Sunday times - undergrad concept of $

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Sunday times - undergrad concept of $

Postby MMM » Wed Oct 29, 2008 9:19 am

Hi,

Did anyone read the article on sunday times where the undergrad is unfazed by the economic situation. Don't understand why her classmates need to take on part time jobs and also she intends to spend her 1st payroll (s) on a 4k chanel bag. As a parent, what is your view on that?

MMM
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Postby mintcc » Wed Oct 29, 2008 9:51 am

oh yes, very sad. What's happening to young people now adays? Hopefully she is the minority.

Keep my fingers cross that my kid will not turn out like that.

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Postby tinkfirst » Wed Oct 29, 2008 11:15 am

I always believe in instilling good values to our kids. Be they moral or monetary spending. Young minds are easily influenced by materialistic gains, esp what their frds have. However, my family, we do buy toys for my kids, but only on important occasions, like Christmas, Birthdays. Now, as we are facing recession, we don't know when any of us will lose our jobs & need to think abt our survivals, let alone buy luxury things?

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Postby sunflower » Wed Oct 29, 2008 12:32 pm

I haven’t read the Sunday papers but I think this student must be born with a silver spoon and does not know the hardship of earning money. If not, her parents must have indulged in her since young which resulted in her attitude now.

I guess a lot of children from China who because of the “one child” policy, become princes and princesses because the parents dote on them to the extend that the children are unaware of the sacrifices their parents made in order to satisfy their desire. It is very sad to see that such will be the next generation for the country.

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Postby MMM » Wed Oct 29, 2008 1:09 pm

Sunflower,

Just to share with you. This happened to a Sporean girl. She is 1st year undergrad. Mum is a tutor and father a bizman. They stay in a 4 room flat in marine parade area.

It's eye opening to read what she said. On the other hand, I hope my daughters will never be like that. I would be very ashamed to hear them "belittling friends who take on part time job as they had little $" as well as spending their 1st payroll on a 4k chanel bag. It would be a parent's nitemare. But maybe her parents think otherwise.

I feel that even if we can afford material stuff for the kids, the kids must be taught to count their blessings and there are unfortunate people out there who don't even have enough pocket $ to go to school. So they cannot be arrogant, ignorant and unsympathetic. Somehow I think the mother/ parents of this girl has failed in teaching values.

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Postby sunflower » Wed Oct 29, 2008 5:58 pm

Oh dear, this is indeed tragic. I do agree that the right values have not been instilled in the girl when she was young. Perhaps too much emphasis has been placed on achieving academic excellence and the aspects of character building may have been neglected. Or perhaps the parents themselves are materialistic and have created a bad influence on the girl?

Whatever it is, I think it’s important to inculcate the right values in our children while they are young and impressionistic, before they’re ultimately influenced by their peers/pop culture/advertisements etc, and we as parents have to set good examples ourselves.

On second thought, the girl may have such low self-esteem that she needs to have the 4k Chanel bag to feel good about herself! Actually, we need to be strong ourselves to withstand/oppose long standing opinions of this materialistic world.

Even the founder of the IKEA empire lives humbly, driving a small car. I think we as consumers are fooled by the advertisements/worldly views to slog ourselves in order to pay for such items. We are only paying to make the creators of such brands rich! … the same creators that created the illusions that possessing such superficial things are essential to make us feel important and powerful…
Last edited by sunflower on Thu Oct 30, 2008 2:15 pm, edited 1 time in total.

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Postby Irene66 » Thu Oct 30, 2008 11:50 am

Ya, I felt so sad for her parents when I read the article.

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Postby matrix0405 » Thu Oct 30, 2008 10:12 pm

its ok, undergrad shd be a bit kwai lan and think they can take over the world. If @ their age they already so worrisome (like parents) then life is too cruel to them. Their time to worry will come but not now.

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Postby sunflower » Mon Nov 03, 2008 1:40 pm

I remembered reading in the papers some time back that banks are considering dishing out credit cards to undergrads. With such naïve undergrads who are so oblivious to current world situations and living in their own world, no wonder banks are eyeing on them! If they get the credit cards, I think they’ll very soon run into debts…

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Postby ZacK » Mon Nov 03, 2008 11:00 pm

I forgot which day's New Paper article from last week... It was something to do with leaving inheritances for the next generation which I felt was very interesting.

It talked about why some extremely wealthy people are not leaving their legacy for their next generation. Andrew L Webber was one and Warren Buffet did indicate that he would be leaving his all to charity.

What I gathered from the article was:
- Kids born with a silver spoon already have a head start over their peers (in terms of education, perspectives from having travelled, connections with people they or their parents know etc) so they do not really need the huge legacy to turn them into bums.

Adam Khoo came from a relatively well to do family is ensured of books and food but if he wanted toys etc he had to work for it himself e.g do part time jobs and knowing the value of money when he was fairly young. (Not a fan of Adam's but he was featured as well)

I do not have a legacy to pass down to my son but even if I do... I wouldn't want to see him being a "Paris Hilton" number 2 :roll:

Oops this is in relation to kids doing part-time jobs to learn about the value of money even if the family does not need their financial support 8)

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