It pains me to see people I care about that are so apathetic, ignorant, or even plain stubborn about financial literacy.
They can scrimp on 10 and 20 cents when groceries shopping, when buying food, when taking public transport, but have no qualms about giving thousands of dollars to insurance agents.
And the worst part, I can't convince them.
I can't get them out of their old mindsets.
They can always counter with:
1. Everyone will eventually dies.
2. If I don't save through insurance, I'll spend it anyway.
Haiz...
I am not against insurance in anyway, but people still don't understand that insurance is an expense and NOT savings.
People don't understand expense eats into your cashflow, and there are much, MUCH better alternatives that are safer, have greater liquidity and has no penalties.
Alas... I can't convince them, and I'm not going to try anymore.
I don't want such debates to spoil our relationship.
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