Would you buy a handbag that costs 2 months of your salary?

@scheng1 (24889)
Singapore
October 16, 2015 8:58am CST
I am deeply ashamed when I read this news. It seems that my fellow Singaporeans are really very bad at personal finance. It sure is a waste of money to pay more than a hundred dollars for a meal, and it is definitely stupid to use 2 months of salary to pay for a handbag
Despite constantly complaining about the high cost of living and acting like passive aggressive  trolls whenever financial issues are discussed online, Singaporeans are often guilty of some rather baffling practices that cost them huge amounts of money, ev
7 people like this
7 responses
@PainsOnSlate (19678)
• Canada
16 Oct 15
That would never happen here in this house. I am all for saving my money and not just throwing it away.
@scheng1 (24889)
• Singapore
16 Oct 15
I agree that is throwing money away. A handbag is just a handbag. As long as it serves its purpose, we can pay it with day salary, 3 days salary or a week salary, but 2 months salary is really too much.
1 person likes this
@marlina (64899)
• Canada
16 Oct 15
Same here, you will never see me wasting money like this on "things". I much prefer building my portfolio.
1 person likes this
@scheng1 (24889)
• Singapore
16 Oct 15
@marlina In this case, you can check out the share price, dividend history and revenue of those companies making the branded bags. You will earn from the foolishness of those women.
@JaneApril (345)
• Philippines
16 Oct 15
I would certainly not do that! Why would I waste my money for unworthy things?
1 person likes this
@scheng1 (24889)
• Singapore
16 Oct 15
If you are a millionaire with a lot of money to spare, a few thousand dollars probably is not a lot of money. I think these people are really stupid. Why they want to act rich when they are not rich?
• Philippines
16 Oct 15
@scheng1 With that big amount of money, I can already help a lot of people. I might instead run a small feeding program for the homeless children here in our place.
1 person likes this
@scheng1 (24889)
• Singapore
16 Oct 15
@JaneApril True, that is definitely much better than buying branded bags. I think I will donate more to hospitals that cater to the poor. There are some community hospitals and hospices here that are run as charities, and they need a lot of money to help the patients.
1 person likes this
@cahaya1983 (10188)
• Malaysia
16 Oct 15
Definitely not, no matter how much I like it. That's a waste of money. But I'm sure it's not just among Singaporeans, I know people who do that here too.
1 person likes this
@scheng1 (24889)
• Singapore
17 Oct 15
Perhaps in term of the currency value, more Singaporeans can afford to waste this kind of money. It probably takes a Malaysian to work for 4 months before she can fork out this kind of money. Branded goods usually sell at high price, and at a premium over the original price quoted in Euro.
1 person likes this
@cahaya1983 (10188)
• Malaysia
17 Oct 15
@scheng1 Ever heard of JPO in Johore and Mitsui Outlet in Sepang? That's where we go to get good deals on branded stuff (not that I'm a fan of brands). That's why a lot of Singaporeans come here to shop, cheaper!
@Missmwngi (9690)
• Nairobi, Kenya
16 Oct 15
No i would not do that. That would be living a life that is not within my earnings
1 person likes this
@scheng1 (24889)
• Singapore
16 Oct 15
I agree. I will not do that too. I think it is stupid to buy expensive bag when there are so many useful things we can do with our money. It is better to buy a house, buy insurance, buy bonds, or just keep the money in the saving account.
1 person likes this
@Missmwngi (9690)
• Nairobi, Kenya
16 Oct 15
@scheng1 Yeah and if one is so in need of the bag it is better to save and buy when the money is enough because i cannot imagine being in debt
@pumpkinjam (5737)
• United Kingdom
7 Feb
No, I wouldn't. Even if I could afford to be so extravagant, I don't think I would. But then again, I probably spend more on the things I like than other people would think is reasonable. For example, I enjoy board games and will spend £40 (about 70 Singapore dollars) or more on one if I could afford to do so, while someone who's not into table top gaming might think that even half of that is too much to spend.
1 person likes this
@scheng1 (24889)
• Singapore
8 Feb
That is true. Sometimes we have to think about the cost per use instead of the total cost of the purchase. If I buy a pair of shoes, and wear it for 200 days a year, and that pair of shoes cost $200, then the cost per use is $1 per use. That will be rather expensive! I rather have cost per use reduce to 20 cents or less.
1 person likes this
• Preston, England
16 Oct 15
it is a pretty pathetic waste of money when cheap but perfectly elegant and functional alternatives are available
1 person likes this
@scheng1 (24889)
• Singapore
16 Oct 15
Over here, many people are very extreme. They buy bags that cost thousands, and they also buy bags that cost peanut. Some people go to neighboring countries just to buy cheap bags, and they do not buy just one or two, they will buy a dozen in different designs and colors.
@MALUSE (33769)
• Denmark
16 Oct 15
Is showing off so important in Singapore?
1 person likes this
@scheng1 (24889)
• Singapore
16 Oct 15
No, in fact, it is not so much as showing off as catching up with the Jonses. When everyone has the same expensive bag, there is nothing to show off. A person can only show off when he has something that nobody else has the money to buy.