Branded goods
I wonder what it is with branded goods, why everyone seems to want to own it to elevate their status and position in the society. I thought cash is more important but apparently, your face value is very important too.
I have a high income earner friend who is at the top 1%. She has all the things I do not have. Her Prada purse costs more than $3000, her Gucci bag more than $5000, her Mercedes Benz costs around S$200k.
Sometimes I feel a bit out of league talking to her.
When I buy presents for my friends, I am speaking in the budget lower than $100. When she buys gifts for her close ones, it's more than $1000. Even shopping with her, I go for clothes cheaper than $100. Her normal range costs upwards of $500. Shopping with her is definitely a good experience as I have never thought of going to those shops at all.
But I am not envious. Seriously.
She can lead her lavish lifestyle because she can afford it. She earns a lot and spends a lot. I spend within my limit. If I can pull off a dress I bought online that cost only $30, I am happy. I have zero branded goods on me unless you count Zara and Mango as branded goods.
Recently, my mum saw a really nice COACH bag that costs $850. I can see that she really wanted it and she asked me if I would buy it. I did not hesitate at all and said no. Why? Because I can change my $50 bag easily without ripping my heart out. I have not owned any products priced more than $100 so when I finally buy something that expensive, it will be because I have earned my financial freedom.
The funny thing, I did not even flinch when I buy the bag for my mum. I said I will not buy it for myself but the budget is not restricted when buying for your loved ones. I like myself being 'Generous to others yet stingy to myself'.
My mum deserved the gift, I have not earned it. Am I really so noble? Not at all, I am just frugal and hope you are too.
I have a high income earner friend who is at the top 1%. She has all the things I do not have. Her Prada purse costs more than $3000, her Gucci bag more than $5000, her Mercedes Benz costs around S$200k.
Sometimes I feel a bit out of league talking to her.
When I buy presents for my friends, I am speaking in the budget lower than $100. When she buys gifts for her close ones, it's more than $1000. Even shopping with her, I go for clothes cheaper than $100. Her normal range costs upwards of $500. Shopping with her is definitely a good experience as I have never thought of going to those shops at all.
But I am not envious. Seriously.
She can lead her lavish lifestyle because she can afford it. She earns a lot and spends a lot. I spend within my limit. If I can pull off a dress I bought online that cost only $30, I am happy. I have zero branded goods on me unless you count Zara and Mango as branded goods.
Recently, my mum saw a really nice COACH bag that costs $850. I can see that she really wanted it and she asked me if I would buy it. I did not hesitate at all and said no. Why? Because I can change my $50 bag easily without ripping my heart out. I have not owned any products priced more than $100 so when I finally buy something that expensive, it will be because I have earned my financial freedom.
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| Think I prefer this kind of bag |
My mum deserved the gift, I have not earned it. Am I really so noble? Not at all, I am just frugal and hope you are too.
Jes
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You are buying the experience of making your mother happy when you bought the Coach bag for her. Many studies have shown that spending money on ourselves on "things" make us happy for a short while and it goes away. Spending people on loved ones (the experience) lasts with us as we can relish the memories over and over and over again for our own happiness.
ReplyDeleteThat is one of the truisms that I have found out for myself in my own journey towards financial freedom. Thus, I derive more happiness in spending on my child than on myself.
Be well and prosper.
Hi PG,
DeleteOmg, you are spot on! Thank you for giving me more details on this as I can't explain why. Now I know it's because I derive greater happiness. My mum is also happier with my gift . Win-win! :P
Its all relative. Perhaps, just perhaps, you are making well above $1m annually or have a net worth of say, >$50m, ... you may not be saying the same things you do now regarding these brands :p, cheers
ReplyDeleteHi Gemini,
DeleteYou are right, if I earn much more I might think that a few thousand is peanuts. However, I hope to still maintain my current lifestyle like Warren Buffett and other rich frugal man so I will have even greater disposable income. Thank you for your input!
Hi Temperament,
ReplyDeleteAre you Jewish? Haha. I have informed my husband again about how lucky he is thanks to you.
Wah you think so highly of me.. I hope to still be blogging when I am prosperous. Let's hope you are right :)
Wow, $100 gifts. I want to be your friend!
ReplyDeleteI am stingy to both my wife and myself but more generous to others. Is that good? Hmm...
Hi 15HWW,
DeleteChanged account name ah? Haha that is why I do not have many friends :P
Very good to find a wife who you can be stingy to... hehe!