Thursday, 19 October 2017

Articles 


Money And It’s Value Among the Young Adults: Manipur picture

Seine Yumnam

It is almost embedded in our culture to believe that young-adults of age below 21-22 should be kept uninformed of the financial challenges of a family. They are unaware about the debt accumulated by their parents for their own education and expenses. Until they reach the age of 23 or 24 and start handling personal expenses by themselves, they do not understand the value of money.

It is not surprising to see a lot of young-adults demanding bikes and cars without earning a penny for themselves. Such keep-children-away-from-financial-matters culture installs a behaviour to the children to spend frivolously – extensive shopping, thoughtless consumption of unnecessary snacks and cookies, and what not; it is only the parents who bear the pain of having their money spent unwisely. Even worst, debt may get heavier if such behaviour remains unchanged for years. We definitely see this happening in Manipur. Even when the children grow up and reach the age of 23-24, they are incapable of managing their money wisely and effectively. The reason is that the lesson to spend responsibly cannot be taught in a day, or two, or in a month. It is a lifelong lesson. The earlier we start, the better off we are. But clearly, this is not happening.

We need to change this culture. Parents need to teach personal finance lessons to their children and they need to keep their children informed about the financial status of the family. If they continue to keep their children uninformed about such issues, they are only teaching their children to be ignorant.

However, at most times, culture is hard to change. Culture is something that we have practised for years over and over again. Let’s say parents continue to teach their children to be ignorant. What can the teenagers do to teach themselves a lesson that will serve them for the rest of their life?

I will answer this question with an example. In the U.S.A., the first lesson a child learns is to be independent; most importantly to be financially independent. This does not mean the American parents do not care about their children as much as Meitei parents do; in fact the parents-children relationship is more open in the U.S.A than what wehavein Manipur. The difference is that American parents are little more critical when it comes to giving money to their children. What is the point of just giving money when there is no lesson taught?

I have a friend who is 19 years old. She is the State Chair/Representative of an International NGO. Since her childhood, her parents have been consistently teaching the meaning of money, the nature of wise spending, and the hard work involved in earning a penny. Now, at the age of 19, she pays her own college fees, buys her own car, phone, and clothes by her own hard-earned money, and plans to own a house sooner than later. How does she do that? For her, every minute counts, and hence every break from school. During school breaks, she works for restaurants, retails, library, or companies to get some quick bucks and save up. During the school time, she does similar kind of jobs but mostly on weekends, and sometimes even during weekdays for an hour or two daily. Besides her job through which she earns for herself, she is still able to keep her academic performance uptight.

What is her secret? I know her pretty well, and she is neither a gifted genius nor a cyborg. Anyone will be able to do exactly what she is doing if one has the skill of time management. A lot of young-adults in Manipur spends hours with friends drinking, doing drugs, riding bikes, and the list of unproductive involvements goes on. Then they complain for not having enough time to study and also do household works. Friends are important, but spending 6-7 hours every weekend just doing unproductive thingswill not take anyone anywhere. By the end of the day, we, as an individual, decide who we are and who we become.

Let’s do the math and see what happens when we divert those unproductive hours into something productive – earning some money. During the weekdays, school hours are long and tiring, so it’s hard to do extra work. But on weekends, I am pretty sure we can at least commit five hours on Saturdays and Sundays on a job – maybe at the Classic hotel, or mobile retails, or at an ngari shop in the market. Let’s say you earn Rs.10 per hour, you would earn Rs.100 on one weekend, Rs.400 in one month, and Rs.4800 in a year!

It’s not just the money that you can earn which is valuable, once you start spending the money that you earned for yourself, you will start to understand the game of wise spending or at least try to understand – you will learn how to actresponsibly while dealing with money. Why do we have to wait until we finish our college degree and get a job to learn how to earn, spend, and save? Don’t we all want to retire with enough money to pay for medicals, food, and other expenses? If yes, then start earning and saving as early as possible. It is true that money isn’t everything, but it is also true that it isn’t nothing. Love does not buy food, car, clothes, and house. I work part-time on the campus at my college (Wabash College, Indiana, USA) and I earn Rs.45,000 every month. This helps me support my expenses and fees (though I am not completely financially independent), and my existence seems little more meaningful that it was before, trust me.

Young-adults in Manipur need to realize that bikes aren’t assets but liabilities. How much of your parents’ money are wasted in maintaining your bike and buyingfuel? If you are really that lazy and not willing to work on a part-time job, then stop eating up your parents’ money. Besides that, Manipur isn’t a place where we don’t have sufficient public transports to rely on. We do have.

We should not be a victim of a culture-caused illiteracy. Age should no longer determine how much we know. If we can learn it now, why wait for another 10 years? If we can earn now and save up, why wait for a college degree? It’s never too early to learn a lifetime lesson, but it can be too late.

2-Sep-2014 / IFP Articles / 1 Comments

Comments


Elizabeth

10-Sep-2014 | 06:29 PM

Great thinking and excellent observation. Properly analysed and presented perfectly



Random Items 

Nemcha for action against rapists

CJM Noutuneshwari records statement of minor victim IMPHAL | Apr 21 Social Welfare and Cooperation Minister, Nemcha Kipgen strongly condemning the recent gang rape of two teenage girls on Cheiraoba evening, urged the authority concerned to take stringen.....

22-Apr-2017 | Our Staff Reporter | 0 Comments

Biren nod to adopt 7th pay

IMPHAL | Apr 21 A 15 member delegation comprising of Core Committee and Executive Committee members of Joint Administrative Council (JAC) of All Manipur Trade Unions’ Council (AMTUC) and All Manipur Govt. Employees’ Organisation (AMGEO) led by its presid.....

22-Apr-2017 | Our Staff Reporter | 0 Comments

Reflect ethos of state in films: Dy CM

IMPHAL | Apr 21 Deputy Chief Minister Yumnam Joykumar in his chief guest speech, today called upon the film enthusiasts to represent and reflect the ethos, philosophy and the dissolving values of our tradition and culture in the films, during the Cine Ar.....

22-Apr-2017 | Our Staff Reporter | 0 Comments

Khongjom Battle Debate

Controversy over Khongjom battle has resurfaced with the coming of the month of April. The contestation is on the date of the battle. April 23 or April 25? Some historians as well as independent researchers, including a few social activists have contended.....

22-Apr-2017 | IFP Editorials | 0 Comments

CM Biren removes red beacon

IMPHAL | Apr 21 The Chief Minister Nongthombam Biren has stopped using the red beacon on his official car since yesterday. He directed the removal of the red beacons from his official vehicles along with other vehicles attached with him. The Union Cabi.....

22-Apr-2017 | Press Release | 0 Comments

Results of health officials to be announced

IMPHAL | Apr 21 Appointment letters of selected candidates of medical health department, 2016 which includes ANM, GNM, multitasking and pharmacist would be announced soon by the BJP government. The statement was said by Marching, vice president of JAC f.....

22-Apr-2017 | Press Release | 0 Comments

Photography fellowship

IMPHAL | Apr 21 The senior photojournalist, Jinendra Maibam, son of Maibam Jiten and Maibam Memtombi Devi of Lalambung Takhellambam Leikai was selected for Fellowship of School of Fototechnik (FSoF) in the annual day function held yesterday at South Pate.....

22-Apr-2017 | Press Release | 0 Comments

CM interacts with bureaucrats

IMPHAL| Apr 21 As a necessary step for good governance in the state, Manipur Chief Minister, Nongthongbam Biren Singh called upon civil servants of the state on its 12th National Civil Services observance day for periodic dialogue and interaction with le.....

22-Apr-2017 | Our Staff Reporter | 0 Comments

Shija cleft week

IMPHAL| Apr 21 As part of the ongoing ‘Shija Cleft week’ which began from last April 17, an awareness rally on free cleft lip and palate surgery was organised today. The rally took place from Western Kangla gate to Indian Medical Association (IMA) hall,.....

22-Apr-2017 | Press Release | 0 Comments

HSE answer scripts evaluation from tomorrow

IMPHAL | Apr 21 The Council of Higher Secondary Education, Manipur has informed that the evaluation work of answer scripts of the Higher Secondary Examination (HSE), 201 7 will be started from tomorrow. A release said a group discussion session of the a.....

22-Apr-2017 | Press Release | 0 Comments

EMRS students achieve gold in English Olympiad

KANGPOKPI | Apr 21 Four students of Eklavya Model Residential School (EMRS), Gamnom Sapormeina, Kangpokpi district achieved another gold medal from Science Olympiad Foundation (SOF), India. Tinpilhing Haokip, Class X, daughter of (Late) Tongkholun Haoki.....

22-Apr-2017 | Correspondent | 0 Comments

More decry gang rape of teenage girls

KANGPOKPI | Apr 21 Many more condemnation poured in over the incident of the shocking gang rape of teenage girls on April 14 demanding swift action so as to delivered justice to the victims and a befitting lesson to such criminal in the state. Kuki Wome.....

22-Apr-2017 | Correspondent | 0 Comments

Latest Comments