19-03-2012 10:01 am
Good habits should be cultivated in children at a tender age.Things like being polite to others,respecting the elderly,compassion for the less fortunate,the importance of saving
and the list can go on and on.
My daughter once asked me "Why is Uncle X richer than Uncle Y?"
I explained to her and gave her an example.
Both Uncle X and Y were earning RM10,000 a month (considered very comfortable in Malaysia) the only difference is Uncle X saves more than Uncle Y.
Uncle X spends RM4,000 and saves RM6,000 so RM6,000 x 12 months
=RM72,000 a year x 10 years = RM720,000
Uncle Y spends RM8,000 and saves RM2,000,so RM2,000 x 12 months
=RM24,000 a year x 10 years = RM240,000
The moral of the story is,start saving while you can and look forward to a comfortable life in your old age.