Guarding Values, Building Savings
I believe many young people today have never seen a red bank saving book (passbook) — the little book we used to update deposits by hand. I still remember, when I was about 20 and had just graduated to start working, I went to open a savings account and was given a small red saving book. At that time, I looked forward to every payday, carefully updating the book and recording every deposit with excitement.
In those years, whether young or old, male or female, once you started working or even if you were a student doing part-time jobs, you would have a saving book. Back then, people had the habit of opening their saving book often, driven by the simple desire to see the figures rise.
During the Second World War, life was extremely harsh, like living through hell. After the war, as order was gradually restored, people held on to hope for the future. They worked hard, cut down on spending, and saved diligently. Slowly, society built up strong habits of thrift, perseverance, and endurance.
By the 1980s, Malaysia’s economy was shifting from agriculture to industry. More people received proper education, and the younger generation was filled with ambition. Saving became an essential step to lay the foundation for their careers and families.
In the 1990s, society entered another stage, moving from industrialisation into professional services. New careers like professional consultants began to emerge. Many young people dreamed of becoming their own bosses. Savings turned into seed money for their future ventures. During that era, the responsibilities of building a family, buying a house, and raising children became stronger. People worked hard and believed that “living frugally and working diligently” was the key to success.
When the new millennium arrived, the internet became popular. Life became more colourful, and entertainment more abundant. People pursued freedom and happiness more than ever, but they still did not forget the basic values of effort and survival. By then, the pain of the war years had faded, so much so that many could hardly imagine it.
Then, in 2020, the Covid-19 pandemic struck the world. People everywhere were caught off guard, gripped by fear and helplessness. During Malaysia’s Movement Control Order (MCO), it became clear that many had little or no savings to face such a crisis. Panic and regret followed, and some had to rely on emergency aid to survive. Only with the arrival of vaccines did the situation gradually improve.
Today, the pandemic has passed, and society has returned to normal. People should feel relieved and hopeful about the future. At the same time, society should work towards better planning, quietly laying the groundwork for a brighter world.
Yet, it is worrying that according to World Bank studies, people today no longer have the same strong saving habits or hardworking spirit as those in the 70s, 80s and 90s. At the same time, the trend of an ageing population is growing, while the idea of continuing the family line is slowly being neglected.
In today’s slang, there is even a phrase called “lying flat,” a pessimistic, negative mindset of giving up. This negative thinking makes people forget how the older generations worked hard to create a better future for us. Some live only for today, with no savings and no plan; others overspend on luxuries and end up as the month-end crowd, those who run out of money by payday.
The Employees Provident Fund (EPF) has reported that more young people are not contributing enough. This is an unhealthy social problem. In this fast-changing technological era, where food and basic needs are no longer an issue, we must pay greater attention to family and career planning.
From an economic perspective, in today’s prosperous society, young people should be full of hope, planning carefully for their future—how to build families and live better lives, ensuring that each generation surpasses the last. We must not allow a small group of “lying flat” youth to influence society, making it lazy and careless. I urge all parents to put in greater effort and discipline in providing proper family education to ensure that the next generation does not grow complacent.
“Lying flat” is a dangerous attitude. It harms the economy and blocks national progress. We are fortunate to live in a peaceful and modern Malaysia. As descendants, we should inherit the resilience of our elders, keep the habit of saving, play our roles as responsible citizens, plan ahead, and shoulder the responsibility of building new families and continuing the next generation, so that our children live better than we do.
I firmly believe Malaysia has abundant natural resources, racial harmony, and an open-minded government. These are strong foundations for a happy life. For Malaysians, making sure that every generation lives better than the last should not be difficult. With perseverance and determination, it is entirely within reach.
