Everyone desires to be rich but not all of us can afford to do so. However, there are definitely ways where we can at least be financially stable.
Recently, Siti, who is an authorised dealer of public gold has shared her thoughts via her TikTok account on why the Chinese society in Malaysia is richer than others.
- Start saving from young
The act of saving your money requires discipline and it is definitely not the easiest task to do. While most of us keep aside 30% of our incomes as savings, Siti said that the Chinese make it a habit to save 50% of their monthly income.
- Hard work
We’re all aware that hard work is one of the “recipes” for success. In her 2nd point, Siti said that the Chinese people have been taught and reminded to work hard since they were young.
“This is because they are aware that their futures are not guaranteed,” she added.
Most of them also do not have ASB accounts and it is tougher for them to get scholarships as compared to the Bumiputeras.
- No liabilities
It is also noted that the Chinese hate collecting liabilities. For instance, they will delay their intentions and desires to own a fancy car all the way until they can really afford to do so.
- That’s where the money flows
In the meantime, Siti explained that they are often aware of their cash flow. This is because they often take note of the debit & credit of their money. In other words, they have a record of where and how their money is spent on.
- Business-minded
Last but not least, Siti concluded by saying that the Chinese are often trained to be involved in the business since they were young.
“Chinese parents are never shy when it comes to teaching their children about business because they know they will be the next generation to inherit their business in the future.”
You can watch and listen to the full video below:
Watch on TikTok
At the time of writing, the video has gained more than 60,000 views and most of the netizens agreed with her point of view. Some of them have even shared their additional thoughts on why the Chinese are richer.
“No. 6. Children are taught to be independent and responsible.”
“Most of them never depend on 1 source of income. You’re right, the Chinese have to work hard for themselves as they rarely get scholarships.”
Do keep in mind that this does not mean we cannot achieve the same financial success as they do. As long as we stick to disciplined financial management and fulfil our responsibilities, we may stand a chance to be financially stable too!
Also read: “It’s simple” – M’sian Couple Shares How They Managed To Save RM13,359 in Just 365 Days!
