How Saving Money Lets Singaporeans Save Face

Saving face is quite significant for everyone who is brought up in the Asia Culture. And More so for those people who were born in Singapore. Saving face and saving money are related, and they have a lot of sensible uses which include encouraging people to be self-reliant, informed, collected and being providers.

Similarity of Saving Money and Saving Face

When looking at the similarities of saving money and saving face, the first approach is to look at the meaning of “lose face“. It is quite embarrassing in the Asian culture for one to go through the following situations which are as a result of poor financial discipline:

. Requesting friends or retired parents for financial support
. Unable to present yourself formally
. Being extravagant or distractive
. Being incomprehensive
. Inability to perform at work

Being unable to manage finances can make one to start depending on others for financial support and eventually such behavior may lead to poverty.

However, for someone who has the aspects of “face” is well informed, is a provider, performs well at work, and is self-reliant. Such a person is disciplined even in his saving plans and has the following qualities:

1. Self-reliance

In Singapore, relying on relatives for financial support can be a burden and especially when you depend on them for a long time. Although it is always easy to get assistance from family members or money lenders in time of need like when you want to pay a mortgage, medical need or to boost a collapsing business, it becomes embarrassing when you approach them for a long time and it is a way to lose face. This damages ones self-worth as no one wants to be seen as a burden in the society or in the family.

It is always advisable to save 20 per cent of your monthly income immediately you start working. In this way, you will never rely on family members if you focus on accumulating at least six months of your salary as your emergency fund. This savings will be able to support you until you become stable again in case you loss your job.

2. Saving Money Makes You Halfway a Provider

Being a provider is a way of saving face. It means being able to provide for your children if you are a parent or being able to look after your retired parents if you are a child. Face also comes from being generous to the community. For instance supporting community projects and other causes. Face accounts has been a contributing factor across Singapore history like: Lee Kong Chian and Tan Kah Kee who are philanthropists that benefited their societies.

However saving money alone can not make you a provider, it only takes you half way to the goal. You are required to invest and expand your income. Your savings do not only help you, you are supposed to be of benefit to relatives or retired parents in times of need.

3. Saving Money Improves your Work Performance

Saving money makes you settled at work. When you have financial problems it becomes a barrier to work. And since your mind is not at peace, its hard to be energetic and creative and this leads to poor work performance. For instance, if you have no idea on how you will raise your mortgage fee at the end of the month, or if you are spending your last dollar in the bank account and you have no idea on how you will be able to place food on the table for your children, then the last thing on your mind is how to make a power point presentation for that meeting.

Being financially unstable hinders our performance at work. It is quite disturbing just like loosing a loved one or going through a relationship breakup. This may lead to a constant lose of face if your boss has to summon you all the time due to poor performance. Having a face may therefore mean being settled at work which is gained easily if you do not go through financial crisis.

4. You May Not Need to Spend Money to Keep your Appearances

We often spend more than we are required when we want to save face. This is a heresy. We don’t need to look expensive or wear branded clothes and watches to have a face. We only need to maintain our reserved appearance, that is keeping your home well maintained and ensuring that you meet the needs of your children if you are a parent, as well as being well groomed and and well dressed.

The right way to meet these requirements is by practicing financial discipline. Avoid unnecessary or extravagant spending. Be careful on the financial services you use. For example if you need to get finances from a money lender such as Credithub capital, go for options with low or zero interest rate.

Always ensure that you do not overspend your money on unnecessary things, through this you will be able to meet the basic requirements of appearing well. Remember, appearance is being respectable and not about wearing expensive clothes.

5. Saving Money Means Avoiding Senseless Behavior

The easiest way to lose face is by being extravagant and overspending in clubs and lounges every weekend. Even people who are rich and can afford lavish lifestyles begin to lose face when they are associated with such behaviors.

We are not limiting you from having fun, rather be mindful on how you spend your money. Doing it occasionally is fine, but making it a habit even when you can afford it gives you the appearance of being a wasteful person. Such behavior can lead to bankruptcy if that is your way of spending money. This is how celebrities end up being bankrupt even though they may be having millions of dollars in their bank accounts. Remember each party becomes even more expensive than the last and so you spend more and more money draining your account each time.

Save Money if You Do Not Care to Save Face

Sometimes we may think the idea of save face is out of date. You may be right, but always think of having a face as an added advantage to careful saving. Have more of your life under control by having things under control.

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