Prada, LV, Burberry, Gucci, etc. It's pretty regular in Singapore.
However, this sight is not as normal in other countries.
In European countries and USA, Singaporeans would happily spend loads of their cash to get the "cheaper" branded products when they travel there.
I spoke with a Singaporean who is working in New York on a local package. This means that this person is not an expat and is paid the same as though they had hired a local.
She shared her experience that, after taxes, rent, food, transport, there isn't very much left saved. Then she sends her money back to Singapore for her parents. So there's not much left for her own discretionary spending. Her example she gave me was, "can you imagine, you work for 6 months or so, then you splurge all you have saved on a bag? The people over here don't do that. Maybe only the senior people who are making a lot of money but the average folks don't have much spare cash to be spending that way. They have to think about paying rent."
Then I look at many Singaporeans. Many stay with their parents when they are single, usually when they buy their first property, they don't need to pay any significant amount of cash cos most Singaporeans would get a HDB so everything comes from CPF. Food and transport is significantly cheaper. And so Singaporean folks appear to have a higher disposable income which they spend on booze, and luxury products. Else they get a bigger car.
I recently heard that someone I knew bought a bag without a bat of the eyelid for $500. Just cos her other colleagues had bought it, something like, "Hey! We're all going down to buy ourselves something, wanna come along?" and she went along and bought it... Huh? Wow not even a special occasion.
Maybe I'm not seeing something or I'm misunderstanding something.
It just seems like Singaporeans just don't have to think about so many other expenses that folks of other countries need to think about. Tax and rent itself will wipe out something like 60-70% of their monthly income. In Singapore, if you earn $4500 per month, you would live pretty comfortably.
If as a single you earn $3500, you probably stay with your parents.
If as a couple, I assume it would probably be $7000 as a couple and you would be just as comfortable.
So I do think that as Singaporean we are fortunate.
Now I'm not saying Singapore is the best country. We have plus points and minus points. Same as any other country. Everyone likes different things.
I'm just putting a point that, currently, it looks like if you want to look at savings and disposable income, Singaporeans have an easier time than other countries. Yes the culture is different where they go out to work and pay their taxes at a very young age. And they may not give their parents a monthly allowance. So yea, there are differences.
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