[Stoki]

 

By Ryan Ong,

When I was in school, I learned about Maslow’s Hierarchy of Needs. You have probably heard of it – it’s a pyramid that suggests people will look for food and shelter first, followed by physical safety, and lastly, psychological needs like friendship, etc.

However, this has become harder to believe as many I know today seem to prioritise their esteem needs and desire for material belongings instead, all for the sake of keeping up their appearances.

In my teen years, I had friends who were willing to forego lunches or wear worn-out shoes, just so they could afford the latest tablets or phones. As an adult, I’ve also seen people forego home ownership, just so they can own a car that they don’t really need.

In fact, I have an acquaintance from my university days, who exemplifies this “asset rich, cash poor” lifestyle. Though he owns a $17,000 watch (bought as an ‘investment’), two club memberships and a Lexus, he’s in fact notorious for being cash strapped. In reality, he owes three or four months of his salary worth of debt on his credit card, paying only the minimum sum due each month.


Situations like these, as well as some of my own life experiences, have caused a significant change in how I view lifestyle choices and the value of money today.