!

  3. Your guest posted that he/she would rather spend the time to earn more money than to plan. He/She will never know when enough is enough. That's how people burn themselves out and lose sight of what really matters.

    1. Hi Lizardo!
      Yes I agree that money is never enough for some people, not even when you have millions.

      Having a plan in mind, gives you the assurance that the effort you put in earning money is not wasted. Appreciate your insight! All the best!

  4. I totally agree PLANING is a must and we should not let down any opportunity that comes in the way.