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Overspending to ‘enhance’ image is very Sxxxxd.

Do you believe someone would be crazy enough to spend all his money on a BMW and then eat bread and instant noodle because he does not have enough money left? I happened to know one many years ago and I read about the second one today. First of all, I have no idea if the character in the news article I read is real or not. I read this article from a friend’s Facebook sharing. It goes like this. A Singaporean guy bought a BMW and did his very best to maintain this car,to the extent that he was eating bread and instant noodle everyday. Wow, must be pretty exciting because it’s not an easy thing to do! Read full article here: BMW guy eating bread and instant noodle
Familiar story to many of us? There’s little need to look too far. Perhaps we are also guilty of doing the same thing. That pair of jeans costing RM400? That new long sleeve shirt from a certain exclusive brand worth RM400? Actually, just these two would be enough for a family of four to survive for one month. I repeat, survive. I did not say enjoy. What were we thinking when we swiped the credit card for a brand new smartphone costing over RM4,000 when we could have bought one for RM699? Yes, the brand is not as well known, camera is not as good, speed is slower etc etc etc BUT RM699 vs RM4,000? Before anyone starts to debate about how he needs his phone very badly and that was why he bought the phone, let me say this, don’t bxxxxxxt.
If we earn RM16,000 per month today and wishes to get a RM4,000 phone which would last us at least the next 12 months, I think it’s fine. In fact, why should someone earning RM16,000 be using any inferior phone, right? Haha. However, from official statistics, these people are very rare in Malaysia. Yet, the sales of iPhone hit the roof last year. Before everyone starts debating, I understand, consumerism is strong in Malaysia. We want to be ahead of everyone else. At least, be seen to be. Just understand however that when we overspend to ‘enhance’ our image among our friends, it’s a foolish action. Save that money even if you have no intention to buy a property. Some day, you will need it. Happy spending, wisely.
written on 9 Jan 2016
Next suggested article: Negative thoughts but contrary actions?

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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0 Responses

  1. I used smartphone for business purpose so i will still buy if it is expensive but comes with multi-business-capable functions. All depend if it is for the right purpose but enhancing image is certainly not, for me. I used my old blackberry phone for couple of years even i was standing on top in my business industry.

    1. Haha… Stephen, you do NOT need to enhance your image. It’s already top of the world in my humble opinion. I love your new car too. 🙂

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