Kim Yong Bin reveals the story of losing 7 billion won in assets on 'The Boss Has Donkey Ears'... Emphasizing strict money management since childhood

Trot singer Kim Yong Bin appeared on KBS 2TV variety show ″The Manager Has Donkey Ears″ and spoke about his family’s past and his views on financial management. During a visit to a nail art shop with his manager, Kim Yong Bin shared his thoughts on money management. He advised his manager, ″You never know what will happen in the world. You have to start managing your money early on,″ and added, ″You should steadily save money from now on and avoid financial transactions.″ Kim Yong Bin explained that he grew up hearing repeatedly from his grandmother about not lending money or acting as a guarantor. He also revealed that his family once owned considerable wealth in Daegu, but his great-grandfather lost all the land, worth about 7 to 8 billion won at the time, due to a bad guarantee. He said, ″My great-grandfather was wealthy in Daegu. The land where the department store now stands, Suseong Lake, the middle school I attended, and the Yongdusan area were all our property,″ and added, ″He made a bad guarantee and lost everything. It was worth about 7 to 8 billion won at the time.″ Kim Yong Bin also shared that he once lent 200,000 won to a friend in middle school and never got it back. He expressed his feelings, saying, ″At that time, I felt like I was worth less than that 200,000 won.″ This experience made him more cautious about financial transactions. His manager also revealed that he lent money to an acquaintance and has been receiving small repayments every month. In response, Kim Yong Bin warned, ″Why would you do that? It’s a relief that you’re getting it back. What if you didn’t?″ He emphasized, ″If you get involved in financial transactions, you lose your friends, your money, and everything.″ Kim Yong Bin said he keeps a household ledger by hand, managing it to prevent records from disappearing instead of using a mobile app. He added, ″I have about 50 to 60 bankbooks that I’ve saved since long ago. I still have the first bankbook I opened when I was seven,″ and noted that the changes in his income before his debut are recorded in those bankbooks.