By Alison Liew / Youth Writer

IT SEEMS THAT there is much that parents can teach their kids in the midst of the financial crisis. In a time where belts are tightening and pay increments are frozen, ‘thrift’ is a new word that should be added into the vocabulary.

During times of economic prosperity, it is only natural for parents to give their children the best. For those who are wealthy however, there is a need to guard against building too protective a shelter around their kids.

Fitting the stereotype

I vividly remembered having a classmate who did not know how to take the MRT- an omnipresent mode of transport in Singapore. Despite my clear instructions on how to take the MRT, I learnt on the next day that he took a cab to his destination as he did not want to get lost in the unfamiliar surroundings of the MRT.

He explained that he has never taken the MRT before. All his life, he has been chauffeured around.

Another incident from another classmate totally takes the cake. His phone rang in the middle of a tutorial lesson and he had the audacity to pick up the phone and raise his voice so that everyone could hear that his father was buying an Yves Saint Laurent jacket from London as a souvenir.

Obviously, he was oblivious to the presence of the teacher who was trying her best to explain the workings of the price mechanism.

That is a peek into the lives of kids who are rich but pampered. While these students are the crème de la crème of the nation’s cohort; it is questionable if they can ever sympathise with the have-nots in Singapore. That is because being born with a silver spoon in your mouth usually means a maid and a chauffeur and maybe even a personal bank officer – all employed to mend any cracks that appear on that perfect shelter to ensure a smooth sailing journey for the children.

While the intentions are commendable, these may have resulted in seeds of decay being sown into these children. The children can only learn about living a meaningful life by enduring a downpour once in a while, removing obstacles on their own and certainly not having them done by someone else.

Parental upbringing essential

Then again, does this necessarily mean that being born into a wealthy family will consign one to a life of ruin? Not necessarily. Just like how rich kids may not necessarily grow up spoilt, children from humbler backgrounds may not grow up to be sympathetic and thrifty.

Consider Ivanka Trump and Adam Khoo, both fortunate enough to be born into wealthy families, but instead carved out successful careers on their own without much help from the family.

For a start, Adam Khoo was made to learn the value of money. He was made to save and sometimes earn for his next prized gadget. For instance, he would be rewarded for running a simple errand like washing the family’s car.

He was encouraged to take up part-time jobs such as deejaying during his school holidays instead of bumping aimlessly around at home. It is clear that when children are slogging for that six-dollar-an-hour salary in the real world, they will begin to realise that money does not grow on the trees in their backyard and that it is not their birthright to profligate them away. In addition, they will learn to work as a team and take orders from their bosses.

Humble pies like these are rarely served at home.

Donald Trump is a good role-model to his children. He is mindful not to flash his credit cards at will during family trips; for he knows that if he himself is reckless in his spending, he really cannot expect his children to turn up to be responsible spenders. Perhaps, the most important guiding principle is that Donald Trump did not just bequeath a fat inheritance, but also the values and work ethic that have served him well.

A word of advice from one of the richest parents in this world, Warren Buffet, who said, “Leave enough for your children to do anything, but not too much that they do nothing.”

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