Domain

Explanation

Money matters

• It seems that almost everything from the tangible (kind) to the intangible (service) are rated by the economic measure of money
• In the stone age, what matters is survival - water, food, shelter
• In the modern age, economics has separated people from things needed & wanted using various tools - most visibly is financial instruments - of which money is the dominant factor
• As money matters, we have to tend to money matters
• Too little money, life becomes poor & a struggle
• Too much money, life becomes rich yet a struggle
• Yet we do not know how much is too much or little until we are aware of the consequences
• Needs have to be met, Wants have to be satisfied
• If it is not too obtrusive, please allow for this little outlet of all monetary wishes

The needs spectrum

• Unless one is striped to the bare essentials, one would not be aware of & appreciate fundamental needs
• Hence, needs include clean water, food, air, health, shelter, safety & support
• To meet these needs, there are two factors to consider:

1. Environment: the surroundings and the society would form the upper & lower bounds (i.e. the range) of available resources - wholesome environments & societies would provide a broader & more comprehensive range
2. Individual: the abilities, circumstances & fortunes would form the boundary of meeting one's needs within the range allowed by the environment

• It seems that the needs spectrum is governed by the environment - where we live would determine how our needs are met
• In other words, if your needs are not met, then you should consider living in other suitable environments - although it has been popularized that we can change our environment to suit ourselves, macro changes might not be within one's or a group's abilities to initiate & finish
• We see that our actual needs do not include money, thus if our needs are met directly, then money would become redundant
• But if the structure of society is constructed within the economic framework, then our needs would necessarily be met through the medium of money

The wants spectrum

• Adopting Maslow's hierarchy of needs theory, if we treat the upper-level needs as wants to be satisfied, we can see that needs would include the following:

1. Social needs: support, living together
2. Esteem: egoism, uniqueness
3. Self-actualisation: niche

• Again two factors to satisfy wants:

1. Individual: the abilities, motivation & drive for satisfaction
2. Environment: the opportunities & barriers

• It seems that the wants spectrum is governed by the individual - who we are would determine how our wants are satisfied
• In other words, if our wants are not satisfied, we should re-think & re-live ourselves to find out the suitable individual for ourselves

Financial spectrum

• The merger of the needs spectrum & the wants spectrum would create the living spectrum that encompass how the environment shapes our needs and how we shape our wants
• However, in the modern society, the financial medium has segregated the two spectra - i.e. the merger of the two spectra is routed through a third spectrum - the financial spectrum
• Just on the modern network, all data flows have to be routed or passed through proxy servers
• Financial spectrum would perform this routing between the needs and wants spectrum
• In other words, the financial spectrum is a kind of mechanism or tool that we have to engage within the living spectrum
• Just like to reach a target geographical destination, we have to take transport whether it is taxi, bus, or any other vehicle
• The transport of the financial spectrum is the financial instruments

Financial instruments

• Financial instruments are required to perform financial transactions, which can be classified into 3 aspects:

1. Incomes: salary, interest, prizes, gifts, inheritance
2. Expenses: expenses, flat loan, insurance, travel, medical, family, gifts
3. Compulsory: taxes, personal/family/community/work/society/defence

• They can be classified according to time periods:

1. Immediate: regularly used
2. Short-term: to be used in a few years
3. Medium-term: to be used in a few decades
4. Long-term: to be used in old-age
5. Terminal: unused, but passed on

• A wholesome, comprehensive financial spectrum should include every one of the aspects in relation to one's needs and wants spectrum