Debating about financial freedom

Finding contentment

In contrast to his peers who are striving to achieve financial independence, Gu Siyi chose to follow his heart instead by setting up Project VolunOnline, a non-governmental organization (NGO) that seeks to provide children who are underprivileged or living in remote areas with access to education via virtual classrooms. The NGO dispatches volunteers to rural areas to set up these classrooms and the lessons are conducted by teachers based in cities like Shanghai.

The 48-year-old used to work in the sales department of a multinational company in Shanghai while managing this organization that he started in 2002. Four years ago, he decided to quit his job and focus on Project VolunOnline, which has since its inception helped more than 2,500 people.

"I am far from achieving financial freedom. In fact, I can barely make ends meet - I only get 4,000 yuan monthly from Project VolunOnline. However, thanks to my wife's support, I can continue to work on this project that fulfills me spiritually," he added.

But Gu is not adverse to the idea of attaining financial freedom one day. He admits with a laugh that he spends a small amount of money buying lottery tickets every week.

Gu said that the motivation to dedicate all his time and effort to Project VolunOnline stems from the belief that most people will not achieve financial freedom in their life unless they do nothing but pursue this goal, which can be somewhat unrealistic and depressing.

Instead, he believes it is more viable for people to aim for a life where they earn a steady income that is enough to sustain a humble lifestyle.

Financial freedom and happiness

Yu Hai, a sociology professor at Fudan University, said that it is only natural for Chinese people to make the pursuit of wealth a priority in life as they had experienced many years of poverty and hunger before.

However, he added that money doesn't necessarily equate to happiness in life.

"As a matter of fact, the growing wealth in Chinese families has reached a certain point that some of them are richer than their peers in the US. But many young Chinese are actually unhappy because they are burdened by the fact that they are too young to afford a 150 square meter apartment in Shanghai. In contrast, many of my American students at Fudan University are bogged down by student loans but are yet free and happy," said Yu.

Qin shares the same sentiment - he found that the more money he earned, the less happiness and satisfaction he experienced.

"This is because I feel more pressure as my company grows. I've spent too much time on work, and too little with my family and best friends. I've been reduced to a money-making machine," explained Qin.

"One does not need to have so much money to lead a quality life. Fortune is only one aspect of our lives. A limo, a yacht, a business jet or a big house is not a life necessity. Once someone's fortune reaches a certain level, making money is merely a numbers game," said Yu.

wang_ying@chinadaily.com.cn