Why do broke people buy the most expensive stuff?

[Mercury]

Ive seen this soo many times people buying a new Audi they cant afford, buy designer clothes shoes and perfume while youre broke or out of work

I know one white Guy who takes out loans to afford clothes and baby food

Whats wrong with buying within your means?

 

[paragon]

It's because they are 30 K millionaires. They have probably ruled out the possibility of being able to make enough to more than afford luxuries so they end up hemorrhaging their wallets and exhausting their credit cards, just to keep up with the joneses. And since they don't have financial freedom they settle for flossing and finessing in front of their friends and passersby all in the name of conspicuous consumption. Rather than increasing their lacag or scheming on ways to make residual income (legitmately) they remain slaves to materialism.

 

[madamelioness]

I think you won't really know why unless you put yourself in their shoes. It might be as a result of poor decision making or they are just tired of living without or they just want to fit in. It is about status symbol and self-respect and of course the opinion of others.

A co-worker was telling me that Cockney Londoners, living on the East End who are either labourers/other low-income jobs scrimp and save their whole lives in order to afford a lavish funeral and expect to be carried to the cemetery in the most expensive coffin. Although, they lived on a meagre income they want to show the world they are just as respectable as their employers/ colleagues by having a good send-off. This is all conveyed through status symbol. It all boils down to mindset.

 

[Apollo]

Designer clothes, watches, and perfume worn by 'broke' people is more often than not totally fake and from places like Turkey and China.

aliexpress.com , lol almost anything the Chinese will make a knockoff from.

 

[madamelioness]

They also get it as gifts and sometimes they buy it second-hand, or it is passed down. It's not always a knock-off.

 

[Sufiyan]

Whats wrong with buying within your means?

Because the new service based economy and materialistic culture of endless growth is not having it. In most of these countries in the west we don't produce anything of real value anymore. We live in banana republics that are thriving off of borrowed time. The capitalist economy demands infinite growth into the future that is unsustainable both from a monetary and resource perspective. Auto loans alone in the US topped more than $1 trillion last year. How do you think the people who work for the debt institutions that continue to expand rapidly along with dealerships stay in business??? It requires a constant and growing stream of suckers to sign up for these financing schemes. The financial industry is one of the largest in the US and it is an industry that creates absolutely no wealth at all but is all about moving large sums of money around and an army of useless paper pushers that contribute little real value to society. Good news is this flawed system will not last and the government will either have to adapt or be crushed under the sheer weight of all the debt that was created in the place of real wealth hoping some generation in the future would eventually pay for all of it in the end.

The point is no society that is based on riba will ever prosper in the long run.

 

[Southerner]

I remember my friend got us excited when he finally bought a car to college. I was dismayed with the three door banger that I saw. Nigga had the nerve to park it between a Golf and a Honda civic

We've upgraded and so have the quality of our passengers

 

[Mercury]

Yeah people have become so materialistic these days it's crazy

Back in the day I was used to being broke, not getting what I want but I learned that just cause I can't afford it now don't mean I can't afford it later

 

[ironclad urchin]

cuhs when ure actually rich, u aint nothin to prove.