It is only when I'm approaching my "mid-life crisis" that I realise the importance of financial education. I do not know whether is it just me alone that I'm not taught the importance of financial management when young. When I talk about financial management, I do not mean by save save save in bank then just leave there to accumulate, what I mean is by saving, investing, insurance etc. I find it funny that Singaporeans are often complaining "Money not enough" yet we are not taught the core topics of cash management.
That is when I ponder why Financial Planning is not incorporated as one of the compulsory subjects in Secondary Schools. I'm sure a lot of us especially guys have momentary splurges, e.g. let's say around 2 years ago the "in thing" is Playstation 2, then all of us will take up holiday jobs etc to finance the purchase. Thus, for someone to have more than $5000
they save themselves in their bank is a miracle among my school mates.
There is still a tinge of regret when i think back the days when I should have invested even in fixed deposit ;P
Anyway I will make sure I will emphasize this point to my kids next time so that they are able to focus on enjoying their lives more, instead of having to crack their head s every time the ways to earn more income etc.