It was heartbreaking to read the news of Alexander E. Kearns’s suicide, and to know that he felt he had to take his life because he got into debts of $730,000. What made this worse, was that subsequent revelations indicated that he wasn’t necessarily truly in debt of $730,000, and that could have been a temporary balance before settlement.
I couldn’t help but wonder if...Read More
As our children grow into teenagers, they desire more independence. Some start looking for part-time work as a way to expand their income. This is a great opportunity for parents to coach and guide children into how to earn money more effectively.
1) Getting A Job
Most of us earn income by getting a job. From young, children may have learnt to exchange effort for money by being paid to...Read More
Teaching kids about money is challenging. We often learn how to teach the value of money by observing our parents, through collective wisdom on social media and having conversations with our children when opportunities arise. This means that children do not get a holistic and complete view about how to manage money. Their learning is limited by what they are exposed to. After talking to...Read More
It’s been 6 months since we got ourselves present in Perth, Western Australia. So far, it’s been a steep learning curve for me as I got myself acquainted with the culture here, and tried to figure out how to set up a business in all sense and aspects. Australia is very different to Singapore, and as I like to say, I probably learnt more in the past 6 months what didn’t work...Read More
Growing up doesn’t feel easy. In the midst of #adulting, we realise we have opinions and preferences that we do want to express and be heard. These may require us to find ways to get along with others such that we can manoeuvre through this world with the support of people we value, while not becoming people pleasers.
Managing others especially our peers is an art. It’s...Read More
Ever wondered why the adults look like they know better? For starters, they do have the benefit of experience that is gained through living a longer time. That experience provides knowledge, reducing the fear of the unknown in decision making. Having also lived through failure, adults also know that failure in a particular situation is not the end of the world.
When we...Read More
In our earlier article, we explored how a habit loop can be formed, and the impact it might have on our lives.
As William James, a famous psychologist, once said:
All our life, so far as it has definite form, is but a mass of habits
Achieving financial well-being is thus also about mastering our habits so that the good ones remain to make our lives more efficient while the bad ones are...Read More
As I read Charles Duhigg’s “The Power of Habit“, an “OH” moment occurred to me. Most of the actions I perform each day were not a product of my decision-making but a habit. Habits developed through choices that I make intentionally at the beginning, and then at some point as the brain looks for ways to save effort, becomes auto-pilot.
Duhigg puts it this way:...Read More
In my last week’s article, I wrote about what skills were necessary to survive in life. Looking back, I am not 100% certain that having the knowledge or being educated on these skills are sufficient. After all, it’s one thing to be book-smart, and another to be street-smart.
When I was in my mid 20s, I had friends asking me what they should do with their money....Read More