I read a story on Quora Digest of how an ultra wealthy person allowed his family members to borrow his Amex card. They went to Aruba (an island in the Caribbean Sea) every month for holidays, staying in presidential suites each time, for 2 years. And this person dutifully paid his credit card bills without checking. His family chalked up a USD1 million bill. When he discovered this finally, he cut ties with his family and drew up a repayment plan, which he knew would not be fully repaid
That is the ultimate in lack of social conscience. It is unconscionable. It is bad enough when scammers con you, but to have family members behave in this deplorable fashion is heart breaking.
I also read a story of a retired widower, whose son told him “Dad, you are old and don’t need to dress well, and don’t need much money. Give me your money, as I need to dress to impress, and my expenses are high”. The old gentleman was wise enough to spend the money on himself, picking up a girlfriend along the way.
Live within your means
We are taught to live within our means. Unfortunately, there are people with insufficient means, or even with substantial means, who want to live in the lap of luxury beyond their means. They need to show others that they have arrived, even when they have not. Designer outfits, luxury homes and cars, may be the cause of huge credit card debts, overdrafts and loans.
I walk in the botanical gardens almost every day. I come across several well known multi millionaires. But they are dressed like ordinary folks. On the other hand, I have seen some young people who obviously spent a pretty penny on their sporting gear.
Good Buys
Even those who do not splurge on expensive lifestyles sometimes buy so many material things that they don’t need, and even forget the existence of, once bought. Their wardrobes and store rooms are filled to capacity with brand new goods, often bought on line because they are good bargains. Many of us are guilty of this, in varying degrees.
True Wealth
Wealth is not just having plenty of cash. Cash can disappear quickly, if one is unwise. Those who are financially savvy enough to make the big bucks often spend much time safeguarding their wealth or creating more wealth. They may not have the time to enjoy their wealth.
True wealth is when you have enough money, so that you have the ability and flexibility to live life on your own terms. You enjoy the money that you have, spending it on yourself, your loved ones, your friends, and donating to those in need. You have enough, you are happy. You work only because you want to, not because you have to. You don’t need to be super rich. You don’t bother to buy things you don’t need, even if you have the means to pay for them.
This is enjoyment, this is luxury. The luxury of having enough.
lingsinglin
Dr Ling Sing Lin is a medical doctor by training. She worked in MOH HQ for many years, in policy making and administrative positions, until her retirement.
