Photo from Scientific American
In our last honesty circle, we heard a powerful share from a member in the community that touched so many of us.. here's the lightly edited reflection:
"Growing up, I was a huge fan of Suze Orman's financial advice. I knew that I should save more and spend less, and especially prepare for retirement! Here I was, thinking financial independence was the only name of the game.
When I was younger, my parents abandoned me because they were essentially bankrupt. I searched inside myself for the flaw that would cause my parents to leave me. When I couldn't locate this seat of inadequacy, I turned to shopping to fill that void
Money is such a rich topic (pun intended!), that it can sometimes be confusing to think about. From our work, we have learnt that not all money decisions are equal, and they require different strategies.
There are three basic types of money decisions:
When I say “wealth”, what immediately comes to mind? Money of course! In fact, the word "wealth" comes from "the condition of being well". Over the years, we asked many people what increases their well-being and found out that wealth isn’t as simple as money, but exists in so many forms. How can you start investing to build these 7 forms of wealth in your life today?
This is part 2 of the story of water shortage. Read part 1 here.
It turns out that the tapirs had a unique ability. One day, a young tapir was tired of being weary, and started following his nose to a pit far away. Guess what? He discovered that his long snout could sniff out new sources of water, and he couldn’t wait to tell the others. The tapirs learnt that if they could get in touch with their true nature, they could find new water, and contribute meaningfully to the solution as well.
There was a terrible crisis in the animal community. The animals noticed that the clouds were starting to disappear, and the rivers were running dry. Every community reacted to the water shortage in a different way..
The tapirs lay listless at the bottom of the river complaining. “Oh, the world is ending!” they would cry, burying their long snouts in the river bed, feeling depressed and utterly helpless.
by Lisabelle Tan
One might think that mindfulness and money are of separate spheres – with the former being noble and perhaps even encompassing a spiritual aspect, while the latter is something associated with dread, survival and a mercenary attitude. However last Tuesday, PlayMoolah facilitated a panel discussion that revealed how mindfulness and money are in fact two sides of the same social coin.
What is money?
During the war, my grandfather made a lot of “banana money”. He apparently had so much money due to hyperinflation that it filled a whole cupboard. When the occupiers left, all that banana money became worthless. This taught me my first lesson on what money really is.
As I was preparing for my wedding, a girlfriend of mine gave me an idea to make the traditional “hens party” a bit more meaningful and adventurous – How about a “volunteer” hens party? I fell in love with the idea instantly as it allowed me to integrate service with what I deeply cared about. In this case, how can each action I take go a further mile in putting a stop to poverty?
Little did I realise, that as the seeds of this idea germinated, my bridesmaids and I found ourselves whisked away traveling 12 hours by plane, and then by car, from Singapore to inland Toraja, a mountainous region of South Sulawesi. As we were on the road it dawned on me that this would have been the same amount of time if I travelled from San Francisco to Seoul, only that this time, we were heading to our neighbouring country, Indonesia.
When we think of wealth, we mostly associate it with money, investments, and assets relating to our financial capital. And then we might pause, and intuitively feel that wealth is definitely much more than just having money. My first understanding of wealth, came from this excellent essay by Paul Graham:
"If you want to create wealth, it will help to understand what it is. Wealth is not the same thing as money. Wealth is as old as human history. Far older, in fact; ants have wealth. Money is a comparatively recent invention.