It is often said that people are too concerned with getting things and spending money. What is your opinion?

TAN WEI HAU Class: 4/6

Due to globalisation, countries have been growing, prospering and developing. This allows people to enjoy a higher disposable income and enjoy more luxuries than ever. This is especially evident in countries such as India and China. Chinese people can be seen spending the extra income on tourism as more Chinese tourists are spotted around the world. The increased income in India has also allowed more people to have access to the internet and technologies such as smartphones. At a glance, this should be celebrated but not everyone makes full use of their money. It is often said that people are too concerned with getting things and spending money and I fully agree with this statement.

This is a problem that has been plaguing generations, however, I think it has become more evident than ever recently. The recent rise of “hypebeast” brands that offer products in which you pay mainly for the brand name and rarely for the quality has caused more and more people to be wasting money. Products from brands such as Supreme, Off-white, Gucci and Chanel, in my opinion, cost much more than they should. A single plain cotton shirt or jacket from Supreme or Off-white can cost up to thousands of dollars. Despite the high price, these products are always in high demand.

So why are people spending unnecessary money on such objects? Some may argue it is because of the rarity and exclusiveness of these products as they only come in stocks of about a hundred worldwide. However I think it is simply because these people are materialistic. Based on my observations, these products are seen as representation of one’s social status. If you wear clothing that come from one of these “hypebeast” brands, it shows that you can afford it and you are rich. The influence and social pressure is especially felt by teenagers. They are often spotted comparing shoes, not too often because of its ergonomic design, but because of its brand. A teenager wearing Airpods, Apple’s wireless earpiece that costs over a hundred dollars, would create more stir among his peers. A teenager wearing an Off-white hoodie that costs nearly a thousand dollars would be more popular and perhaps even respected among his social circle. So it is very evident that people are too concerned with getting things and spending money to attain a higher social status.

However, this is a cause for concern and has it gone too far? In my humble opinion, definitely. The fact that these everyday objects are costing up to thousands is alarming and ridiculous. The money spent by teenagers on obtaining these products could have easily gone into fees for better education, or lift the household’s financial burden. The money could have also gone into their savings for retirement, or when they need the money in a later part of life, such as to purchase a car or a home. It is not as if these products are a good value-for-money either. A regular concrete brick cost over a hundred dollars just because it is branded by Supreme. Even the company Supreme themselves claim that their brick is no different from the regular industry-standard brick. Is all that money really worth it for a name?

In conclusion, it is undeniable that people are too concerned with getting things and spending money and it is more prevalent than ever. It is an issue that should be rectified immediately. I urge parents to not spoil their kids by getting them everything they want. Instead, nip it in the butt and teach children to differentiate between “needs” and “wants” from a young age. Inculcate the ability to identify if an item is overpriced in children.