"Introvert Talks" is meant to be a new initiative or theme, where I myself as an introvert, just talk about reflections and thoughts about my life, or maybe share more personal stuff. :)
This is my weekly post under this "Introvert Talks" theme and let's see where it takes me and us.
Let's jump straight into today's topic/reflection!
So recently, I came across a video/reel on one of the mainstream social media platforms. The person talked about the importance of having savings, or simply, money. And he is of the view that the amount of money we have can change our lives - not so much about buying big houses or big cars or branded bags, but it allows us to have more choices in our life.
He used an example of someone working in a toxic work environment. So he said:
- If this person didn't have any savings or having loans to repay, he might have no choice but to tolerate this lousy job until he finds another new job opportunity.
- But if this person had 50k or 100k savings (I wasn't sure what currency he was referring to though, but maybe let's assume it's USD for this purpose), he might consider quitting for the sake of his mental well being. After all, these rainy day funds could help him tide over a few months or a decent period of time while he finds another new job. But if he has a wife and kids to take care, and is the sole breadwinnner, then it would be a little tricky.
- You can see where this is going.. And finally, if this person had something like 500k or 1 million savings, he knows that this foundation of savings would allow him to comfortably walk away from this toxic work environment and not worry about his or his family's living expenses.
Ultimately, some people might earn the same amount as their peers, but because they are less thrifty or they have a "YOLO" mindset, they might end up saving less. While there is no right or wrong to one's lifestyle and spending habits, when a person finds himself in the above situation, the one with the savings will be able to make the "better" choice because he is able to.
The video went on to further reiterate the importance of savings/having enough money, by citing examples such as hospital bills and kids' education, where one with a good amount of savings would be to better handle these potential big expenses items in our lives.
Sometimes, it's a taboo subject because there are always the usual sayings about how "money cannot buy happiness", or someone who forever chases for wealth is "money-faced" will never be contented, etc. But, putting aside our judgment, there are really tangible benefits of having a decent amount of savings which gives some form of financial security. The peace of mind at times can be priceless. When your loved one falls sick, you know you can afford to nurse them back to health because you have set aside sufficient funds. When you get retrenched, you know your family can continue to live as normally as possible because the savings can put to good use. Money is not always about vacations and branded goods.
So it made me reflect a little on my "relationship" with money. Is it a healthy one? Is it meant to save/protect me from these potential negative events in life? And does it empower me to made choices that I prefer rather than having to shortchanging myself in tricky situations? I think these thoughts will always evolve constantly at different stages of my life but for now, maybe I could be a little more obsessed about money, knowing that it is possible to have a healthy "relationship" with money actually.
That's all I have this week! Thanks for reading! If you have any thoughts, feel free to comment below too!