facebookWhat advice would u give to someone who comes from a lower income family background than one who comes from more affluent background towards achieving financial goals? - Seedly

Advertisement

Anonymous

13 May 2019

Events

What advice would u give to someone who comes from a lower income family background than one who comes from more affluent background towards achieving financial goals?

Discussion (3)

What are your thoughts?

I hear you, coming from a lower income family background myself.

I found that it helped me - because when you have had days where parents are constantly arguing because there is no money/you need to pay for your own tertiary education yourself etc, it makes you more driven to want to do better for yourself.

Additionally, I was in a school where there were many children from elite families, and I could see for myself first-hand how the wealthy live. Everything from exhorbitant trips, to flying overseas just to get a haircut from a famous hairstylist in Europe, to purchasing the latest Hermes collection.

Here's my advice, coming from a place like that myself:

  1. Screw ' keeping up with the Joneses' - unfortunately I have seen many friends who choose to pay branded bags with their first paycheck (as a way to reward themselves). Somehow some succumb to the pressure, and feel compelled to keep up with a lifestyle where they have branded clothes/shoes, and dine at cafes that cost $20-30 each time you're there for a meal. The pressure would be even more immense if your social circle is filled with high income kids who have not gone through the hardships of being without money.
  1. Know your goals. My goal when I entered university was to save x amount of money by 20xx, to be able to take my parents on a holiday and to buy free-hold property by a certain age. With that goal in mind, I then tweaked what I had to do to get there.
Loo Cheng Chuan

Loo Cheng Chuan

05 Mar 2019

Founder at 1M65 Movement

I came from a not so well to do income family. Father was a sole breadwinner of a family of 5, who was a primary school teacher. Sickly Mother my whole life.

Use it as a motivation factor that drive you to become rich. Work really hard... take up two to three jobs, educate yourself fervently. Be thrifty and invest wisely. You can do what I did.

Gabriel Tham

Gabriel Tham

02 Mar 2019

Tag Team Member at Kenichi Tag Team

You have an advantage.

You know what it feels like to be poor. Those from affluent families do no...

Read 1 other comments with a Seedly account

You will also enjoy exclusive benefits and get access to members only features.

Sign up or login with an email here

Write your thoughts

Advertisement