Everybody in this world is different from one another. But do you know that understanding differences can help you better manage your money?
As we grow up, we gradually develop a set of our own values or beliefs. These are influenced by society, our family, the education we receive and so on. One this value system is set up, it is not easy to change later in life.
Financial experts say that every one also has their own belief of how to manage their finances. This is part of our value system and it has a great impact on the way we look after our money.
According to our different values, experts put in three categories. They are: the ant, the cricket and the snail.
The ant ---works first
Just like ants who work heart and soul in summer in order to store food for winter, these people do not care about enjoying the moment. They work very hard and save money they earn so that they can enjoy life when they get old and retire. The ant loves to save but they could make more out of their money if they were willing to invest in some funds and stocks with low risk.
The cricket ---fun first
The cricket wants to enjoy everything now and does not too much about the future. They even borrow money when they really want something. Many young people now belong to this group. These people have little savings. These people have little savings. When they get old, they might have problem. They should learn to save and buy insurance.
The snail---lives under pressure
The snail refers to people who make life difficult for themselves. They take big long-term from in order to bug things such as luxury house. They are happy to take big loans ever though they are not sure they can afford it. This can cause problems in the future. They should plane more carefully.