21 October 2013

Money Management Concept of 70s, 80s, 90s

When come to money matters, different generations have their own thinking. Before reading on, please listen to your heart deep down inside, what is your thinking? Hahaaa.... Bingo? Let's see...

70s: Saving

Generally, this generation not only hardworking in job, but also hardworking in saving. They usually save their money in banks or placed it in fixed deposit, cultivating a very good saving habit. Pre-retirement: Wealth Accumulation and investing in their children's education. Post-retirement: Wealth Enjoyment and depending the financial support from children. That's a great trade off (at least for that generation)!!!

80s: Self-Sustainable

Due to higher inflation, this materials emphasis generation feeling the pinch of not enough money every month. Credit card, car loan, housing loan, insurance premium... !!! No wonder many of them financially critical when come to month ends. Parents for 80s will be more than happy, if their 80s children doesn't need their financial support anymore. God bless!

90s: Consuming
For them, money is meant to be spent. In other words, this would be a great loss to them if they don't enjoy life now. Very often, they learnt how to spend first before saving money. Anyway, parents were their ATM (Automatic Tomorrow's Money), continuing financial support for their beloved children. Hence, financial management and saving concept for 90s usually is poorer.

So, is this true?

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