What Do People Do to Afford Such Life?

aboogee on 14/02/2021 - 17:11
Last edited 14/02/2021 - 17:22 by 1 other user

Wife wanted to go get a $2,000 watch.

I don't usually get her anything so I thought yeah I will get her something special this Valentines. Drove to the CBD and saw a long queue outside Hermes, LV, Chanel. My wife told me there was a even longer queue outside Rolex. And my wife told me the purse and bags etc would easily cost $5k and above.

I thought everyone would be cutting back on expenses given the uncertainty but where are all these people getting money to spend on discretionary luxury goods? Not saying it is bad but where do these people do to be able to afford such luxurious lifestyle. To put it in perspective, I wear a Hush Puppies t-shirt (was a gift) and a brand-less short pants, I have been using iPhone 8 with shattered screen for 1.5yrs now. Been living frugally since entering workforce and I still feel I am very poor. When I step outside my home, my personal belongings on me might be worth $100-$200 max.

Any idea anyone?

Financial

Comments

    • nodeahs on 14/02/2021 - 21:01
      +9

      7.8 Billion now.

      • MrBear on 15/02/2021 - 09:25
        +16

        That was quick.

        • Chandler on 15/02/2021 - 13:44
          +2

          #COVIDbaby

    • vindictus on 19/02/2021 - 07:10

      majority of which live in squalor while the degenerates line up for $5k handbags and watches, truly a beautiful world we live in

      • Skullytor on 14/04/2021 - 22:24

        That's a low blow. A lot of people who buy this stuff also support charities.

  • SF3 on 14/02/2021 - 17:36
    +6

    Money from their parents.

    • SF3 on 15/02/2021 - 13:12

      An article from smh.com.au some of these people most likely takes part in OP's queue at the shop.

      This is in Sydney too!!

    • SlavOz on 16/02/2021 - 10:11
      +9

      Or the government. Why save money to protect your financial commitments when the government will just step in and bail you out when it blows up?

      Australia punishes the frugal and rewards the reckless, that's just the way it is.

  • plmko on 14/02/2021 - 17:36
    +3

    Just go back to believing everyone is cutting back.

  • Unorthodox on 14/02/2021 - 17:37
    +9

    I see a lot of early 20s to mid 20s now getting Mercedes, Audi etc as their main cars during uni or as fresh grads.

    Even though they may not be current year models, and are usually a few years older, it does seem a bit lavish to spend so much that early on.

    I also notice more relationships are becoming more materialistic with those brands being the standard for gifts.

    That said… Maybe it's worth living life now esp given covid has shown you can lose a lot of your luxuries (travel and holidays, being able to go out for longer drives/roadtrips and enjoying the better dine in experiences)

    • Eeples on 14/02/2021 - 17:54
      +7

      I gave the gift of an emoji rose today; at 1 sec past midnight this morning.

    • AustriaBargain on 14/02/2021 - 18:04
      +3

      Probably one of their parents old cars they are given when their parents upgrade.

      • Unorthodox on 14/02/2021 - 19:23
        +3

        Haha I would agree but they make an effort to post on social media at the dealership with the whole ribbon etc

        Not too sure on the vehicle finance side of things but have noticed a few articles about "influencers" promoting car dealership financing

        • AustriaBargain on 14/02/2021 - 19:54

          Actually pretty smart I guess, to pimp the dealer if they have lots of followers, when buying an aspirational product.

        • aboogee on 14/02/2021 - 21:22
          +1

          lol? for a second hand car?
          give me a break haha

    • greatlamp on 15/02/2021 - 00:10
      +16

      Young people go out and buy a brand new kia or mazda for 25k, noone says anything. Take the same 25k and buy a used Mercedes or BMW and people say they must be showing off or daddy paid for it.

      • Unorthodox on 15/02/2021 - 00:21
        +4

        I'd say it's more these used Mercs B and BMWs are hitting the $60k+ range vs the $25k ones that are clearly aged

        No real judgement given COVID and savings from holiday/travel but generally being a uni student means less income and having your job potentially affected by covid and jobkeeper

        • maverickjohn on 15/02/2021 - 21:15
          +2

          I got my bmw 218 demo for 46k, 3k more than the Mazda 3 Astina .
          I think the perception of BMW being this unaffordable brand is relative to the car your purchasing.
          The car I had just for reference also included comfort pack and enhancement package.
          Please note that this is not to brag as I really just want to put it to perspective that you can get a nice "luxury car" for a similar price to a Japanese everyday car.

          • OldnBroke on 15/02/2021 - 21:42
            +2

            @maverickjohn: Out of interest, how does the BMW servicing and parts stack up to that for the Kia?

            • maverickjohn on 16/02/2021 - 07:19

              @OldnBroke: I got free servicing for 5 years. Don't know yet

              • lunchbox99 on 16/02/2021 - 09:16
                +3

                @maverickjohn: Oh don't worry… you will find out.

                That is why people think it's a luxury purchase - because you will be stiffed for servicing and parts. My boss owns a Porsche and his servicing and repair bills make my eyes water.

                I have a theory that the dealer has a nice little scam going because they know why people bought the brand - they grossly overcharge for everything, but make the owner feel like they would be cheap/poor to question it.

                • havabeer on 16/02/2021 - 10:20

                  @lunchbox99: This, I looked at some older Porsche's recently, then I saw one with service receipts from 20 years ago, it was still more expensive than my supposedly expensive diesel servicing today.

                • gezza90 on 16/02/2021 - 14:29
                  +6

                  @lunchbox99: Couldn't agree more. I own a 2010 Audi A3 which I purchased for $9700. Very well specced out, S-Line, White, sat nav, leather, rear camera, Black roof lining etc… Market value at the time was $15k but I think not many people purchased it because 1. it's a second hand German car and 2. it's a manual.

                  So 3 years later and I'm left with an engine rebuild costing $10-15k. I put up a good fight for 7 months with Audi head office and managed to get it for $800. While engine is open, might as well change timing chain, VAC pump, clutch, water pump and other 'hard to reach' parts. So it's still costing me $5k+ but there's $25k worth of work being done to it. Standard service with me supplying oil is $500 at Audi service centre.

                  Would I go back and purchase another car? Yes. I'd get a used Corolla, Civic or Mazda 3. But considering I'm getting all these repairs done might as well use it and enjoy it.

                  You can't compare a $40k Japanese/Korean car to a $40k European car. Apples and oranges. Think about ongoing service costs.

                  • maverickjohn on 16/02/2021 - 17:00

                    @gezza90: I think that's an Audi issue. It's exactly the reason why I didn't buy an Audi. I've known many people who had the same issues with Audi. I've never know any BMW people complaining of significant issues hence why I chose our car. Slightly costlier up front cost but reassured to not have mechanical issues like the Audi cars have

        • gromit on 16/02/2021 - 09:46
          +1

          Base models of both beamers and mercs are very cheap now (relatively), start in the 40's and 50's and obviously second hand even cheaper. So they don't need to be "clearly aged" to be in that $25k-$35k range.

      • abb on 15/02/2021 - 09:28
        +10

        Nah if someone at uni rocks up in a brand new car of any brand it's pretty obvious they have rich parents.

      • brandt on 16/02/2021 - 13:49
        +4

        Back in my day, I used to travel in a $350k bus.

    • tooslow8888 on 16/02/2021 - 08:57

      Used A-C classes and 1-3er are nothing to write home about, and depreciate like crazy 2-3 years post-release.
      They're also built to a price, so I never understand why people would even be remotely jealous for people purchasing such POS.

      It's also worth mentioning that a brand new mid-spec Yaris SUV is the same prices as a 2-3year old C200.
      If the latter has an extended warranty plan, why not?

      Also, one of the most important aspects of maintaining a healthy mental health is to focus on things you have control of, and set goals that are realistic.
      There will always be a lot of people that are better than you, and a metric ton more that's "below" (i.e. living in poverty, in war zones, etc). Adjust your perspective, and you will enjoy life that much more.

      Also, well done on the fake post by the OP - here to generate some controversy around the boards.

      • [Deactivated] on 16/02/2021 - 12:42

        Agree with this sentiment, I don't understand the rationality of purchasing BMW/Merc I see heaps of them on the road on a daily basis imo it's eroded the brand image. Sure, maybe if you're purchasing the higher end models CL63/M3 etc. I can understand the notion of 'luxury brand', but for the most part the others are just everyday cars nowadays.

    • mrhanky71 on 18/02/2021 - 08:57

      some rich people need to buy cars for tax purposes sometimes.
      and they will generally buy their children a nice car.
      knew a guy in uni who always used to drive nice cars but he was a total flog lol

      • azngamer on 18/02/2021 - 11:30

        I don't think they "need" to buy cars for tax purposes.

  • p1 ama on 14/02/2021 - 17:54
    +107

    Putting aside any judgement on whether spending money in certain ways is advisable, I'll try to answer your question in an objective way.

    1) When you refer to things such as a Rolex, they're actually quite good long term investments. Most actually go up in price and if you're lucky enough to be allocated a sought after one brand new which you can purchase at RRP, they're already instantly worth more than what you paid for it the moment you pick it up. That being said, this is an anomaly amongst luxury goods, but one that I should point out as it's a special case.

    2) Ultimately these luxury goods are not that expensive and even someone with "above average" income will be able to afford them if that is how they choose to spend their money. At the end of the day, is $5000 that much money? Many will blow through $5000 on a holiday, perhaps upgrade to a more premium trim of a car they were going to buy, maybe even on eating out or drinking coffee. It just comes down to how you want to spend your money.

    Another way of thinking about it is that if you spend $20 to eat lunch out every day, that's $7,300 per year. Do you have to be super rich to spend $20 on lunch every day? Just last year alone, because of WFH, I was able to save around $60 per week from travel expenses - that's $3,120. In the scheme of things, does a $5,000 handbag even seem that expensive anymore? Maybe there are some people who've been able to save up a bit of money from not travelling this year, or saving on various other things and are deciding to spend that elsewhere?

    My point is that you could go out and buy expensive "luxury" goods if you wanted to. It's just about deciding how to spend your money. If you went out and bought a $5k handbag for your wife tomorrow, would that really change your financial situation? Be honest with yourself. Probably not right?

    Maybe someone who's buying a $5k handbag just saved $14 every day and wants to buy his wife a gift at the end of the year. Is $14 per day an unreasonable amount to save for most people?

    Been living frugally since entering workforce and I still feel I am very poor.

    FWIW, this is probably why you're surprised. You're just not used to people spending that money.

    I work in an industry where luxury goods are common. Many of my friends and colleagues wear a Rolex, some drive exotic cars, some live in exclusive penthouses, most of them will deride flying business class as the "cheap" option…etc. You become desensitised to it and realise that there are a lot of people out there who are not necessarily rich, but reasonably well off, work horrendously long hours, don't really have any sense of family, social or personal life and just buy expensive stuff as a substitute for living some semblance of a normal life.

    Of course, then you have spoilt little kids who are spending their parents' money, or people from overseas who are laundering money…etc., not to mention those who are trying to buy legitimacy and status…etc. which are all different groups to the people I'm describing here.

    I thought everyone would be cutting back on expenses given the uncertainty but where are all these people getting money to spend on discretionary luxury goods?

    What uncertainty?

    Markets are bull, everything's been going up. Interest rates are at record lows. Savings rates have exploded. Many of the regular ways of spending money (particularly travel) would have been shelved. Most people have saved huge amounts off of 2020. Given huge inflation, the likelihood of asset market bubbles popping…etc. If there was any time to spend, it would literally be now. You're trading out volatile financial assets and cash for either utility (happiness) or physical "real" goods.

    One of my close friends is doing a research project (we're economists) on spending/saving through the pandemic and has access to (deidentified) transaction data from one of the major 4 banks. I was chatting to him about some of his preliminary results and whilst he found that the bottom of the distribution was worse off through 2020, the median person in Australia was actually much better off. The median person earned more in 2020 than in 2019, spent far less in 2020 than in 2019, which if you add together is prime time for discretionary spending.

    From a personal perspective, I usually saved around 50% of my income in previous years, but was able to save over 75% of my income in 2020. Not only that, but the diversified financial assets which I purchased after the initial crash have roared back astoundingly. This is likely the story of many others as well. Would I rush out and buy luxury handbags? No, because I'd prefer to spend my money on other things, but plenty may choose luxury handbags.

    • Loot N Plunder on 14/02/2021 - 18:12
      +5

      Pretty good run down there ill add to it by saying over thirty billion dollars ripped from super, lowest ever housing interest rates some people have refinanced and are better off, also the liberals have the cash rate at a record 0.1% and are spending like a drunken sailor and throwing money at the banks

      Most of us didn't start life with a silver spoon so know where you are coming from

    • exp1 on 14/02/2021 - 23:34

      interesting insights re: median person being better off - is most of the salary growth at the higher income brackets pulling up the median? saw on news that jobs growth was +ve for high income jobs and -ve for the rest during one point of the pandemic. if savings rate + income lvl of the upper income earners are higher and lower for the rest of the economy, isn't this going to widen income equality?

      • abb on 15/02/2021 - 09:34
        +2

        salary growth at the higher income brackets pulling up the median

        Are you maybe thinking of the average (mean), rather than median?

        Median is the middle value - i.e. sort everyone by income, pick the one dead centre in the list. So if only the top 10 or 20% of people get more money, it will not change the median.

        • exp1 on 15/02/2021 - 11:15

          yes true, I was thinking it was a combination of both top % increasing incomes and mid/lower quintiles decreasing incomes that led to overall median increase. Keen to know which specific income bands within upper top % incomes had the biggest growth. E.g 200-300k roles?

    • crentist on 15/02/2021 - 12:39
      -2

      Good analysis and everything, but the difference between luxury goods and travel/meals/etc is that luxury offers very little over very cheap alternatives.

      Eg you could spend $5000 on an LV handbag, but Bunnings sells buckets for like $1.50

      • dtc on 15/02/2021 - 13:41
        +1

        your stomach doesnt care if you eat mcdonalds or a $300 steak, its all meat protein to be dissolved by stomach acid (or what ever happens, not a doctor).

        and the next day you are just as hungry and still want breakfast

        so you could spend $300 on a steak, but McD sells cheeseburgers for $3.

        • Skullytor on 14/04/2021 - 22:27

          Yes it does care. Ones unhealthy processed food and the other isn't necessarily unhealthy, unless you eat too much of it.

          McDonald's will keep your from dying of starvation, that's about it. The steak has nutrients

    • Autonomic on 15/02/2021 - 15:20

      Unrelated, how hard is it to find work as an economist? Is an undergrad degree enough?

      • p1 ama on 15/02/2021 - 18:12
        +2

        how hard is it to find work as an economist?

        It's impossible to answer this question. Like any other profession, those who are at the top of the heap find it very easy to find work and are paid handsomely whilst those at the bottom will struggle to find a job.

        It's not a field where there's lots of people, lots of work, lots of opportunities, so if you just want a field where it's "easy" to find work and where everyone does largely the same thing, have a look at accounting.

      • JudasX on 15/02/2021 - 23:55
        +1

        In my opinion: do honours year or a masters; do a summer internship if possible. A lot of govt policy roles appreciate the economics background, even if you don't end up doing much economics in those roles.

    • pipe on 16/02/2021 - 00:21

      Yep, asset prices are at all time highs and people spending less on eating out, transport and vacations.

      Anyone with a good job and some skin in the stock market / crypto are doing fantastic.

    • netjock on 16/02/2021 - 16:26

      When you refer to things such as a Rolex, they're actually quite good long term investments.

      Only if a 100 different probabilities of it being scratched, damaged, stolen, lost or destroyed in the fire doesn't happen to it. Imagine if everyone thought of it as an investment and left theirs in a safe deposit box and in 30 years time we realise there is like 30k of them floating around in mint condition.

      If you look at expensive vintage cars, most that go up in value are those with small production runs of good desirable cars. Any mass affluent products today would most unlikely be a worthwhile investment. Manufacturers have caught onto that.

  • i like free on 14/02/2021 - 18:01
    +2

    I would say it’s a mix of people who can afford to buy these types of luxuries (ones who have created their own wealth and others who have a trust fund) and others who buy them because they want to live that kind of life but actually can’t properly afford to (ie people with little savings, bad debt).
    I feel social media definitely has played a huge part where it appears that these luxury goods are part of everyday life. Plus these luxury companies make certain products that have lower entry point prices so that most of the population can still buy it ie, Louis Vuitton keychain for $700. People who really love the brand would still buy something like this because it’s LV.

  • fossilfuel on 14/02/2021 - 18:05
    +1

    If you work at a bank and you have access to the vault, there's plenty of bills lying around. If not, just buy a black mask and cap pistol from the dollar shop.

    • bobbified on 14/02/2021 - 23:16
      +6

      there's plenty of bills lying around

      The only bills I have lying around are electricity, water, telephone and credit card bills….

      • smartazz104 on 15/02/2021 - 14:24
        +1

        They can email those to you now.

      • brandt on 16/02/2021 - 13:53

        ..internet, council, mobile, mortgage bills..

  • iNeed2Pee on 14/02/2021 - 18:05
    +2

    Uncertainty my ass.
    Some people were double dipping with jobkeeper.

    Extra cash to spend on materlistic crap now.

    Im happy with my $130 Gshock thanks.

  • timthetoolman on 14/02/2021 - 18:07
    +52

    To me, spending 2k on a watch for valentines day makes me think you're one of the people you're asking about.

    • iNeed2Pee on 14/02/2021 - 18:08
      +5

      They definitely are.

      If there was no line…..there would have been no post.

  • jalwa on 14/02/2021 - 18:10
    +11

    A lot of them look like kids of factory owners in China.

    • striker5950 on 15/02/2021 - 16:17

      they are tho

    • skillet on 15/02/2021 - 21:25
      +4

      You expect some beggars send their kids overseas for study? These kids are the privileged kids we should be proud as a host. Be nice, paint a pretty picture for them so they will return for holidays and splurge their hard earn $$$ here. Now why only China, the Koreans are equally big fan of luxury goods as well.

      • arescarti42 on 15/02/2021 - 22:28
        -2

        Not really.

        They're the kids that weren't good enough to get into the actually desirable countries with half decent universities (UK and USA)

        • duchy on 17/02/2021 - 10:30
          +1

          Australia has four universities in the top 20 in the world.

      • Bunnyburger on 16/02/2021 - 13:13
        +2

        This. The people that get to leave China are usually rich.

  • Ocker on 14/02/2021 - 18:11
    +3

    People are saying that if I cannot go overseas and have a nice vacation then I will spend the money on myself in other ways.

  • jjjaar on 14/02/2021 - 18:13
    +10

    Just because people have things, it doesn’t mean they have money. They might simply just have debt.

    • freshofftheplane on 14/02/2021 - 23:28
      +5

      Try telling that to real estate investors.. lol

      • Skullytor on 14/04/2021 - 22:29

        Different kind of debt than being in debt for luxury goods

    • anastasiastarz on 15/02/2021 - 10:09
      +2

      Yep we know girls husband hunting and renting life for a while, everything is rented and an investment to reel in that big fish/whale. Fake it till you make it, or go in debt and die/game over.

  • Daabido on 14/02/2021 - 18:24
    +4

    Never pay retail on a watch unless it's a Rolex or a couple of high priced brands. Otherwise look for 20-40% off minimum. Check out prices overseas for the same watch.

    Sign up to a mailing list at http://clockmaker.com.au Every week day you will get an email with his latest watch sales. Quite often some nice women's watches come up.

    Get your screen fixed. It's not worth walking around for 18 months with a broken screen.

    • greatlamp on 15/02/2021 - 00:13
      +1

      For high priced brands there are even more discounts.

      People go so far as to fly to Hong Kong or Singapore to get a better deal

    • striker5950 on 15/02/2021 - 16:19
      +3

      OR be smart and buy a perfect Chinese replica, for around 1k. look up noob v10 rolex

    • Skullytor on 14/04/2021 - 22:30

      I always found clockmaker overpriced. But I might sign up to the list in case he does have something reasonable- thanks!

  • mskeggs on 14/02/2021 - 18:32
    +10

    A lot of business owners got their staff wages paid by the government for six months last year.

  • whitelie on 14/02/2021 - 18:42

    Got to keep up with the Jones's

  • spackbace on 14/02/2021 - 18:42
    +21

    And there's the worrying thing about your marriage - $2k watch for the Mrs while you're using an older phone with a cracked screen.

    That's worrying

    Gotta be give and take, not just 1-sided

    • aboogee on 14/02/2021 - 21:13
      +4

      Oh well…
      Frankly, I come from a modest family and my parents have been frugal forever.
      I think whilst I earn a decent salary now, the habit is hard to change.
      Whereas my wife's family (from china, kaching!!!) is quite the opposite
      When her parents came to Australia for a visit, they were literally despising me for going to coles / wollies for weekly discounted groceries.
      Most chinese parents would tell their kids to not worry about money and get the best stuff, food, phones, etc

      As for the watch, my wife hasn't splurged on anything since having kids so for me, I thought it would be something to keep her happy

      • Hardlyworkin on 14/02/2021 - 22:02
        +32

        The in-laws sound like w@nkers. Lucky for you they are overseas.

        • BugsBunnyAUS on 14/02/2021 - 22:11
          +9

          And shielded by a fortnight of quarantine

          • aboogee on 14/02/2021 - 23:18
            +5

            @BugsBunnyAUS: Nah to be fair, i think most chinese are like that
            I think alot of their baby boomers came out of extreme poverty, and thought everything expensive is premium, everything cheap is sh*t.
            Pretty common, heard that among my wife's friends too.

            • TheOtherLeft on 15/02/2021 - 08:25
              +15

              @aboogee: Most Chinese parents do not think that way. I'm Chinese and my parents definitely did not think that way. They got severely burnt in the dot.com crash and so learnt from that to be frugal.

              • Griffindinho on 15/02/2021 - 12:06

                @TheOtherLeft: its true most think like that, especially the ones with the privilege to travel overseas.

              • aboogee on 16/02/2021 - 22:27
                +3

                @TheOtherLeft: Really?
                I wished my in laws were burnt in dot com or even GFC so that they are a little more modest
                I think they were lucky enough that they own a few properties, apparently RE agents calling and offering higher and higher prices for those apartments as they are in good school catchment in china (its a big deal over there)
                And my mother in law whinging how if her husbands didnt stop her from buying her own company's shares that she would now be billionaire
                And the list goes on

                I'm not bragging - I am sicked of being order around just because they think they are wealthy. I told my wife I dont want to have anything to do with those - just stop showing off wealth in front of me
                Ultimately, those wealth means nothing if you go around acting barbaric…

                • p1 ama on 17/02/2021 - 00:20
                  +1

                  @aboogee:

                  I wished my in laws were burnt in dot com or even GFC so that they are a little more modest

                  That's a horrible thing to wish for. Maybe they're arrogant or whatever, but you're acting like they robbed you.

                  I'm not bragging - I am sicked of being order around just because they think they are wealthy. I told my wife I dont want to have anything to do with those - just stop showing off wealth in front of me

                  Why'd you marry into that family then? Honest question.

                  • aboogee on 17/02/2021 - 00:34
                    +1

                    @p1 ama: off topic… lol
                    my wife is a nice person - just a lil naive when it comes to $$ affairs, or ignorant because money was a non-factor in her family
                    when we bought our 2nd property (oh yeah, i was forced into it) she thought we could pay it off in <10yrs based on my gross income HAHAHAHAHA
                    mind you this is a property that is >$2mio, my parents were crying, her parents were laughing
                    and today she realised it was a mistake and should have listened to me to buy something more affordable
                    and i was upfront with my wife - i told her i would rather she came from a poor family so that our values are closer

            • ankor on 15/02/2021 - 21:43
              +4

              @aboogee: I'm Chinese and most of my extended family which spans Melbourne, Sydney, Brisbane, Gold Coast, Hong Kong and Shanghai don't think that way. There's a few black sheep who do, but it's a minority in my circle.

              I think culturally, there's a huge difference in attitudes within the Chinese community but it depends on S.E.S and which culture that Chinese person has come from.

              We all know the stereotype of the terrible mannered Chinese tourist, who has too much many and nowhere near enough manners.
              I'm sure that those types have a lot more in common with your g/f parents than many others, including my own relatives.

            • postform on 16/02/2021 - 11:53
              +1

              @aboogee: Essentially as some of my favourite rap songs say..

              "N*g*ers with new money" (essentially people who got rich recently but have no class and are insecure and have to show it off)

              • aboogee on 16/02/2021 - 22:56
                +1

                @postform: in chinese, they call it "tu hao"
                people who got rich by chance but really uncivilized LOL

                • wackedupwacko on 18/02/2021 - 18:46

                  @aboogee: I think you'll find that in general the majority of the boomer generation lived through poverty and having come out of the otherside, there's some part of them that want to live the good life now and also have their kids do the same. Most dial it back in after a little while especially now that some really big billionaires have been made examples of by the government for flaunting their wealth.

                  I do think most of that generation know how to be modest and frugal especially since that was how they were raised. But its also the face thing and they want to have face. If its within their means to purchase then sometimes thats more important than practically or price. It's interesting to adjust to when I need to buy things for my parents now, I don't just consider practically but also social status of said brands and items. If it really doesnt make sense, they do listen to my suggestions but I have at times just gone for the "brand" item for them instead of the most practical value for money.

      • 91rs on 15/02/2021 - 11:34
        +1

        The red flags in your comments .. geez, good luck with that.

      • Hangryuman on 15/02/2021 - 11:35
        +5

        Chinese refer to this as 'big face' -

        buying expensive things so you are automatically accorded higher status in the crowd of the hoi polloi

        people from poor countries aspiring to wealthy lifestyles may see potential mates as wallets to be opened …

        however your generalisation 'Most chinese parents would tell their kids to not worry about money and get the best stuff, food, phones, etc' might require a lot of saving for the great majority of poorer people in China who have to work hard to afford basic necessities.

      • Griffindinho on 15/02/2021 - 12:04
        +4

        its ironic because most chinese were very poor 40 odd years ago.

        • BartholemewH on 16/02/2021 - 18:37
          +1

          It may have changed because they manufacture literally everything we buy and they set their own exchange rate.

      • smartazz104 on 15/02/2021 - 14:25
        +3

        When her parents came to Australia for a visit, they were literally despising me for going to coles / wollies for weekly discounted groceries.

        Tell them the food here doesn't have lead at least.

      • JimB on 16/02/2021 - 01:10
        +1

        'When her parents came to Australia for a visit, they were literally despising me for going to coles / wollies for weekly discounted groceries.'

        Where do they want you to shop, or would like prefer you pay for at full retail at everything?

        I'd love for my in-laws to be like that.. I'd certainly ask them to subsidise our next house upgrade.

  • CyberMurning on 14/02/2021 - 18:42
    +1

    Social media influencer

    • whitelie on 14/02/2021 - 19:01
      +12

      Onlyfans?

  • Travis J on 14/02/2021 - 18:54
    +6

    Wife

    Right there is what you're doing wrong.

  • [Deactivated] on 14/02/2021 - 19:01
    +3

    $2000 doesn't seem like a sweet spot to buy a watch. You really want to spend less, or a lot more. Was it even automatic?

    • aboogee on 14/02/2021 - 21:16
      +8

      Bro, if I tried to intervene,

      We either get something cheaper, and she sooner or later notices that she likes the $2k watch more and would ask for it anyhow
      Or
      We get something more expensive, and she sooner or later notices that she likes the $2k watch more and would ask for it anyhow

      Either way, if she likes $2k watch, she is gonna get the $2k watch

      • [Deactivated] on 14/02/2021 - 21:31
        +10

        Be careful, because this can be a fools game. A $2000 quartz watch is probably really worth about $100. A $4000 Mechanical watch however, has an intrinsic value, and won't really depreciate. Don't spend your hard earned on something that is worthless, even if you never plan on selling it.

        • abb on 15/02/2021 - 09:43
          -4

          A $4000 Mechanical watch however, has an intrinsic value

          Ehh, maybe if it is made from valuable materials (sapphire, gold, etc).

          Otherwise it's just a fashion item and may be practically worthless one day if fashion shifts (I'm sure people who bought expensive top hats thought they'd never go out of style either). It's not like expensive watches tell you the time any better than a $25 Casio quartz watch, and they're far less accurate than any mobile phone.

          • Brick Tamland on 15/02/2021 - 13:27

            @abb:

            Ehh, maybe if it is made from valuable materials (sapphire, gold, etc).

            Nah I think Burnertoasty was referring to the mechanism of the watch rather than its bling factor.

            Otherwise it's just a fashion item and may be practically worthless one day if fashion shifts (I'm sure people who bought expensive top hats thought they'd never go out of style either). It's not like expensive watches tell you the time any better than a $25 Casio quartz watch, and they're far less accurate than any mobile phone.

            This would be true if the watch is a quartz based watch. This mechanism is cheap and the value is only really the brand of the watch and its bling. Eventually the Quartz will stop working and not really repairable.

            On the other hand $2k on a automatic/manual watch is not overly crazy. These watches can basically run forever due to the construction and fixable if it breaks.

            I would never spend $2k on a quartz but $2k on an automatic/manual is pretty ok.

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