Steer kids away from materialistic culture early

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#1
The Straits Times
www.straitstimes.com
Published on Oct 21, 2012
Steer kids away from materialistic culture early


By Lee Wei Ling

It was an advertisement in this paper: a boy, probably five years old, grinning widely and holding a computer game controller. "I want a room full of video games and my very own TV," he says.

One friend told me that what the child was demanding was somewhat outdated. "The 'in' things now are iPhones and iPads," she said. "No more video games and TV."

But then, she knew what was "in". And she does give her children some of these "in" things - in moderation, she says, or as a reward for good academic performance. She says she never gives way when her children demand things from her without having earned them in some way.

I can understand that parents today who grew up poor are more than willing to give their children the luxuries that they themselves did not have. If they do so carefully, I don't think they will cause their children much harm.

What I worry about is when a boy who demands a room full of video games and his own TV set gets what he wants without having to earn them. His parents may be loving in acceding to his demands, but they obviously don't know how to guide him. If he gets all that he wants, he will think there is no limit to what he deserves - a most dangerous idea that will not help him when he grows up.

How do young children become so materialistic? Granted, they usually hanker after things. Their parents may think it is too early to teach them frugality, but it is never too early to teach children that kindness to others and helping those who need help is more important than getting a new toy.

By the time children get to secondary school, peer pressure can lead them astray. That is why it is important to instil values, a sense of right and wrong, from an early age.

If a child does not learn that all his wishes cannot be instantly granted, he will suffer in later life - beginning with national service in the case of males. He will treat every obstacle to his pleasure as a personal insult, and react to it angrily, perhaps even aggressively. Such behaviour will obviously not be welcomed in the military.

Those of us "older folk" who interact with adults below the age of 30 today have often found them less hard-working, less driven and more demanding of what they think is rightly theirs than we were at their age. I see this among some of the junior doctors, and the senior nurses see it among the junior nurses.

Perhaps every generation tends to think less of the one that comes next. Certainly, I recall my parents' generation saying similar things about mine. Still, the perception that many young adults of today are self-centred or narcissistic is shared by many older adults. I think it is an accurate assessment.

I have no children, but I will still be around when the spoilt children of today grow up to be spoilt adults of tomorrow. Will they willingly help support their parents and grandparents, the people who worked long and hard to bring Singapore from Third World to First? For that reason alone if nothing else, I hope parents and schools today will nurture less self-centred and more altruistic instincts among the young.

The advertisement I saw sold the idea that achieving a certain socio-economic status gives families the ability to give their children whatever they want - "a room full of video games and my very own TV". I disagree with that point of view.

We can be happy as long as we are moderate and contented with the simple things in life and do not hanker after luxuries. If our goal in life is to accumulate material pleasures, then we will forever try to earn more money, and there would be no limit to how much we want.

A recent OCBC survey suggested that Singaporeans are becoming less materialistic. Seventy per cent of those polled said happy families were more important to them than pursuing financial gain. Less than 12 per cent and 4 per cent, respectively, picked owning a luxury car and a country club membership as worthy life goals.

If the survey's findings are accurate, perhaps advertisers should stop selling greed. I doubt, though, that day will come any time soon.

The writer is director of the National Neuroscience Institute. Send your comments to suntimes@sph.com.sg
My Value Investing Blog: http://sgmusicwhiz.blogspot.com/
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#2
steer kids into VALUE Investing!! Big Grin
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR! 
4) In BULL, SELL-SELL-SELL! 
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#3
Steering your kids into something will most probably works only if you are steering yourself the same way daily. Kids are watching you all the time. There is no two ways about this.
WB:-

1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.

Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.

NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
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#4
First edition (1949) of "The Intelligent Investor" by Benjamin Graham has been around for more than 63 years.
But, generally speaking, traders still outnumber value investors.
So, I am not sure whether value investing can be taught.

But, it is not really surprising.
Newton's' Philosophiæ Naturalis Principia Mathematica has been around for more than 300 years and we still see drivers tailgating another car at 100km/h.
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#5
This article is written by LKY daughter... but i agreed with what she said!
The thing about karma, It always comes around and bite you when you least expected.
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#6
(21-10-2012, 06:40 PM)WolfT Wrote: This article is written by LKY daughter... but i agreed with what she said!

Yes! i agree too. But this reminds me why then his brother and associates want to pay themselves $$$millions. If this is not also materialistic, what is then?
To keep a team of leaders out of corruption is just an excuse. How much $$$ then is enough to pay for a team of leaders not to be corrupted? To me no limit is enough if one is corruptible in the first place.
Put it another way. If Tom is to be your leader, Tom declares he has to paid XXX$ or else no promise i won't be corrupted. What happens then?
"Seow liu"TongueBig Grin

How much then is not materialistic? For those who has everything then it easy not to be materialistic. You know you are lacking of nothing.
To tell the truth, i am still materialistic if not i won't be blogging here.
Ha! Ha!TongueBig Grin
WB:-

1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.

Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.

NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
Reply
#7
(21-10-2012, 08:55 PM)Temperament Wrote: To tell the truth, i am still materialistic if not i won't be blogging here.
Ha! Ha!TongueBig Grin

Ahhh.... True words, true words.
Applies to all of us in this forum. Big Grin

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#8
(21-10-2012, 10:08 PM)arthur Wrote:
(21-10-2012, 08:55 PM)Temperament Wrote: To tell the truth, i am still materialistic if not i won't be blogging here.
Ha! Ha!TongueBig Grin

Ahhh.... True words, true words.
Applies to all of us in this forum. Big Grin

The definition of 'materialistic', from an online dictionary,

believing that money and possessions are the most important aspect of your life

I doubt that all of us in this forum falls under this definition...Cool
Luck & Fortune Favours those who are Prepared & Decisive when Opportunity Knocks
------------ 知己知彼 ,百战不殆 ;不知彼 ,不知己 ,每战必殆 ------------
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#9
(21-10-2012, 10:22 PM)KopiKat Wrote:
(21-10-2012, 10:08 PM)arthur Wrote:
(21-10-2012, 08:55 PM)Temperament Wrote: To tell the truth, i am still materialistic if not i won't be blogging here.
Ha! Ha!TongueBig Grin

Ahhh.... True words, true words.
Applies to all of us in this forum. Big Grin

The definition of 'materialistic', from an online dictionary,

believing that money and possessions are the most important aspect of your life

I doubt that all of us in this forum falls under this definition...Cool

Money and possessions are important aspect of my life, but definitely not the MOST important. Tongue
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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#10
(21-10-2012, 10:33 PM)CityFarmer Wrote:
(21-10-2012, 10:22 PM)KopiKat Wrote:
(21-10-2012, 10:08 PM)arthur Wrote:
(21-10-2012, 08:55 PM)Temperament Wrote: To tell the truth, i am still materialistic if not i won't be blogging here.
Ha! Ha!TongueBig Grin

Ahhh.... True words, true words.
Applies to all of us in this forum. Big Grin

The definition of 'materialistic', from an online dictionary,

believing that money and possessions are the most important aspect of your life

I doubt that all of us in this forum falls under this definition...Cool

Money and possessions are important aspect of my life, but definitely not the MOST important. Tongue

Of course! of course!
Alamak! i did not check the dictionary definition. Sorry!
But i have said more than once here before - at the end of your life on Earth, you will find your relationship (pure, with no strings attached) with your next of kin/kins (your minders) is the most important. i have some experience of this - no string attached doing things for your next of kin.
i have even asked people to google for Stanley HO the multi-millionaire or billionaire on wheelchair and judge for themselves what is most important to/for him now? - Definitely not his money but kindness from his minders.
An old,frail, feeble and maybe dementia person - Another words ROD, no use to anyone anymore except his money and assets.
This is life.
But with money you can really do a lot more with no strings attached for someone.
Amen.
WB:-

1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.

Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.

NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
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