facebookEveryone seems obsessed with making money and becoming rich these days, how do you stop yourself from getting sucked into the materialism of it all? - Seedly
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Anonymous

Posted on 02 Aug 2020

Everyone seems obsessed with making money and becoming rich these days, how do you stop yourself from getting sucked into the materialism of it all?

Everyone talks about trying to earn more, investing to retire with enough money, and all these material aspects of life. The more I think about it, the more I feel like I am getting sucked into this black hole. Anyone else feel this way? And how should we approach it?

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10 answers

Discussion (10)

Ow Jie Liang

Ow Jie Liang

Level 10. Master

Posted on 14 Aug 2020

I feel that money should be a tool for you to use and you should own your possessions, and not let them own you. I feel that it is also important to have friends and a support network outside of money. If you have an interest group or a hobby that focuses on something else entirely, it could be beneficial. Otherwise, you could slow down on the grind and take up alternative activities like reading a book (e.g. a fiction book) or you could volunteer your time to contribute something to society. I hope this helps.

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Shania Loh

Shania Loh

Level 10. Master

Posted on 10 Aug 2020

Hi!

I understand where you're coming from! Especially in Singapore where everyone is a little too obsessed with making money and trying to buy the most expensive shoes or bags out there to impress people around them. Don't get confused with being materialistic and being rich, some people have spent far too much on branded goods that they are left with less money to their name.

However, it is ok to be obsessed with making money as some or even most people are aiming towards financial freedom, funding for long term goals, and even retirement planning so that they don't burden their children in the future and are self-sustainable.

Try to set your own financial goals! Do you have any short or long term goals in mind that require a hefty sum? (i.e car, house etc) What's your lifestyle like? How do you intend to set aside your money (i.e savings, spending, insurance, investments etc). These are some questions you may ask yourself to keep yourself on track and not too bothered by what other people are doing.

Also, surround yourself with friends who are encouraging and understanding of your current financial situation and goals so that you can encourage and motivate each other to stay on track! Lastly, read up more about things that you are unsure of when it comes to personal finance! It can be quite daunting and overwhelming but it will get better once you start. All the best! :) ​​​

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