Where i was…
I grew up in a working class family. My parents worked their socks off for a living mainly to raise me & my little brother up. When i was a kid, i didn’t have the luxury other kids have. I didn’t have a Sega Mega Drive or a PlayStation which i craved very much for when i was then. I’m starting to show my age am i.
My Father and Mother both worked as a Kitchen Chef and a Kitchen Porter respectively.
They have very traditional values and core beliefs. At a very young age, my parents would try to embed good principles and values into me. They keep on telling me to keep my feet on the ground. They tell me to be ambitious whilst maintaining a humble head.
They’ve been feeding me good morals and trying to embed good ethics in me. They’ve been encouraging me to read and write a lot. One the main messages they convey to me is to invest in my own abilities. Basically, knowledge is power they say.
My parents are so traditional to the point where they don’t like gambling at all. They don’t condone it. That is how serious their views are on gambling. They believe gambling is a very bad thing.
When it comes to financial and money management, all they believe in is saving. They don’t believe in investment. Not a single bit. They think investment is gambling. Actually, in a way… it is sort of is… depending on how you see it.
Saving is putting your money away knowing you will definitely get back at least the same amount you put in originally plus some ‘interests’ gained on top of it.
Safe to say saving is a safe thing.
Investment on the other hand is putting your money to purchase an asset in an equivalent monetary value on the time of purchase. Unlike Saving there is no guarantee that you will retrieve back the amount you put in originally. Investments can grow in value or they can fall in value.
Hence, why depending on how you view it, investment can be like ‘gambling’ at the end of the day as you are effectively gambling on the value rising for a particular asset.
My parents would therefore don’t like buying assets such as company Stocks. Not even bonds it has…